Monday December 10th, 2012 - 11:18AM
Retail foot traffic increased 3.7% and sales increased 2.3% year-over-year for the week beginning November 25 and ending December 1, according to ShopperTrak. The market research firm, which analyzes retail foot traffic, said sales in the period represented a 28.8% decline in store visitors and 22.4% decline in sales from the 2012 Black Friday shopping week.
The decline in retail foot traffic and sales is typical of the week following Thanksgiving, ShopperTrak noted. Consumers may visit stores for Black Friday promotions but often stay at home the following week as they assess current budgets and create new shopping lists, it said. However, with a relatively long holiday season underway given an early Thanksgiving this year, ShopperTrak predicts the week prior to Christmas, the seven days beginning December 16, to be the biggest retail sales week of the year.
“The holiday season has just begun,” ShopperTrak founder Bill Martin said. ”Black Friday shopping remains an American tradition, and consumers took advantage of promotions the entire week this year. Many usually scale back their in-store visits around this time in favor of online shopping for Cyber Monday deals. We expect consumers to return to stores in increasing numbers to complete their holiday shopping in the coming weeks.”