In-store traffic analytics provider RetailNext is sharing early insights from Black Friday Weekend 2024, indicating a 3.2 percent year-over-year decline in in-store foot traffic for Black Friday. The company believes the weakness reflects broader trends of cautious spending and intentional purchasing that have defined 2024.
Thanksgiving Weekend In-Store Traffic Trend by Category of Region
Preliminary 2024 v. 2023
“The early data from Black Friday weekend provides critical insight into how shoppers are navigating today’s economic environment,” said Joe Shasteen, global head, Advanced Analytics, RetailNext. “While overall traffic remains subdued, we saw some notable reversals from trends observed throughout the year. Footwear, which experienced year-over-year traffic declines in nearly every month of 2024, showed resilience during Black Friday weekend. In contrast, Health & Beauty, after an exceptional 2023 performance with a 12 percent increase in Black Friday weekend traffic, reflects a normalization this year.”
Regional performance during Black Friday Weekend saw the Midwest experiencing the sharpest decline year-over-year, influenced by cold winter weather. In the Northeast, adverse conditions—though similar to last year—also dampened turnout but to a lesser extent, underscoring how external factors like weather can significantly impact shoppers’ decisions to venture out or wait in line.
Additional pressures, including high grocery prices and the rising cost of living, have further influenced shopper behavior, with inflation-fatigued consumers carefully balancing discretionary spending.
RetailNext said that foot traffic across 2024 has been down 3.1 percent year-over-year, with sales slipping 4 percent as shoppers remain cautious about spending. Retailers have reportedly responded by extending Black Friday deals to widen the shopping window, helping consumers find value while spreading out their purchases over time.
“This extended shopping period has ultimately decreased the singular importance of Black Friday itself,” continued Shasteen. “Categories like Apparel, Footwear, and Jewelry saw notable traffic increases on the Saturday following Black Friday, indicating that consumers are spreading out their purchases. These trends show a shift in shopping behavior, with extended promotions allowing for more flexibility and reducing reliance on Black Friday as the primary shopping day.”
Shasteen also noted the growing importance of integrating online and offline strategies to meet evolving consumer expectations. “While foot traffic remains a cornerstone for measuring offline performance, today’s shoppers are increasingly expecting a seamless experience across all channels. Retailers who successfully connect their physical stores with digital platforms will be better positioned to capture value this holiday season and beyond.”
In the week leading up to Black Friday, traffic reportedly saw a slight decline year-over-year for the same period, but this was offset by a positive result for sales as both conversion rates (CVR) and average transaction value (ATV) increased, according to the RetailNext data.
“These trends highlight how consumers are becoming more deliberate with their spending, opting for fewer but higher-priced items to maximize the value of their purchases,” the company said in its report.
About the Data
Derived from data collected at tens of thousands of U.S. stores across hundreds of brands operating on the RetailNext smart store platform, the data reflects in-store trends across a wide variety of retail segments, from major big-box brands to standalone and specialty retail operations. Metrics exclude automobiles, petroleum, and warehouse clubs, and include stores across the U.S. that were open both this year and last year.
Image courtesy Macy’s
