Retailistic

Black Friday Recap

Episode Summary

Black Friday Recap In this episode of Retaili$tic, Deborah Weinswig, CEO and Founder of Coresight Research, offers insights and observations from Black Friday 2024, highlighting the performance of various retailers, consumer behavior trends and the evolving nature of holiday shopping. The discussion covers retail sales growth, the shift toward omnichannel shopping and the importance of in-store experiences. Deborah shares her personal experiences visiting stores and the dynamics observed in malls, emphasizing the significance of customer engagement and value-seeking behavior among shoppers. The episode concludes with key takeaways and a positive outlook for the holiday season.

Episode Notes

Takeaways

• Black Friday sales increased by 3.4% year over year, exceeding forecasts.
• The holiday shopping season is now more experiential and omnichannel.
• Retailers that enhance customer experience see better outcomes.
• Consumers are shopping more intentionally this year, focusing on value.
• Gen Z shoppers prefer physical stores over online shopping.
• Malls are becoming social hubs for friends and family gatherings.
• Execution in stores like Home Depot and Lowe's was impressive.
• Target's marketing strategies, like the Taylor Swift book, were effective.
• Weather conditions will impact shopping behavior this season.
• The holiday season is expected to be strong despite fewer shopping days.

Chapters

00:00 This Week in Research, Highlighting Selected Retail Trends and Holiday Insights

02:54 Black Friday Performance and Trends

06:11 In-Store Experiences and Observations

09:06 Consumer Behavior and Mall Dynamics

11:59 Key Takeaways and Future Outlook

Read more on Black Friday from Coresight Research.