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Foot traffic on Black Friday falls 48%

(Credit: IStock)

Foot traffic to stores on Black Friday fell 48% this year from last year, according to research firms that track foot traffic. Meanwhile, online spending jumped 22% from a year ago, making it the second-best online shopping day ever, WSJ reported.

  • Be Smart: Shoppers who did venture out made fewer stops and increasingly turned to big-box chains like Walmart and Target. The well-worn formula of one-stop shopping has proven especially lucrative during the pandemic. Big-box stores with groceries were deemed essential and allowed to stay open when department stores and malls were closed. Plus, Walmart and Target already offered curbside services in addition to online ordering. 
  • What to watch : It is unclear whether an early start to the holiday shopping season, the online Black Friday surge and an expected record day on Cyber Monday will be enough to offset the money lost from in-person shopping for many chains. [WSJ+CNBC]

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