BLACK FRIDAY IS NO LONGER RETAILERS’ RED- LETTER DAY
There’s little question that Black Friday has lost some of its mojo.
The frenzied post- Thanksgiving shopping experience that traditionally draws turkey- satiated shoppers out of the house before dawn for years had sparked long lines, bustling crowds and fever- tossed shelves.
But in the past two holiday seasons, Black Friday lost its title as the busiest shopping day of the year. With competition from e- commerce, along with doorbuster specials offered earlier in the month, and selling on Thanksgiving Day itself, shoppers discovered they don’t have to wait for Black Friday to grab a deal.
Experts have noticed the falloff in foot traffic on Black Friday. Consulting firm Deloitte says its researchers, sent out to gauge shopper interest on Black Friday, have been saying “is it supposed to be this dead?” over the past couple of years, says Rod Sides, vice chairman of the U. S. Retail & Distribution practice leader. “It’s interesting how much traffic has fallen off in the last three or four years around that particular event, and on that particular day.’’
The Black Friday shopping marathon surged in the 1980s, and over the years retailers opened their doors earlier and earlier, leading to the now- common starting time of 6 a. m., says Scott Bauer, the lead of PwC’s digital retail practice.
It became the biggest shopping day of the year. But, in 2014, the Saturday before Christmas surpassed Black Friday in actual sales. In 2015, “Super Saturday’’ once again was the top shopping day of the year. And this year, with Christmas falling on a Sunday, the Friday before is poised to potentially usurp both Black Friday and Super Saturday when it comes to sales, according to the National Retail Federation.
Black Friday net sales in stores have been in decline, according to analytics firm RetailNext. Sales dropped 1.6% last year as compared with 2014, and declined 14.1% in 2014 from the previous year. Traffic also took a dip, dropping 1.8% in 2015 vs. the previous year, and 16% in 2014 as compared with 2013.
But while it trails CyberMonday, Black Friday revenue from online sales continues to grow, increasing from $ 1.39 billion in 2012 to a projected $ 3.05 billion this year, according to Adobe Digital Insights.
The recent trend of retailers opening their doors on Thanksgiving Day has had an impact on Black Friday’s selling power. Macy’s, for instance, will open at 5 p. m. on Thanksgiving, an hour earlier than last year.
But some stores and malls are closing on Thanksgiving, in part because the extra shopping day was dimming some of Black Friday’s gleam.
“There is no question that heavy discounting early in the holiday sales season, both online and in stores, along with retailers opening their doors on Thanksgiving Day have cut into Black Friday sales,’’ says Ana Serafin Smith, spokeswoman for the National Retail Federation. “However, Black Friday remains the official kickoff to the holidays and an important tradition for millions of shoppers across the country. There is no indication that will change in the foreseeable future.’’
The move away from starting Black Friday on Thanksgiving is growing.
Deals are popping up as early as October. Amazon starts offering Black Friday deals next week on Nov 1. And this year, Lord & Taylor will kick off its Black Friday promotions the Tuesday before Thanksgiving, while Gilt will have online promotions that begin on Wednesday.
“It’s interesting how much traffic has fallen off in the last three or four years ... on that day.’’ Rod Sides, U. S. Retail & Distribution