mishtalk.com / Mike “Mish” Shedlock / November 23, 2016
Whatever numbers the retail association posts this weekend for Black Friday (typically overoptimistic assessments) are likely to be skewed this year even more.
The New York Times expects a Less Frenzied Black Friday as Millennials opt to stay away.
If you’re in the retail business in the United States, you probably really care about these two things: millennials and Black Friday.
But more and more, these two big drivers of the industry don’t mix inside stores — a dynamic that is reshaping one the country’s biggest shopping days.
Young people of all kinds, a coveted group for retailers because of their free-spending ways, are increasingly turning to their computers and phones to do their holiday shopping, spreading out more widely the days they open their wallets. Crowds on Friday, the unofficial kickoff of the holiday shopping season, will tilt older than a few years ago, and also, it appears, more cautious with their money.
As a result, the mix of retailers with high expectations for the day is changing quickly, skewing more toward dollar stores and discount retailers and toward essential products like food and cookware. And it is also making the day itself less and less important for the industry over all.