holiday weekend store sales fall on early discounts,
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[December 01, 2014]
By Nandita Bose
(Reuters) - Early holiday promotions and
rising online shopping took a toll on in-store U.S. sales during the
Thanksgiving weekend as shoppers on average spent 6.4 percent less than
they did a year earlier, according to data released Sunday by an
The National Retail Federation estimated shoppers on average spent
$380.95 at stores this holiday weekend, which began on Thursday,
compared with $407.02 a year ago, and total spending fell about 11
percent to $50.9 billion over the weekend.
NRF President and Chief Executive Matthew Shay said there is an
"evolutionary change" in holiday shopping among both consumers and
retailers, and this trend is likely to continue.
The data highlights the growing importance of online sales and the
waning importance of Black Friday, which until a few years ago
traditionally kicked off the holiday shopping season in the United
States, as more retailers open their doors on Thanksgiving Day and
start discounting merchandise earlier in November.
comScore, a retail analytics firm, said U.S. online sales rose 32
percent to $766 million on Thanksgiving and 26 percent to $1.2
billion on Black Friday, driven by stronger deals online.
The Thanksgiving weekend is an early gauge of consumer mood in a
season that generates about 30 percent of sales and nearly 40
percent of profit for retailers.
Discounted high-end apparel, televisions and toys were the most
popular this year followed by items including video games, home
furnishings and jewelry, according to the NRF survey of 4,631
Department stores like Macy's <M.N> were the most visited followed
by discount retailers like Wal-Mart, Target and electronic chains
like Best Buy.
NRF said nearly two in five consumers shopped online or plan to shop
online by the weekend's end.
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On Saturday, research firm ShopperTrack said sales at retail stores
fell 0.5 percent.
RetailNext, another analytics firm, on Sunday said it found overall
shopper traffic on Black Friday fell 14 percent, but on average
shopper spending rose 1.9 percent, as conversion rates were higher,
with shoppers spending more once in the store.
"Sales on Black Friday were very disappointing but retailers managed
to drive a lot of people to their websites early on which helps us
remain optimistic about the overall holiday season," said Shelley
Kohan, vice president, retail consulting, at RetailNext.
The NRF stuck to its forecast for retail sales to rise 4.1 percent
this holiday season.
(Reporting by Nandita Bose in Chicago; Editing by Jilian Mincer and
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