November 29, 2014
Consumers Respond Positively to Thanksgiving Day Store Openings
CHICAGO – November 29, 2014 – More stores than ever opened their doors this Thanksgiving, with hopes of extending what has historically proven to be a very profitable weekend for retailers. Door buster deals and promotions brought more shoppers than ever out on Thanksgiving Day, but not without an impact on Black Friday store visits. ShopperTrak, the leading global provider of location-based analytics, predicts that this trend will continue as long as stores open their doors on Thanksgiving.
“We’ve seen an increase in Thanksgiving shopping over the past few years at the expense of Black Friday. More stores are opening, and earlier, which has caused a shift in shopping patterns. While Thanksgiving store visits increased 27.3%, Black Friday was down about 5.6%,” commented founder Bill Martin.
Though crowds may have been thinner than average on Black Friday, the total weekend sales have not suffered and are expected to remain relatively flat compared to last year. Thanksgiving and Black Friday’s combined sales are projected to be approximately 12.29 billion, a .5% decrease from the 12.35 billion we saw in the two day period last year.
“We need to be cautious about looking at a single day or two in projecting the season’s total,” says Martin. “In 2013, the Black Friday weekend produced a 1% gain, underperforming the 3.1% gain for the entire season. There is a significant amount energy left in the consumer with 7 of the top 10 sales days of the year yet to come, including Super Saturday which is projected to be the number one spending day of the year.”
ShopperTrak is the leading global provider of location-based analytics, offering insights into consumer behavior to improve profitability and effectiveness. Through the use of analytics, ShopperTrak enables clients to better understand their customers, enhance the shopping experience, and ultimately increase traffic, conversion and transaction size.
ShopperTrak is now part of Tyco Retail Solutions, the leader in retail performance and security solutions. Find out more at https://www.shoppertrak.com.