It was reported by ShopperTrak on Saturday that preliminary sales for Black Friday totaled $11.4 billion. Despite the economic news we've all been bombarded with, estimated sales were up 6.6% from last year. According to ShopperTrak this is the largest year-over-year gain in National Retail Sales Estimate for Black Friday since the 8.3 percent increase we saw between 2007 and 2006. That's great news!
Customers seem to be visiting fewer stores per shopping trip, with an average 3.1 this holiday season down from 3.19 last year. They are also more likely to buy when they enter the store. ShopperTrak speculates that it is the deep discounts that drove consumers shopping, shoppers look for sales and research purchases online beforehand. When they enter the store, they know what they are looking for, and they know what they should expect to pay.
How did you do on Black Friday?
If you did not see the uptick in sales on Friday, it may be time to evaluate your customer relationships and start getting in touch with those clients and customers that you haven't seen in a while. Spend time gaining familiarity into the holiday marketing strategies that other business are using to capture those shopping dollars, it's not too late.
Image courtesy of © Franz Pfluegl | Dreamstime.com