PE Ledger

Black Friday sales are down 28% from pre-pandemic levels, as buyers spread their buying out over the holiday season

According to preliminary data from Sensormatic Solutions, retail store traffic fell 28.3 percent on Black Friday compared to 2019.

As per preliminary data from Sensormatic Solutions, traffic at retail outlets on Black Friday decreased 28.3 % compared to 2019 levels, as Americans shifted more of their spending online and started their shopping earlier in the year.

Sensormatic reported that traffic was increased 47.5 per cent year over year. Many buyers stayed at home this time in 2020 due to concerns about the coronavirus pandemic and the fact that merchants were working shorter hours.

“It’s evident that shoppers are shopping early this season, just as they were last season,” stated Brian Field, Sensormatic’s superior director of global retail consultancy. He went on to say that continued concerns about Covid and concerns about the supply chain are the two main reasons people are deferring their holiday shopping.

According to Sensormatic, the peak hour for Black Friday shopping in stores was 1 p.m. to 3 p.m., which is consistent with previous years’ trends. According to Sensormatic, Black Friday will continue to be the largest in-store shopping day of the season.

According to Sensormatic, visits to brick-and-mortar stores fell 90.4 per cent on Thanksgiving Day compared to the same day last year. On holiday, retailers such as Target, Walmart, and Best Buy chose to close their doors to customers. Target has stated that the change will be permanent.

According to Field, the South has the best chance of recovering to 2019 levels on Black Friday, followed by the Midwest, the West, and finally, the Northeast. He doesn’t believe that raising concerns about the new Covid version, omicron, had any effect on consumer behaviour that day.

“I believe the thing that would drive [travel] down if you start seeing outbreaks in the United States is if governments and localities start clamping down again,” Field added. “Apart from that, I believe the trends will be quite close to what we predict.”

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