Expectations Are Tempered for Black Friday Shopping
For Black Friday weekend, an anticipated huge turnout by holiday shoppers isn’t expected to bring commensurate sales activity.
In the aftermath of third-quarter sales declines at many major retailers, the Census Bureau’s report that overall retail sales in October were down 0.1 percent from September, and inflation’s impact on consumer spending power, the outlook for sales gains for the post-Thanksgiving weekend and the holiday season overall remains modest.
Also throwing cold water on the outlook are statistics and commentaries from companies monitoring retail sales and traffic. They suggest a slow start to 2023 holiday shopping so far, while acknowledging there will be the usual shopping surge on Black Friday weekend as retailers pump up their holiday price promotions, and Americans, after gobbling up their turkey dinners, get more into the gift-giving spirit. Read Full Article
…
Shopper traffic at shopping centers from Black Friday through the weekend should be good because people want to get out and because the weather will be favorable.
“It’s going to be cold and dry, coast-to-coast, this weekend,” said Evan Gold, executive vice president of Planalytics Inc., which uses weather forecasting to help retailers plan their business. “Most of this fall has been really warm so this is a good setup for anyone selling cold weather apparel and gear. It’s also good for foot traffic at shopping centers….New York for the weekend as a whole should be in the low to mid-40s. Last year it was in the 50s. Los Angeles will average in the mid-to-upper 50s, compared to the 60s last year. Chicago should be in the low-to-mid 30s versus last year’s low-to-mid 40s, with some rain and snow leading up to Black Friday affecting travel but not foot traffic. Last year we had the warmest Black Friday weekend since 2017 and the wettest since 2019.”