The announcement coincided with its full-year results, with growth driven by its jewelry brands.
Here’s How Thanksgiving Weekend Was for Retailers Overall
Initial results show that a lot of shopping took place online and that average spending per person was down slightly.
New York--The numbers are in for how the long Thanksgiving weekend was for retailers across the country, and they’re mixed.
ShopperTrak, the Chicago-based firm that tracks foot traffic in stores, reported that shopper visits to stores on Thursday and Friday were down a combined 1 percent when compared with the same days last year. Black Friday shopper visits in particular were flat year-over-year.
Over the past few years, Thanksgiving Day store openings were pulling shoppers from visiting stores on Black Friday. However, this year that trend reversed itself for a number of reasons, including fewer store openings on Thanksgiving Day and online shopping, ShopperTrak said.
The company also said that moving forward this holiday season, it’s “imperative” that brick-and-mortar retailers align their operations, including marketing, staffing and inventory, to exceed customer expectations and capitalize on the sales opportunities that remain for the busy shopping days ahead.
The National Retail Federation also released its numbers from the weekend, finding that more than 154 million consumers shopped over Thanksgiving weekend, up from 151 million shoppers in 2015, on the strength of Black Friday deals and promotions. The 154 million shoppers is also exceeded the NRF’s prediction of 137 million.
Average spending per person, however, was down from $299.60 to $289.19, with an average of $214.13, or 74 percent of total purchases, going toward gifts.
When it comes to where consumers shopped over the weekend, the survey found that 44 percent went online and 40 percent shopped in-store (survey takers were allowed to select more than one answer).
Of those that shopped in store, 75 percent shopped on Black Friday (up 3 percent from last year), 40 percent on Saturday, 35 percent on Thanksgiving and 17 percent on Sunday.
The most popular day to shop online was Black Friday, up more than 1 percent from last year to 74 percent, followed by Saturday (49 percent), Thanksgiving (36 percent) and Sunday (34 percent).
Other interesting points the NRF reported are as follows.
• Of the consumers who shopped in stores, 51 percent shopped at department stores, 34 percent at discount stores, 32 percent at electronics stores, 28 percent at clothing or accessories stores and 25 percent at grocery stores/supermarkets.
• Among those who shopped in store on Thursday and Friday, 29 percent headed out after 10 a.m. on Black Friday, which is up from 24 percent last year. Less than 15 percent arrived to stores by 6
• Early Thanksgiving Day in-store shopping also dropped, declining 19 percent, with only 7 percent consumers heading to stores before 5 p.m. Shopping on that day itself was up 1 percent.
• Millennials continued to drive the increase in shopping during Thanksgiving weekend, with eight out of 10 shoppers in this age group shopping over the weekend. Twenty five to 34 year olds shopped the most in store (56 percent) and online (62 percent).
Sales on so-called Cyber Monday, meanwhile, are set to exceed initial estimates and reach a record $3.39 billion, CNBC reported early Tuesday.
http://www.cnbc.com/2016/11/29/us-cyber-monday-sales-jump-set-to-surpass-initial-estimate.html
That is a 10 percent year-over-year increase that further underscores the shift to online shopping, which also was strong over Thanksgiving, and helps to make up for the sales that retailers aren’t making in stores.
--Editor-in-Chief Michelle Graff contributed to this report.
The Latest
Looking ahead, the retailer said it sees “enormous potential” in Roberto Coin’s ability to boost its branded jewelry business.
Jewelry trade show veterans share strategies for engaging buyers, managing your time effectively, and packing the right shoes.
Despite the rising prices, consumers continue to seek out the precious metal.
This little guy’s name is Ricky and he just sold for more than $200,000 at Sotheby’s Geneva jewelry auction.
Though its website has been down for a week, Christie’s proceeded with its jewelry and watch auctions on May 13-14, bringing in nearly $80 million.
Despite the absence of “The Allnatt,” Sotheby’s Geneva jewelry auction totaled $34 million, with 90 percent of lots sold.
Tradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
Lilian Raji gives advice to designers on how to make the most of great publicity opportunities.
The mining company wants to divest its 70 percent holding in the Mothae Diamond Mine in an effort to streamline its portfolio.
Why do so many jewelers keep lines that are not selling? Peter Smith thinks the answer lies in these two behavioral principles.
The “Argyle Phoenix” sold for more than $4 million at the auction house’s second jewels sale.
The annual list recognizes young professionals making an impact in jewelry retail.
Owner David Mann is heading into retirement.
While overall sales were sluggish, the retailer said its non-bridal fine jewelry was a popular choice for Valentine’s Day.
The mining giant also wants to offload its platinum business as part of an overhaul designed to “unlock significant value.”
Christie's is selling one of the diamonds, moving forward with its Geneva jewelry auction despite the cyberattack that took down its website.
The ad aims to position platinum jewelry as ideal for everyday wear.
Retailers can customize and print the appraisal brochures from their store.
The move follows a price-drop test run in Q4 and comes with the addition of a “quality assurance card” from GIA for some loose diamonds.
The late former U.S. Secretary’s collection went for quadruple the sale’s pre-sale estimate.
Three fifth graders’ winning designs were turned into custom jewelry pieces in time for Mother’s Day.
Kimberly Adams Russell is taking over the role from her father, David Adams, marking the third generation to hold the title.
As a token of womanhood, this necklace depicts when Venus was born from the sea.
The deal gives the retailer control over the distribution of Roberto Coin jewelry in the U.S., Canada, Caribbean, and Central America.
Show your mother some love with a piece of fine jewelry.
The company’s Easton location will remain open.