Saturday, April 21, 2018

Holiday shopping season off to record start

NEW YORK — U.S. shoppers hit stores and websites at record numbers over the Thanksgiving weekend, according to a survey released by the National Retail Federation on Sunday.

They were attracted by retailers' efforts to make shopping easier, including opening stores on Thanksgiving evening, updating mobile shopping applications for smartphones and tablets, and expanding shipping and layaway options.

All told, a record 247 million shoppers visited stores and websites over the four-day weekend starting on Thanksgiving, up 9.2 percent from last year, according to a survey of 4,000 shoppers that was conducted by research firm BIGinsight for the trade group. Americans spent more too: The average holiday shopper spent $423 over the entire weekend, up from $398 last year. Total spending over the four-day weekend totaled $59.1 billion, up 12.8 percent from 2011.

Caitlyn Maguire, 21, was one of the shoppers that took advantage of all the new conveniences of shopping this year. Maguire, who lives in New York, began buying on Thanksgiving night at a Target store. During the two-hour wait in line, she also bought items on her iPhone on Amazon.com. On Friday, she picked up a few toys at Toys "R" Us. And on Saturday she was out at the stores again.

"I'm basically done," said Maguire, who spent about $400 over the weekend.

The results for the weekend appear to show that retailers' push to make shopping effortless for U.S. consumers during the holiday shopping season worked. Retailers upped the ante in order to give Americans more reasons to shop. Stores feared that consumers might not spend because of the weak job market and worries that tax increases and budget cuts will take effect if Congress fails to reach a budget deal by January.

Retailers, which can make up to 40 percent of their annual revenue in November and December, were hoping Thanksgiving openings and other incentives would help boost what's expected to be a difficult holiday shopping season. The National Retail Federation estimates that overall sales in November and December will rise 4.1 percent this year to $586.1 billion. That's more than a percentage point lower than the growth in each of the past two years, and the smallest increase since 2009, when sales were nearly flat.

Matthew Shay, president and CEO of the federation, said retailers can be encouraged by the first weekend. "Retailers and consumers both won this weekend, especially on Thanksgiving," he said.

Here were the trends that emerged over the weekend:

• Online wave: According to comScore, which tracks online spending, online sales rose 26 percent to $1.04 billion on Black Friday compared with a year ago. On Thanksgiving, online sales rose 32 percent from last year to $633 million.

• Thanksgiving shopping: Many stores, including Toys "R" Us and Target, opened on Thanksgiving evening this year. No data is out yet about how much shoppers spent on that day, but it appears that consumers took advantage of the earlier start: According to the federation's survey, the number of people who shopped on Thanksgiving rose 23.1 percent. That compares with a 3.1 percent increase for Black Friday.

• Black Friday flop: It appears that the Thanksgiving openings may have hurt sales on the day after. Black Friday is still expected to be the biggest shopping day of the year, but sales on that day slipped to $11.2 billion, down 1.8 percent from last year, according to ShopperTrak, which analyzes customer traffic at 40,000 U.S. stores. That's below ShopperTrak's estimate that Black Friday sales would rise 3.8 percent to $11.4 billion.

Karen MacDonald, a spokeswoman at Taubman Centers, which operates 28 malls across the country, said that Thanksgiving openings hurt business. Based on a sampling of 10 malls, sales growth was unchanged or in mid single digits on Friday, and unchanged or in low single digit on Saturday. "It was a different feeling," she said. "It was a good Black Friday, but I don't think it was great."

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