Target and malls were big Black Friday winners

Target and malls were big Black Friday winners

Best Buy’s Black Friday in-store traffic suffered a 20% decline compared to last year and a 43% decline compared to 2019.

The Richfield-based retailer spread its doorbuster deals throughout November, helping sales jump 5% at the start of the month. Still, Best Buy expects same-store sales for the holiday quarter to be, at best, on par with last year.

“We can definitely see customers responding to these holiday sales,” CEO Corie Barry said last week.

The electronics retailer could still benefit from online shopping on Cyber ​​Monday. Adobe Analytics forecasts Cyber ​​Monday sales of $13.2 billion, up 6.1% and would make it the biggest shopping day of the year.

According to the National Retail Federation, most of the record 200 million shoppers shopped online over the five-day Thanksgiving weekend.

“Online shopping offers a better solution in many situations, especially for those who know exactly what they want,” said Ethan Chernofsky, vice president of Placer.ai. “The mission of the store is to provide a place to discover products, to provide the opportunity to touch and feel products, to engage with the brand, or to determine the ideal size or version of a product.” This does not diminish the value of the visit, but means that while the visit is still important, the actual transaction may still occur online.”

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