CAMPBELL, Calif.–(BUSINESS WIRE)–RetailNext, the leading in-store traffic analytics provider used by 560+ of the worldās most popular brands, today announced early insights from Black Friday Weekend 2024. Initial data reveals a 3.2% year-over-year decline in in-store foot traffic for Black Friday, reflecting broader trends of cautious spending and intentional purchasing that have defined 2024.
Initial year-over-year results spanning insights from tens of thousands of stores that have RetailNextās technology reveal:
|
Ā |
Black Friday (Nov. 29) |
Saturday (Nov. 30) |
Fri./Sat. Av. (Nov. 29 – 30) |
|
Overall |
|||
|
Overall U.S. |
-3.2% |
-0.8% |
-1.9% |
|
By Region |
|||
|
Midwest |
-7.0% |
-4.4% |
-5.7% |
|
Northeast |
-2.1% |
-1.7% |
-1.9% |
|
South |
-3.5% |
-0.2% |
-1.9% |
|
West |
-3.2% |
-1.1% |
-2.1% |
|
By Category |
|||
|
Apparel |
0.4% |
1.9% |
1.2% |
|
Footwear |
1.3% |
3.3% |
2.3% |
|
Health & Beauty |
-7.2% |
-4.3% |
-5.8% |
|
Home |
-4.1% |
-5.8% |
-4.9% |
|
Jewelry |
-0.2% |
1.4% |
0.6% |
āThe early data from Black Friday weekend provides critical insight into how shoppers are navigating todayās economic environment,ā said Joe Shasteen, Global Head of Advanced Analytics at RetailNext. āWhile overall traffic remains subdued, we saw some notable reversals from trends observed throughout the year. Footwear, which experienced year-over-year traffic declines in nearly every month of 2024, showed resilience during Black Friday weekend. In contrast, Health & Beauty, after an exceptional 2023 performance with a 12% increase in Black Friday weekend traffic, reflects a normalization this year.ā
Regional performance during Black Friday Weekend revealed the Midwest experiencing the sharpest decline, influenced by cold winter weather. In the Northeast, adverse conditionsāthough similar to last yearāalso dampened turnout but to a lesser extent, underscoring how external factors like weather can significantly impact shoppersā decisions to venture out or wait in line.
Additional pressures, including high grocery prices and the rising cost of living, have further influenced shopper behavior, with inflation-fatigued consumers carefully balancing discretionary spending. Foot traffic across 2024 has been down 3.1% year-over-year, with sales slipping 4% as shoppers remain cautious about spending. Retailers have responded by extending Black Friday deals to widen the shopping window, helping consumers find value while spreading out their purchases over time.
āThis extended shopping period has ultimately decreased the singular importance of Black Friday itself,ā continued Shasteen. āCategories like Apparel, Footwear, and Jewelry saw notable traffic increases on the Saturday following Black Friday, indicating that consumers are spreading out their purchases. These trends show a shift in shopping behavior, with extended promotions allowing for more flexibility and reducing reliance on Black Friday as the primary shopping day.ā
Shasteen also noted the growing importance of integrating online and offline strategies to meet evolving consumer expectations. āWhile foot traffic remains a cornerstone for measuring offline performance, todayās shoppers are increasingly expecting a seamless experience across all channels. Retailers who successfully connect their physical stores with digital platforms will be better positioned to capture value this holiday season and beyond.ā
In the week leading up to Black Friday, traffic saw a slight decline year-over-year for the same period, but this was offset by a positive result for sales as both conversion rates (CVR) and average transaction value (ATV) increased. These trends highlight how consumers are becoming more deliberate with their spending, opting for fewer but higher-priced items to maximize the value of their purchases.
RetailNext will release additional insights, including sales data, throughout the week as more data becomes available. All statistics are subject to change as retailers continue to report updates.
About the Data
Derived from data collected at tens of thousands of U.S. stores across hundreds of brands operating on the RetailNext smart store platform, the data reflects in-store trends across a wide variety of retail segments, from major big-box brands to standalone and specialty retail operations. Metrics exclude automobiles, petroleum, and warehouse clubs, and include stores across the U.S. that were open both this year and last year.
About RetailNext
The first retail vertical IoT platform to bring e-commerce style shopper analytics to brick-and-mortar stores, brands, and malls, RetailNext is a pioneer in focusing entirely on optimizing the shopper experience. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior data, providing retailers with insight to improve the shopper experience in real-time.
More than 560 retailers in over 95 countries have adopted RetailNext’s analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, reduce theft and eliminate unnecessary costs. RetailNext is headquartered in Campbell, California.
Learn more at retailnext.net.
Contacts
Media
John Vollmer
VSC for RetailNext
retailnext@vsc.co
