Retailers Project 3.1 Percent Gain in Black Friday Sales
November 18, 2013,
CHICAGO-Retail sales during the upcoming Black Friday are expected to rise 3.1 percent, according to a survey of retailer chief marketing officers by BDO USA.
That projection is the same as the one the consulting firm reported from this survey at this time last year. The chief marketing officers also said they expect Cyber Monday sales to increase by 3.7 percent, down from last year's forecast of 4.3 percent.
In its statement on the findings, BDO said they "reflect the shifting character of Black Friday and Cyber Monday, as more retailers plan to open stores earlier on Thanksgiving Day, and as some brands such as Walmart and Amazon emphasize online deals throughout the season." The company also noted that, while in-store sales actually declined during last year's Black Friday, IBM Digital Analytics Benchmark said online sales on that day jumped 20.7 percent. "This highlights the ongoing shift in consumer preferences from brick-and-mortar to the convenience of e-commerce, particularly on a day known for long lines and large crowds," BDO said.
Other Articles By Author
Patti Carpenter Talks Color and its Importance in the Home
HFN's DIGITAL EDITION
COVER STORY: Sharpening the Focus on Millennials
Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.
ALSO IN THIS ISSUE:
- Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
- Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.