Black Friday fails to lift gloom on high streets as footfall dives

  • Black Friday fails to lift gloom on high streets as footfall dives

Black Friday fails to lift gloom on high streets as footfall dives

So while the holiday shopping season is just getting started, it looks like retailers can expect sales to continue rolling in, potentially in record numbers.

Apparel retailer Gap, which has already been called out by multiple analysts over the weekend for the strength of its Old Navy and Banana Republic Black Friday deals, saw its stock climb almost 3 percent Monday morning.

Footfall figures from Black Friday are in and the results are mixed, with some analysts saying the sales event boosted footfall while others said it didn't.

Online sales volume on the Black Friday shopping day grew 24% year-over-year, according to data from Salesforce's retail intelligence unit. As of 10 a.m. (EST), Black Friday had already racked up $640 million in e-commerce sales, which is up 18.4% YoY, putting it on an nearly identical trajectory to Thanksgiving Day.

And that's good news for retailers this year.

Early estimates from ShopperTrak, a data analytics company that measures the number of shoppers at stores, said foot traffic "decreased less than one percent when compared to Black Friday 2016". By 5 p.m. ET on Thanksgiving, shoppers had spent more than $1.52 billion, up 16.8 percent from a year ago, CNBC reported.

Experts believe both days totals will fall once the weekend comes to an end and the public charges head-on into the brick and mortar Christmas shopping season.

According to Adobe Insights, 61.1 per cent of shoppers' visits to retailers' websites were for mobile devices, including smartphones and tablets.

Adobe predicts that Cyber Monday will be even bigger than Black Friday, bringing in as much as $6 billion in digital sales.