Retail intelligence leader reports Black Friday traffic is up 7% year-on-year
— Joe Shasteen, RetailNext Global Manager, Advanced Analytics
SAN JOSE, CALIFORNIA, USA, November 26, 2022 /EINPresswire.com/ — RetailNext Inc., the worldwide expert in retail intelligence and traffic analytics for brick-and-mortar stores, today announced new data showing that retailers outperformed expectations on Black Friday 2022, with positive store traffic and sales trends.
Physical store traffic rose an impressive 7% and sales improved 0.1% over last year as brick-and-mortar retailers continued to thrive despite inflation, supply chain concerns, and lingering economic instability due to the COVID pandemic. Shopper Yield, which measures spend per consumer, however, decreased by 6.8% over last year, as more shoppers continue to go back into stores with a desire to browse and less of a clear intent to make a purchase.
“The story of the U.S. retail sector has been one of incredible resilience over the past few years. For the period of Sunday through Thursday leading up to Black Friday, 2022 traffic was down just 1.1% compared to the same period in 2021.
“While there are still major challenges in the retail industry, these 2022 increases in Black Friday foot traffic are quite encouraging. Analysts were expecting in-store visits to be down this year, but the initial data coming in clearly shows a different picture,” said Joe Shasteen, Global Manager, Advanced Analytics.
RetailNext’s full set of preliminary Black Friday Traffic and Sales data includes:
Shopper Yield: -6.8%
The company also tracked data across regions and retail categories:
Health & Beauty: +18.9%
*Stores must be open on both the 2022 & 2021 Date*
(Statistics are subject to change as retailers continue to report updates)
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 US that were open both this year and last year.
The first technology 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 400 brands in over 90 countries have adopted RetailNext’s analytics software and retail expertise to better understand the shopper journey in order to increase same-store sales, mitigate risks and eliminate unnecessary costs. RetailNext is headquartered in San Jose, CA.
Learn more at www.retailnext.net.
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