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People didn’t go too HAM this Black Friday

People didn’t go too HAM this Black Friday

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Are the days of camping outside a retail store in the cold while risking stampedes just to get a mediocre deal on the latest electronic gadget finally coming to an end? That’s what the data from Black Friday 2021 is pointing to.

While foot traffic at brick-and-mortar retail stores increased this Black Friday by 47.5% from last year, it fell by 28.3% compared to the pre-pandemic Black Friday of 2019, according to preliminary data from Sensormatic Solutions. According to the research, consumers are choosing to spread their holiday shopping out over the months of November and December over concerns about COVID and supply chain issues.

Over the last decade or so, Black Friday start times became earlier and earlier each year until stores began opening on Thanksgiving Day. The data from this year also shows this trend reversing itself. Visits to retail stores on Thanksgiving Day this year were down a whopping 90.4% from 2019. Many Black Friday favorites like Target (TGT), Walmart (WMT), and Best Buy (BBY) decided to keep their doors closed this Thanksgiving, with Target saying this is a permanent shift.

Why it matters

According to Adobe (ADBE), total online Black Friday retail sales fell slightly this year to $8.9b from $9b last year. This is the first time growth of online sales has fallen from the previous year. However, the data indicates this is due to more shoppers making purchases before and after Black Friday. Adobe is forecasting online Cyber Monday sales to be between $10.2b and $11.3b this year. 

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