The equity research firm analyzed Black Friday deals at more than 20 different retailers in the home category. Promotions at Bed Bath & Beyond are up, but most retailers' levels of discounting are down this Black Friday compared with a year ago, according to a research note by Jefferies. The company tracks all forms of payment, including cash and check. Macy's CEO Jeff Gennette said early Friday that more people shopped at its stores on the shopping holiday than a year ago, after a wave of online shopping on Thanksgiving day.Īnother source of data, Mastercard SpendingPulse, said early indicators Friday morning suggested "a solid start" for department stores, too. Other indicators point toward a good day for department stores. And customers appeared to be nearing the end of their gift lists - in some cases, focusing instead on buying items for themselves.Īcross the board, she said, deals seemed hard to come by due to low inventory levels and inflation. Out-of-stocks were common among hard home goods and basic apparel items, such as denim and underwear. She had a few other observations, too: Traffic seemed stronger at malls versus off-mall locations. Weinswig, the CEO and founder of Coresight Research, said she overheard some shoppers commenting on bargains at JCPenney, a department store that was pushed to file for bankruptcy during the global health crisis. Retail analyst Deborah Weinswig noticed the stores had surprisingly strong amounts of foot traffic when she visited malls in the Providence, Rhode Island and Boston area.
on Black Fridayĭepartment stores are getting some love from shoppers this Black Friday, after getting pummeled by the pandemic from lengthy closures and bankruptcies.
Notably, the activity at many shopping centers was more subdued and deals were harder to come by on Friday, experts say. This season is playing out much differently than those of the past, however. As the pace of shopper visits begins to dwindle at malls around the country on Black Friday, the holiday shopping season has officially kicked into high gear.