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Monday, January 24, 2022

Black Friday sales were up, but reflected the challenges retailers face.

The Black Friday weekend was successful for retailers, but reflected supply chain problems and the prevalence of early deals in October, prompting customers to spread their spending.

Shoppers clearly felt more comfortable entering stores than last year, but store visits remained well below pre-pandemic levels. According to Sensormatic Solutions, traffic was up about 48 percent from a year ago, but remained down about 28 percent from 2019. The firm said peak time for in-store shopping was between 1 and 3 p.m. Friday. Many retailers remained closed on Thanksgiving Day after closing for the day in 2020, which reversed the multi-year trend of opening during the holidays.

According to Adobe Analytics, according to Adobe Analytics, customers spent about $ 8.9 billion online on Black Friday, slightly less than in 2020, and $ 5.1 billion on Thanksgiving, which was on the same level as last year. which covers more than one trillion visits to retail sites in the United States. This was the first time Adobe has seen a drop in large purchases since it first began providing e-commerce data in 2012. But from November 1 to November 28, consumers spent much more.

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The hot products were denim, where loose jeans boosted sales, weekend wear including dresses, cosmetics and fragrances, cozy sweaters, and comfortable sportswear and tailoring, according to Cowen & Co. analysts.

Cyber ​​Monday discounts were expected to be weaker, in part due to supply chain issues, from factory shutdowns to port backups, that have plagued retailers in recent months and were highlighted in last week’s earnings reports from Gap and Nordstrom.

World Nation News Deskhttps://www.worldnationnews.com
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