Campbell, California— According to RetailNext’s in-store traffic statistics, consumers’ in-store visits decreased over the Black Friday weekend, indicating a trend toward more frugal purchasing, even in the home sector.
According to preliminary estimates, foot traffic decreased by 3.2% on Black Friday and 0.8% on Saturday. According to the report, the home sector declined 5.8% on Saturday and 4.1% on Black Friday compared to 2023. According to RetailNext, the only category that had a greater decline was health and beauty, which fell by 7.2% on Friday and 4.3% on Saturday.
Regionally, traffic was down around 2% on Friday and Saturday in the Northeast, West, and South, and it was down an average of 5.7% in the Midwest on both days.
According to Joe Shasteen, worldwide head of advanced analytics, “the early data from Black Friday weekend provides critical insight into how shoppers are navigating today’s economic environment.” He mentioned footwear, clothing, and jewelry, which had significant traffic on Saturday, and added, “Although overall traffic remains subdued, we saw some notable reversals from trends observed throughout the year.”
“With longer promotions allowing for greater flexibility and less dependence on Black Friday as the main shopping day, these trends demonstrate a shift in shopping behavior.”
Shasteen also mentioned how combining offline and online tactics is becoming more and more crucial. “Today’s buyers are expecting a seamless experience across all platforms, even though foot visitation is still a key indicator of offline profitability. Retailers will be in a better position to capture value this Christmas season and beyond if they can properly integrate digital platforms with their physical shop.
Traffic experienced a minor year-over-year drop in the week preceding Black Friday, however this was counterbalanced by favorable sales outcomes as average transaction value and conversion rates rose. According to RetailNext, these trends demonstrate how consumers are being more frugal with their spending and choosing to buy fewer, more expensive things in order to get the most out of their purchases.
Tens of thousands of stores across the United States that use the RetailNext smart store platform provided the data that RetailNext used. Covered formats include solitary and specialist businesses as well as large big-box shops.
