Black Friday provides needed sales boost for retailers
As expected, Black Friday offered some relief to retailers reeling for a nation in recession. The number of shoppers either in stores or accessing online stores between Black Friday and Sunday increased 17% over last year, and the average amount spent was up by 7% over 2007.
While retail stores got a slight boost in sales - it was the online retailers who really experienced a surge in sales. According to shopper analysis from MasterCard, e-commerce sales were 11.8% higher than in 2007 while sales in specialty apparel stores increased by only 1.6% and luxury goods specialty stores saw sales increase by a mere 2.4%.
Other verticals didn't fare as well with retail electronics and appliances sales falling 14.3 percent. That's not exactly bad news, however, considering that sales in these categories had fallen 20% in the weeks leading up to Black Friday.
Among the other interesting insights into consumer behavior were reported on Monday:
- Foot traffic at all kinds of stores, including stand-alone stores and those in malls, plummeted 18 percent compared with last year.
- In malls, shoppers took more deliberate action this year, making a beeline for one or two stores where they planned to spend money instead of wandering from store to store.
- General merchandise stores did better than malls or specialty stores because shoppers wanted to be able to buy a wide range of products under one roof.
- Sources: The New York Times, Forbes.com, The National Retail Federation, ShopperTrak
PartnerCentric Affiliate Management Company
Black Friday provides needed sales boost for retailers
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