RetailNext, a leading provider of in-store traffic analytics utilized by over 560 prominent global brands, has shared early insights from Black Friday Weekend 2024. The initial data reveals a 3.2% year-over-year decline in in-store foot traffic on Black Friday, reflecting broader trends of cautious spending and more deliberate purchasing in 2024.
Joe Shasteen, Global Head of Advanced Analytics at RetailNext, stated, “While foot traffic remains a key measure of offline performance, today’s consumers increasingly expect a seamless experience across all channels. Retailers who successfully integrate their physical stores with digital platforms will be better positioned to capture value this holiday season and beyond.”
The early results, which span data from tens of thousands of stores powered by RetailNext technology, show the following:
Traffic Trends:
| Black Friday (Nov. 29) | Saturday (Nov. 30) | Fri/Sat Average (Nov. 29-30) |
|---|---|---|
| Overall U.S. | -3.2% | -0.8% |
| By Region | ||
| Midwest | -7.0% | -4.4% |
| Northeast | -2.1% | -1.7% |
| South | -3.5% | -0.2% |
| West | -3.2% | -1.1% |
| By Category | ||
| Apparel | 0.4% | 1.9% |
| Footwear | 1.3% | 3.3% |
| Health & Beauty | -7.2% | -4.3% |
| Home | -4.1% | -5.8% |
| Jewelry | -0.2% | 1.4% |
“The early data from Black Friday weekend offers vital insight into how consumers are navigating today’s economic environment,” said Shasteen. “While overall traffic remains subdued, there are noticeable reversals of trends seen throughout the year. Footwear, which showed declines in nearly every month of 2024, performed strongly during Black Friday weekend. On the other hand, Health & Beauty, which had exceptional growth in 2023, saw a return to more normalized traffic.”
Regional Trends:
The Midwest experienced the most significant decline, driven by cold winter weather, while the Northeast also saw lower turnout, although less sharply. Weather conditions have proven to be a key factor in whether shoppers choose to visit stores or wait for more convenient opportunities. Additionally, external pressures such as rising grocery prices and the cost of living have influenced shopper behavior, with inflation-weary consumers carefully balancing discretionary spending.
Foot traffic in 2024 is down by 3.1% year-over-year, and sales have slipped 4% as consumers remain cautious with their purchases. Retailers have adapted by extending Black Friday promotions to create a longer shopping window, allowing consumers to spread their purchases over time and find better value.
“This extended shopping window has reduced the singular significance of Black Friday itself,” Shasteen noted. “Footwear, Apparel, and Jewelry saw significant traffic boosts on the Saturday following Black Friday, showing that consumers are diversifying their shopping across multiple days. These changes highlight a shift toward more flexible shopping behavior, enabled by extended promotions and reducing the reliance on Black Friday as the central shopping day.”
Shasteen emphasized the importance of integrating online and offline strategies to meet the evolving expectations of consumers. “Shoppers now expect a seamless experience across all platforms. Retailers who connect their physical stores with digital offerings will be better positioned to capitalize on opportunities this holiday season and in the future.”
Leading up to Black Friday, there was a slight decline in year-over-year traffic; however, sales saw an uptick, driven by increased conversion rates (CVR) and higher average transaction values (ATV). Consumers are becoming more strategic with their spending, opting for fewer but higher-priced items to maximize the value of their purchases.
RetailNext will continue to provide additional insights, including sales data, as more information becomes available. All statistics are subject to change as further reports are updated by retailers.
About the Data:
The data is sourced from tens of thousands of U.S. stores that utilize RetailNext’s technology. The metrics exclude automobiles, petroleum, and warehouse clubs and cover a wide range of retail segments, including major brands and smaller specialty stores. The data includes stores open in both 2024 and 2023 for comparison.
About RetailNext:
RetailNext is a pioneer in retail vertical IoT, offering e-commerce-style shopper analytics to brick-and-mortar stores, brands, and malls. Through its centralized SaaS platform, RetailNext automatically collects and analyzes shopper behavior, providing real-time insights to enhance the shopper experience.
With over 560 retailers in more than 95 countries, RetailNext’s analytics software helps brands increase same-store sales, reduce theft, and eliminate inefficiencies. RetailNext is headquartered in Campbell, California.
