2018 so far appears to not be a bad year for Black Friday shopping, but unfortunately this is not so for brick and mortar retailers. And this is because early calculations are showing a 1% decline over last year for storefront sales at the same time online purchases continue to increase year over year.
ShopperTrak, a provider of channel checks and traffic insights for the retail industry, has just confirmed that foot traffic at brick-and-mortar retail stores on Thanksgiving and Black Friday was disappointing. Preliminary data showed a 1% decline for the two-day period compared to 2017, with a 1.7% decline in traffic on Black Friday versus 2017. This decline in traffic is consistent with our forecast on Nov. 11 that traditional retailers could experience a weak holiday season. The culprit: online shopping.
There is a silver lining: offsetting the decline in traditional traffic, online sales hit another record high of over $6.2 billion on Black Friday according to Adobe Analytics, while online sales on Thanksgiving Day tagged $3.7 billion, up 28% from last year. - Zerohedge
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