Black Friday Weekend Meets Modest Expectations
WWD
By: By David Moin and Kali Hays with contributions from Jean E. Palmieri, Rosemary Feitelberg, Evan Clark
E-commerce and hardline sales rose dramatically during the Thanksgiving weekend period, keeping many major retailers on track for mid-single-digit holiday gains.
In a Thanksgiving weekend unlike any other, department stores and fashion specialty retailers fought hard for business and met their modest expectations. . . .
. . . “Just about everywhere was warm. This was the warmest and driest Black Friday weekend since 2017. No major markets were impacted by snowfall,” said Evan Gold, executive vice president of global partnerships and alliances at Planalytics, a firm that helps retailers plan their businesses based on forecasting the weather. “From a business perspective, obviously the demand for cold weather apparel and hot food was limited. Even though more people have been shopping online, the weather still has a big impact on what they’re buying. Instead of gloves, sweaters, jackets and blankets, they were buying more electronics, toys, and a lot for outdoor holiday decorating.” The mild weather this past weekend also facilitated curbside and in-store package pickups, Gold noted.
“December will be colder and slightly drier than last year, which was the fifth warmest December in 125 years. The cold should help sales of cold weather merchandise, and when we pass these shipping windows [for receiving packages before Christmas] people will go out to the stores to purchase gifts,” predicted Gold. . . .