Brick-and-Mortar Stores Enjoy Strong Start to Holiday Season
Results for physical retail above expectations considering growth of digital branded touchpoints and promotional ‘holiday creep’
SAN JOSE, Calif. - Dec. 2, 2019 - RetailNext Inc., the worldwide market leader in IoT smart store analytics for optimizing shopper experiences at brick-and-mortar retail stores, today announced its final Holiday flash update for retail performance over the Thanksgiving and Black Friday weekend, reporting a slight decrease in U.S. store sales of 0.9 percent on a 4.2 percent decline in store traffic over the same period one year ago.
"Generally speaking, retailers enjoyed a very strong start to the traditional holiday shopping season as Americans spent at a record level," said Bridget Johns, chief marketing officer and head of growth strategies at RetailNext. "Thanksgiving Day started the weekend with very strong online shopping metrics, and it carried over into physical stores, particularly on Black Friday and on Saturday. Once again, this year's holiday weekend results underlie the importance of brands effectively converging digital and physical channels to deliver a single, seamless shopping experience to consumers and their well-established connected shopping journeys, particularly during the high-volume holiday season."
"Overall, it's important to recognize results for physical retail were slightly above expectations when considering both the growth of digital branded touchpoints and the retail industry's own promotional 'holiday creep' that saw Black Friday promotions hit stores early this year in an effort to make up for the Thanksgiving weekend falling relatively late on the calendar."
On Black Friday, shopper traffic fell 2.1 percent from a year ago, and it was followed up by a 2.6 percent decline in shopper traffic on Small Business Saturday. Sunday, shopper traffic was substantially less, posting a decline of 11.2 percent and bringing the overall weekend down 4.2 percent from one year ago.
With the aid of shoppers' strong intent to buy when visiting stores, conversion was up 1.8 points over the holiday weekend, leading to a sales increase on Black Friday of 1.6 percent over last year. Sales on Saturday were marginally down at 0.7 percent, with Sunday's performance down 6.2 percent as a result of the large decrease in shopper traffic. Overall for the holiday weekend, brick-and-mortar stores reported relatively flat sales of a 0.9 percent decrease from the previous year.
The RetailNext Retail Performance Pulse is a monthly composite of key in-store metrics developed from specialty and large format retail stores on the RetailNext analytics platform and located within the continental United States. The complete Pulse report for the month ending November 30 on retail's 4-5-4 calendar will be available for free download later this week at http://www.retailnext.net.
The first technology platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience in real time.
More than 475 retailers in over 85 countries have adopted RetailNext's analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, mitigate risks and eliminate unnecessary costs. RetailNext is headquartered in San Jose, CA. Learn more at www.retailnext.net.
RetailNext Inc. and RetailNext are trademarks of RetailNext Inc. in the United States.