‘Black Friday’ Channel Checks Turn Red: “Store Traffic Is Subdued Across The Country”

Friday, November 25, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Nov 25, 2016

Two days ago we reported that according to a troubling – for retailers – survey conducted by Reuters/Ipsos, nearly two thirds, or 63% of US adults, did not plan to shop on Black Friday. It is unclear what exactly is causing this sharp slump in US consumerism: according to Christopher Baldwin, CEO of BJ’s Wholesale Club, one excuse is that “Black Friday is no longer a one-day event; it has turned into a multi-week event.” Another possible reason is that shellshocked by soaring Obamacare premiums, US adults simply have far less disposable cash which to splurge on holiday trinkets.

Confirming the pessimistic outlook on this holiday’s spending season, Reuters reports that according to its own spot checks as well as those of reporters and industry officials, “store traffic remained subdued across the country.”

“Initial reports show it’s steady and not very busy at stores around the country,” said Craig Johnson, president at retail consultancy Customer Growth Partners. The firm deployed 18 people nationwide to observe customer traffic. Rain hurt shopping at stores in the Northeast, Johnson said, but some retailers like Best Buy and Wal-Mart saw improved customer traffic at stores across the country.

At a JC Penney store in Manhattan, Terry Bodiford, visiting from South Carolina, said he did not feel deals were better than he had found online over the past few weeks.

Macy’s and Best Buy on Chicago’s Magnificent Mile were packed, but employees said most of the customers were tourists.

The Rest…HERE

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