NJ’s brick-and-mortar stores predict a busy Black Friday
Think everyone's going to be skipping Black Friday and doing their holiday shopping from behind the comfort of a computer screen?
In-person retailers aren't so sure. The Levin Management Corporation, a North Plainfield-based retail property manager, says its pre-holiday survey indicates a positive outlook for many "bricks-and-mortar" businesses.
Levin President Matthew Harding said three out of four of Levin's retail clients expect a good holiday shopping season.
We see that as a very positive outlook for retail, especially in light of some of the news about the prominence of e-commerce hurting brick-and-mortar retail," he said. "I think we are seeing a continuation of consumers shopping earlier, pushing their shopping around the time around Black Friday weekend, Thanksgiving weekend, and also increasingly before. I think that we all see Black Friday ads coming out early in November and so forth, and so I think that retailers have really tried to push sales earlier in the season and consumer behavior has followed that a little bit."
Harding said stores are utilizing e-mail, texts, digital coupons and WiFi in stores to enhance customers' shopping experience.
"Overall we see a bullish outlook for brick-and-mortar retailers that can adapt and evolve," he said. "We do have to keep in mind that the most recent U.S. Census survey shows approximately 8.5 percent of total retail sales are done online. So more than 90%percent are still done out of brick-and-mortar locations."
The National Retail Federation predicts 164 million Americans will shop over the Thanksgiving weekend and on Cyber Monday.
The Federation's research found 20 percent of consumers will shop on Thanksgiving Day, (32 million). But Black Friday will remain the busiest shopping day — 70 percent (115 million) of consumers will shop on that day. Forty-three percent (71 million) told the Federation they will shop on the Saturday after Thanksgiving. Forty-eight percent (78 million) are expected to shop on Cyber Monday.
Joe Cutter is the afternoon news anchor on New Jersey 101.5.
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