Thanksgiving weekend sales at brick-and-mortar stores dropped 10.4% year over year, according to retail research firm ShopperTrak. Sales totaled a projected $20.43 billion over the four-day period.
Thanksgiving Day sales totaled an estimated $1.76 billion, a 12.5% drop compared with 2014. Black Friday added an estimated $10.21 billion in sales, some 11.9% below Black Friday of 2014.
Bill Martin, ShopperTrak’s founder said:
It’s important to view the decrease in context. There are several contributing factors, including fewer available store hours on Thanksgiving Day and a later Hanukah that is anticipated to push sales into December. Most importantly, the success of the holiday season doesn’t hinge on the performance of a single day.
ShopperTrak chief revenue officer Kevin Kearns added:
Seven out of the top ten sales days still remain, and December is anticipated to be strong. With that in mind, we still maintain our 2.4% increase in sales for brick-and-mortar retail this holiday season.
Total online sales for the weekend have been reported to increase anywhere from 10% to 20%, while traffic and sales in brick-and-mortar stores have declined. The most successful retailers over the holiday weekend appear to have been the so-called omnichannel firms, like Best Buy and Sears, that have done a better job of integrating online and physical stores. Strictly online players like Amazon and eBay also performed well.