This year’s Black Friday was yet another indicator of its revolution to become a month-long sales event. With curbside pickup, buy now/pay later options, and big box retail being clear winners. Above all, it was evident that holiday marketing initiatives began just as Halloween ended. A clear sign of the beginning of the new-found Black Friday sales season. Consumers have continued to embrace curbside and in-store pickup options, even as brick-and-mortar traffic levels have reached above-average rates. So far, curbside is up 70% compared to two years ago, and was a clear winner for those that didn’t want to brace the crowds on Black Friday, but still support brick-and-mortar stores. Since October, large retailers have seen significant growth in physical stores, even more than small, local stores have. Large retailers saw a 22% higher growth in revenue on average than small retailers, according to Adobe.“People certainly seem to be out in the big mass merchants — Walmart and Target were extremely busy,” AlixPartners Managing Director Joel Rampoldt said. “And their curbside operations were extremely busy, which I think is a very good sign for that format and that functionality.”Black Friday proved that a majority of retail shopping comes from stores, however, it’s spread out over a longer period of time during the holiday season. This is a common theme that has slowly been evolving over the years, but the pandemic significantly sped up the process. Black Friday’s evolution is yet another indicator of the strength and growth within physical retail during the pandemic. The numbers don’t lie – brick and mortar is here to stay.
“The key aspect to remember is that despite the increased amount of retail spending online, the majority of retail spending continues to remain in store. The fact that even a global pandemic has not significantly dented the extent to which consumers shop in stores demonstrates the continuing importance of in-store retailing, and reinforces its long term future,” said Diane Wehrle, Marketing and Insights Director at Springboard.
“The importance of brick and mortar retailing to shoppers is reinforced by the fact that over half of those consumers who are now working from home have not changed their shopping habits from before Covid (Springboard US Retail Consumer Survey), which demonstrates why a number of pure online retailers are currently investing in brick and mortar stores that will trade alongside their digital offering,” added Wehrle.Brick-and-mortar shopping has proved its ability to outlast the pandemic and beyond. The basic human desire is person-to-person interaction – something that can easily be found in stores. The heart of in-store shopping praises itself on its ability to stimulate sensory and connections between individuals, and this factor alone will ensure its longevity. Source: Brick and Mortar Retailing – GlobeSt, Black Friday Winners & Losers – Retail Dive Photo Credit: Black Friday Winners & Losers – Retail Dive
