Welcome to our week 48 wrap up. There’s a lot to catch up on this week with Black Friday in the rearview mirror.
No one really knew what to expect on Black Friday, but it was assumed that traffic would not be the same as last year.
It’s almost as if this year retailers made the unspoken agreement that it will be a “cyber month” instead of relying on one day for major traffic to drive sales.
For many this year, doorbuster deals have turned into cyber deals. This is because the thought of having their stores packed with crazy customers fighting over the newest gadget didn’t seem like a good idea.
HERE’S LAST WEEK’S FOOT TRAFFIC (WEEK 48-47 COMPARISON)
Even though Black Friday 2020 traffic was down compared to Black Friday 2019, foot traffic from last week was up 24.8% over the previous week.
BLACK FRIDAY BENCHMARK REPORT (2020/2019 COMPARISON)
As expected, overall retail foot traffic was down 52% from Black Friday last year according to Sensormatic Solutions. Although this is a major drop, it’s worth noting that these numbers are watered down due to retailers offering holiday deals as early as October to compensate for the impact of the pandemic.
Brick-and-mortar retailers can stay optimistic knowing that most shoppers are spreading out their shopping over the holiday season. This year, slow and steady will win the race.
How our customers experienced Black Friday
Although most reports show around a 50% decrease in overall traffic from Black Friday last year, on average our customers saw only a 28.7% decrease in year-over-year foot traffic.
Black Friday Furniture industry key metrics
This year sales conversion for our customers actually dropped by 2.66% over 2019. At the same time, average ticket increased by 21.54% and total sales increased by 12.88%.
Black Friday mattress industry key metrics
This year sales conversion for our customers actually dropped by 16.08% over 2019. At the same time, average ticket increased by 12.31% and total sales increased by 23.72%.
What about appliance and footwear?
Based on the limited number of appliance and footwear customers, we are not able to provide meaningful data for year-over-year comparison at this time. However, with the number of new appliance and footwear customers coming on board, we will be able to next year.
DOORCOUNTS FEATURE OF THE WEEK
Quick Entry: When QUICK ENTRY is enabled, Doorcounts will only ask a salesperson one question: Did the interaction with the customer end in a sale, no-sale, or potential sale? Within less than 10 seconds of your salesperson’s time, Doorcounts calculates sales conversion, time with customers, and the breakdown of sale/no-sale/potential sales.
DUE TO POPULAR DEMAND WE HAVE EXTENDED OUR BOGO DEAL TO DECEMBER 4TH! For every store you purchase before December 4th, get one FREE! Every store purchased is another store FREE (if you only have one store get 50% off that store). Looking to upgrade? Get 50% off when you upgrade to Doorcounts 3.0 before December 4th! (If you’re already a DC 3.0 customer, reply to this email and we’ll perform a traffic analysis to help you turn your foot traffic into more sales.)
NOTEWORTHY NEWS
As you start your Wednesday, here’s a rundown of Black Friday…
The big 52: Not as a surprise to many, this year’s Black Friday saw a major drop compared to last year. Shoppers have begun to spread out their shopping rather than going big on Black Friday and risking large crowds.
Winners and losers: From online sales to curbside pickup, see how these retailers came out of Black Friday on top.
Ghost town Friday: For as long as I can remember, I would wait until after Black Friday and see all the crazy fights and crowds that break out over Black Friday on social media. This year, the aftermath resembled a ghost town rather than the biggest sales day of the year.
Black Friday all season long: Despite Covid 19 dramatically reducing foot traffic on big sales days such as Black Friday, it seems as if many retailers are picking up the trend of “Black Friday all season long.” The hope is that by spreading out the deals, shoppers can make their way to stores without fears of crowds.
RANDOM IRRELEVANCE
Loss of a great villain: David Prowse, the man to bring Darth Vader to life passes away.
World’s loneliest Elephant: In a time where everyone needs a friend, follow the world’s loneliest elephant’s journey to friendship.
Divided Internet: Everything we do online is turned into data, and now online data is extremely valuable. The United States was once the global data powerhouse, but who has the most data in the world now?
Harvard’s longest study on happiness: Researchers analyzed gigabytes of data to figure out what truly makes people happy.