Posted on December 8, 2017
Prodco’s Retail Traffic Index for Black Friday reported a decrease of -0.60% year-over-year for all regions of the USA. The Midwest reported the largest year-over-year increase of 0.65% while the south reported the largest decrease of -2.10%.
According to a joint National Retail Federation and Prosper Insights & Analytics survey, within the 5 days surrounding Thanksgiving’s weekend:
- 64 million Americans have chosen to shop online as well as in physical stores
- 58 million people chose to do their shopping online only
- 51 million people chose to do their shopping only at physical stores
These numbers tend to show that even though technology has many advantages, many consumers still enjoy shopping in brick-and-mortar stores. Is it part of the holiday shopping experience? It is a strong opportunity for retailers to create on-point shopping experiences for their consumers. This opportunity shouldn’t be neglected if retailers want the consumers to keep coming back.
Consumers who shopped both online and at physical stores spent $82 more than online-only shoppers, and $49 more on average than physical-stores-only shoppers. The key of success in this high-volume sale season seems to be linked to the power of creating different and enjoyable shopping environments in-store and online. Shoppers needs have to be identified and addressed properly no matter where they are shopping.
Black Friday launched the holiday shopping season in Canada.
Prodco’s Retail Traffic Index for Black Friday for Nov. 24thshows a decrease of -0.38% for all regions of Canada. The British Columbia region reported the largest year-over-year increase of 6.47% while the Prairies reported the largest decrease of -2.67%.
A few days before the Black Friday, surveys led by colossal institutions such as RetailMeNot, projected a record spending year for Canadian shoppers. As spending continues to increase year-over-year during the thanksgiving weekend in America, Canadians are benefiting from the same sales offering on this side of the border.
Moneris, Canada’s largest processor of electronic payments, recently reported that Black Friday 2017 saw a 4.5 per cent increase in spending over Black Friday 2016. Year-over-year, Canadians seem to buy more during Black Friday weekend mainly because shoppers often consider the long weekend offers as the last ones before Christmas. In the last few years, Black Friday weekend sales have even exceeded Boxing Day’s sales volume.
As the spread of Black Friday sales offerings spills over north of the border, and coupled with the weak Canadian dollar, purchases at Canadian retailers by American shoppers soared 14.82 per cent for the first time in Canada.
Overall, brick and mortar stores continue to be the main shopping destination as only 10 per cent of total retail sales in Canada was from online shopping. Even with the ease and convenience of making purchases online, physical stores will continue to be the main driver for retail sales.
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