Bricks-and-mortar sales edge lower at start of holiday season; online surges: data
Reuters
(Reuters) – U.S. shoppers spent slightly less money at brick-and-mortar stores on Thanksgiving Day and Black Friday than across the same two days in 2013, while online sales surged to record highs, data showed on Saturday.
Sales at retail stores totaled about $12.29 billion on Thursday and Friday, down 0.5 percent from the $12.35 billion spent last year, according to estimates by ShopperTrak. The research firm stuck by its forecast for November and December sales to increase 3.8 percent.
The data highlights the waning importance of Black Friday, which until a few years ago kicked off the holiday shopping season, as more retailers open their doors on Thanksgiving Day and start discounting earlier in the month.
It also points to the intense price competition among retailers, which have been discounting by 40 to 70 percent this year compared with 30 to 50 percent in the recent past, ShopperTrak founder Bill Martin told Reuters.
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