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Thanksgiving weekend shopping weaker than expected for retailers

HARTFORD, Conn. – Fewer consumers shopped in stores and online over the Thanksgiving weekend, causing the biggest shopping weekend of the year to fall short of last year’s numbers, new data shows.

Nationwide, an estimated 134 million people shopped between Thanksgiving and Sunday, down 5.2 percent from the 141 million who shopped over the holiday weekend last year, according to the National Retail Federation (NRF).

The numbers don’t take into account Cyber Monday, a popular day for online shopping and deals.

See the complete story at CT News Junkie.

Comments

4 responses to “Thanksgiving weekend shopping weaker than expected for retailers”

  1. sofaman

    Norwalk mall proponents please take note.

  2. Suzanne

    “Prosper Insights & Analytics analyst Pam Goodfellow said in a statement. “Shoppers this year have made it clear that they no longer only value deep discounts on Thanksgiving and Black Friday; they want the entire package from beginning to end – free shipping, early promotions, convenient ways to use their mobile devices and, of course, hard-to-beat online deals.”

    Notice it says, “online deals.”

    “A strengthening economy that changes consumers’ reliance on deep discounts, a highly competitive environment, early promotions and the ability to shop 24/7 online all contributed to the shift witnessed this weekend,” NRF President and CEO Matthew Shay said in a statement. “We are excited to be witnessing an evolutionary change…”

    As sofaman states above, “Mall proponents please take note.”

    This is GGP’s OWN industry stating that online shopping as well as big box shopping trends are taking over and that GGP Mall concepts are losing ground precipitously. In addition, a group as large as American Express is promoting shopping in locally owned, independent stores.

    It’s all here whether GGP and the City thinks it’s relevant or not: brick and mortar is losing ground fast.

    A Mall is a bad idea for Norwalk. A Mall is a redundancy set among other malls all a short distance away – it is not needed.

    A Mall such as that being proposed is destined to fail and contribute nothing, nothing to Norwalk’s coffers – the jobs will not be affordable to local residents, the taxes will go to the state, any property taxes will not be realized in one of Norwalk’s famous tax “breaks” to a developer.

    And the taxpayers will end up with an empty glassed in box for which its disposition remains unknown – let’s just kick the can down the road and let future taxpayers deal with it.

    1. Mark Chapman

      @ Suzanne, et al

      While shopping at brick and mortar was reportedly down, Cyber Monday apparently knocked it out of the park, according to this from Time.

  3. Suzanne

    That is part of my point exactly, Mark. Internet sales are trending upward apace as stated in your referenced article:

    “E-commerce sales on the Monday after Thanksgiving hit $2.04 billion, up 17% compared to a year ago, according to analytics firm comScore, making it the biggest online shopping day ever, and the first to surpass $2 billion in sales. For the full five-day period, sales rose 24%, and e-commerce sales so far are running ahead of forecast.”

    Meantime, big box stores have become the brick and mortar preference by more and more shoppers. Not the Mall concept being put forth by GGP, an idea that has seen its day as shown by numerous articles on NON.

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