DISCLAIMER: The opinions and comments expressed in this post/video and all posts/videos of the “Analyst Roundup” Substack only reflect those of the Author and do not reflect those of any other individual or party, especially the Author’s employer(s) or affiliations.
I did manage to get out and about on Friday, and I found the malls pretty busy, at least as how close I got to one.
Outside of those locations, it felt like a lot of retailers were rather quiet, at least compared to the rush associated everywhere less than a generation ago.
Business was up overall, based on the initial estimates of Black Friday retail sales (+3.4% compared to last year). At the same time, foot traffic was noticeably down (-3.2%), and I imagine this was felt worse by locations outside of major shopping centers.
Naturally, the real growth was online, see a 5% bump over last year.
The overall numbers are in line with the annual Holiday Shopping Forecast released in October by the National Retail Federation. As for continued weakness with in-store sales, this will likely be factored into additional closures for 2025, which is not something developers or local leaders want to hear in cities and towns across the country.
Share this post