Barry Richard – Black Friday Shopping May Be Losing It’s Luster
Looking forward to all night shopping on Black Friday? You're not alone, or maybe you are.
Business Insider says shopper traffic on Black Friday continues to shrink as fewer folks are hitting the stores. In fact the publication says foot traffic in stores is expected to be down 3.5 percent this year, according to the tracking service Foursquare. This follows several years of declines. The reason? Many larger retail outlets such as Target, Best Buy, Walmart, Amazon and others launch their Black Friday discounts weeks in advance.
According to Business Insider, The National Retail Foundation reports about 102 million people hit the stores over the Thanksgiving weekend last year, down from 147 million in 2012.
While many still visit the stores over the holiday weekend, lots of folks are buying online and are spreading out their Christmas shopping over a longer period of time. The bad news through all of this is that local stores take a hit as brick and mortar shopping continues to take a back seat to online shopping.