As the holiday shopping season approaches, Americans are approaching it with caution due to economic turmoil. Consumers are feeling the squeeze of high prices and inflation, leading them to be more budget-conscious. Despite these concerns, experts predict positive results for retailers, as consumer confidence remains strong. Online shopping is expected to increase, with shoppers actively seeking out promotions and deals. Gift cards are also expected to be popular. However, holiday sales are expected to rise at a slower pace compared to previous years, as shoppers think twice before splurging. Despite this, a record-breaking turnout of consumers is expected during Black Friday and Cyber Monday, with shoppers attracted by good deals and tradition. Retailers are preparing for the event by offering deep discounts. The holiday season is seen as an opportunity for brands to drive revenue while helping shoppers optimize their budgets. In France, Black Friday is also gaining popularity, with a majority of purchases being made online. The average budget allocated to Black Friday purchases is 259 euros. Overall, retailers are making efforts to attract picky Black Friday shoppers with discounts and promotions, while also dealing with challenges such as inflation and changing consumer preferences.
However, recent data from Bloomberg Second Measure indicates that Black Friday sales at key retailers in the US have declined, signaling a challenging holiday season for the retail industry [56c9913e]. The median decline in Black Friday sales was 4% for a group of 40 companies that heavily rely on the shopping holiday. This drop was steeper than the previous year. Retailers such as Walmart, Home Depot, Abercrombie & Fitch, and Gap were among those affected. The data, based on millions of US credit and debit card users, does not include wholesale channels or cash transactions. Black Friday sales accounted for more than five times the average daily sales for these retailers, indicating their increasing reliance on this one shopping day. However, Adobe Analytics reported a 7.5% increase in online Black Friday spending compared to the previous year, suggesting that consumers may be shifting their spending to discount retailers or experiences and travel purchases. Discounters like Walmart, TJX Cos, and Amazon saw rising sales on Black Friday [56c9913e].
Despite the decline in Black Friday sales, retailers are still hopeful for a successful holiday season. Online shopping continues to be a bright spot, with a 7.5% increase in online Black Friday spending. Retailers are making efforts to attract customers with deep discounts and promotions. Gift cards are expected to be popular, as consumers remain budget-conscious. The holiday season remains an important opportunity for brands to drive revenue, but they must navigate challenges such as inflation and changing consumer preferences. In France, Black Friday is also gaining popularity, with a majority of purchases being made online. The average budget allocated to Black Friday purchases is 259 euros. Overall, retailers are adapting to the changing landscape of holiday shopping and working to meet the needs of consumers [56c9913e].