Black Friday shoppers stay away from stores, make $7 billion-plus splurge online
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Saturday
February 04, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SATURDAY, FEBRUARY 04, 2023
Black Friday shoppers stay away from stores, make $7 billion-plus splurge online

Global Economy

Reuters
01 December, 2019, 08:15 am
Last modified: 01 December, 2019, 08:18 am

Related News

  • Amazon workers call worldwide strike on Black Friday
  • Enjoy Black Friday deals at Sundora Beauty: 60% off and more
  • With Black Friday ahead, investors look to US consumer stocks
  • Ecommerce got pandemic boost, still going strong
  • E-commerce marketplace Khazana celebrates first anniversary

Black Friday shoppers stay away from stores, make $7 billion-plus splurge online

Top brick-and-mortar retailers like Walmart Inc, Target Corp and Best Buy have continued to spend billions of dollars trying to expand their e-commerce operations to capture that growing online revenue

Reuters
01 December, 2019, 08:15 am
Last modified: 01 December, 2019, 08:18 am
People walk through the King of Prussia mall, one of the largest retail malls in the US, on Black Friday, a day that kicks off the holiday shopping season, in King of Prussia, Pennsylvania, US, November 29, 2019. Reuters/Sarah Silbiger
People walk through the King of Prussia mall, one of the largest retail malls in the US, on Black Friday, a day that kicks off the holiday shopping season, in King of Prussia, Pennsylvania, US, November 29, 2019. Reuters/Sarah Silbiger

US shoppers made more purchases online on Black Friday than in the mall - hurting traffic and sales at brick-and-mortar stores, according to data that offered a glimpse into what is still one of the busiest shopping days of the year.

For the first time in several years, however, store traffic on Thanksgiving evening grew - indicating a shift in when consumers are leaving their homes to shop. It is also a sign of how Thursday evening store openings have continued to hurt what has traditionally been a day that kicked off the US holiday season.

The importance on the shopping calendar of Black Friday, or the day after the US Thanksgiving Day holiday, has waned in recent years. This is due to the choice by many retailers to open their stores on Thursday evening, as well as to early holiday promotions and year-round discounts. However, it is increasingly turning into a day when shoppers do not necessarily flock to stores but spend heavily online.

Also, for most retail chains, Black Friday store traffic and sales data is not necessarily grim as consumers continue to spend, consultants said. Winning the transaction, whether online or in-store, has now become more important for retailers than where it occurs.

Top brick-and-mortar retailers like Walmart Inc, Target Corp and Best Buy have continued to spend billions of dollars trying to expand their e-commerce operations to capture that growing online revenue.

Also, spending patterns over the weekend are not as indicative of the entire holiday shopping season as they were a few years ago, with purchases spread over November and December.

Online sales rose more than 19.6%, reaching $7.4 billion on Black Friday, slightly shy of estimates of $7.6 billion, according to data from Adobe Analytics, which tracks transactions at 80 of the top 100 US retailers. On Thanksgiving, it estimated sales grew 14.5% to $4.2 billion.

Numbers from ShopperTrak, which is part of retail data firm Sensormatic Solutions, showed that visits to stores fell a combined 3% during Thanksgiving and Black Friday compared with the same days in 2018.

Shopper traffic on Thanksgiving evening increased by 2.3%year-over-year but was dragged down by Black Friday, which fell 6.2% from a year ago.

Brian Field, senior director of global retail consulting for ShopperTrak, said the traditional pattern of shoppers visiting stores has been disrupted not only by online shopping but by offerings like "buy online and pick up in store," a growing category, which is not included in store traffic count on Black Friday.

"What all of this really boils down to is the customer journey has changed, now it can start anywhere online, in-store and end anywhere ... and it is about making sure the customer makes the purchase and stays loyal to the brands more than where it happens," he said.

Preliminary data from analytics firm RetailNext showed net sales at brick-and-mortar stores on Black Friday fell 1.6%, which the firm said is slower than in previous years. No data was yet available for actual spending in stores.

The National Retail Federation had forecast US holiday retail sales over the two months in 2019 will increase between 3.8% and 4.2% from a year ago, for a total of $727.9 billion to $730.7 billion. That compares with an average annual increase of 3.7% over the past five years.

World+Biz / Top News

Black Friday / online shopping

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Is the IMF to blame for growing pressure on your wallet?
    Is the IMF to blame for growing pressure on your wallet?
  • Dr Salehuddin Ahmed. Illustration: TBS
    Reforms in banking must to sustain financial sector
  • Why 2012 reforms were not done is a million-dollar question
    Why 2012 reforms were not done is a million-dollar question

MOST VIEWED

  • As the central bank of the US, the Federal Reserve sets financial policy and bank-industry regulations that ultimately affect every American.  Photo: Getty Images via Foreign Policy
    Fed seen hiking policy rate above 5% as hiring surges
  • US one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-Won
    Dollar jumps as US employers add more jobs than expected in January
  • Indian finance minister Nirmala Sitharaman. Photo: HT
    Adani crisis not going to be indicative of how well Indian financial markets governed: Finance minister
  • A trader counts Pakistani rupee notes at a currency exchange booth in Peshawar, Pakistan December 3, 2018. REUTERS/Fayaz Aziz
    Pak Rupee continues to decline, closing at Rs276.58 against US dollar in interbank
  • Let's be big enough to accept this economic gift
    Let's be big enough to accept this economic gift
  • Chris Hipkins speaks to members of the media, after being confirmed as the only nomination to replace Jacinda Ardern as leader of the Labour Party, outside New Zealand's parliament in Wellington, New Zealand January 21 2023. REUTERS/Lucy Craymer
    New Zealand floods add to inflation challenge for new prime minister ahead of vote

Related News

  • Amazon workers call worldwide strike on Black Friday
  • Enjoy Black Friday deals at Sundora Beauty: 60% off and more
  • With Black Friday ahead, investors look to US consumer stocks
  • Ecommerce got pandemic boost, still going strong
  • E-commerce marketplace Khazana celebrates first anniversary

Features

Andy Mukherjee. Sketch: TBS

What makes India's billionaires' support special for Adani

14h | Panorama
Photo: Rejaul Hafiz Rahi

A jackal farewell

15h | Earth
The trio spearheading the revival of book cover designs

The trio spearheading the revival of book cover designs

16h | Panorama
Six Jeep Wranglers and a special XJ Jeep Cherokee set out into the depths of Lalakhal, Sylhet for an experience of a lifetime. Photo: Ahbaar Mohammad

Jeep Life Bangladesh: A club for Jeep owners to harness the power of their vehicles

1d | Wheels

More Videos from TBS

A proper price formula can help investors to plan big

A proper price formula can help investors to plan big

1d | TBS Round Table
Rumors about Sarika that everyone thinks are true

Rumors about Sarika that everyone thinks are true

1d | TBS Entertainment
Mugging rife in Tejgaon, murder in Wari

Mugging rife in Tejgaon, murder in Wari

1d | TBS Current Affairs
What secrets are hidden behind Adani's wealth?

What secrets are hidden behind Adani's wealth?

1d | TBS Stories

Most Read

1
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

2
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

3
Photo: Collected
Energy

8 Ctg power plants out of production

4
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

5
Photo: Collected
Court

Japanese mother gets guardianship of daughters, free to leave country

6
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]