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Dec 1 - “Black Friday is Dying”: Shopping Malls Turn to “Ghost Towns” Amid Online Shift




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 2 weeks ago '06        #1
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RAZAH CUTS  topics gone triple plat - Number 1 spot x15
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Dec 1 - “Black Friday is Dying”: Shopping Malls Turn to “Ghost Towns” Amid Online Shift
 

 
Millennials would rather "Netflix and chill" while surfing for deals on their mobile devices.


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Black Friday is undergoing a transformative period where consumers are ditching brick-and-mortar stores for online shopping.

Reuters noted Friday, that traffic volumes at stores across the country on Thanksgiving eve were soft—and it’s likely the trend will continue through the weekend.

Another report via KeyBanc Capital Markets found traffic “somewhat muted at malls” during Thanksgiving and Black Friday.

KeyBanc’s analyst Edward Yruma attributed the decline to more online sales. KeyBanc’s note said Gap, Banana Republic, Express and Zara offered 50% discounts, but that still wasn’t enough to attract shoppers.

Though traffic was steady at Walmart, Target, and Lululemon.

As of noon, Salesforce.com observed online sales of $7.4 billion on Black Friday, 16% higher than a year ago.

“It speaks to the fact that we’re amidst this digital transformation that’s happening for both the consumers and the retailers,” Rob Garf, vice president of industry strategy and insights at Salesforce, told Bloomberg.

Some other possible reasons behind the weak turn out could be due retailers already offered an entire month of aggressive sales leading up to Black Friday. There are often limitations of how much a consumer can purchase as credit card rates soar to 25-year highs.

The National Retail Federation (NRF) polled consumers earlier this month who said most of their shopping has already been done, many of whom took advantage of the deals leading up to Black Friday.

NRF said retail sales for November through December are expected to increase by 3.8% to 4.2% YoY, for a total of around $730 billion, but a larger portion could be coming from e-commerce.

Another reason for the softer turn out could be generational trends. As millennials take over the workforce, they don’t want to follow in the footsteps of their ‘OK Boomer’ parents who have been herded like sheep into stores for decades. Millennials would rather “Netflix and chill” while surfing for deals on their mobile devices.

There’s also evidence that the US economy is rapidly slowing and the US consumer is pulling back on spending as a recession could be nearing. The chart below shows the industrial recession has likely transmitted weakness into the consumer, which could produce a rather weak holiday spending period.



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As for some evidence of consumers ditching brick-and-mortar stores this Black Friday, we turn to Twitter:











And to get an idea of what Black Friday used to look like before the consumer went broke and the internet came around… Here are a few short minutes of f*ghts, stampedes, riots, and utter chaos, all over cheap plastic junk that was mostly made in China.






visit this link https://themindunleashed. .. day-dying.html
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66 comments
 

 2 weeks ago '19        #2
Djay2020 
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Millennials k*lling everything
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 2 weeks ago '05        #3
Danger Zone 
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Sheit not in my gotdamn city it didnt. sh*t was a warzone. I got caught in the crossfire
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 2 weeks ago '11        #4
megalomaniacal 
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 Djay2020 said
Millennials k*lling everything
internet k*lling everything financially and socially,

Millinenials just take advantage of it
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 2 weeks ago '14        #5
Daptism 
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 Djay2020 said
Millennials k*lling everything
Ok boomer.
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Top 10 most propped recently  2 weeks ago '18        #6
DUCEDUCE 
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Im in LA sh*t was packed everywhere. But one thing I did notice all the black friday deals were just there. Retailers are just making it another shopping day, not like before.
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 2 weeks ago '05        #7
Based_One 
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This sh*t a fu*king lie. Malls were booming by me.
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 2 weeks ago '16        #8
Strong Side Iso 
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That twitter photo of Macy's is such a lie.

Its a photo from 7:40 in the morning.

And Macy's was open on Thanksgiving. That's when the Black Friday sale started.
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 2 weeks ago '05        #9
blah blah blah  topics gone triple plat - Number 1 spot x4
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Only bums and dumbasses flood malls
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 2 weeks ago '05        #10
pnoi89 
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 Based_One said
This sh*t a fu*king lie. Malls were booming by me.
Where you live doesn't represent the entire country. In my area in Denver, sh*t was booming too; however, gotta remember that "average America" looks like this:







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 2 weeks ago '15        #11
naledgestate 
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 Strong Side Iso said
That twitter photo of Macy's is such a lie.

Its a photo from 7:40 in the morning.

And Macy's was open on Thanksgiving. That's when the Black Friday sale started.
Of course they gotta be extra in selling their point.

That still doesn't take away the fact that malls are slowly dying
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 2 weeks ago '15        #12
MemphisBleek 
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The problem isn’t online shopping. Retail has taken the life out of Black Friday. It use to be a event. You would do it with friends and family just to have a good time and see the f*ghts. Now the door busters and sales start the Sunday before the main event starts at like 5pm on Thanksgiving. Remember when consumers were complaining about the stores starting the sale earlier and earlier? They wouldn’t listen and kept starting them earlier and was offering limited stock to get people in the store.

Greed
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 2 weeks ago '13        #13
Flow Mo88  topics gone triple plat - Number 1 spot x1
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Who wants to go out and shop with a bunch of animals?

Idiots act like wild rabid dogs on days like that, but would be all up in arms and begging and pleading if you decided to drop them off in the middle of the jungle where they can be animals with real animals. Act crazy and wild with them, nah you don't want that though huh?

I don't get it



Last edited by Flow Mo88; 12-02-2019 at 12:43 PM..
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 2 weeks ago '15        #14
amarti9 
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Eliminate Student debt

Wage growth should be on Pace with cost of living.

Remove bad credit reporting from 7 to 5 years.

Make credit scoring/history mandatory curriculum for all Junior and seniors in high school.
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 2 weeks ago '14        #15
guccibandana 
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People get smarter, and also less money
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 2 weeks ago '11        #16
Wes10 
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if I was in management in retail...like high level....I'd jump ship now and get my a*s in in management of online retail distribution or some sh*t. let the young bucks have the dying brick and mortar scraps.
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 2 weeks ago '05        #17
pnoi89 
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 amarti9 said
Eliminate Student debt

Wage growth should be on Pace with cost of living.

Remove bad credit reporting from 7 to 5 years.

Make credit scoring/history mandatory curriculum for all Junior and seniors in high school.
Aside on emphasizing this with the children, the rest does not address and will only enable the inept general public into repeating the same process with their financial illiteracy.
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 2 weeks ago '05        #18
pnoi89 
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 guccibandana said
People get smarter, and also less money
Or they’re just spending it online.
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 2 weeks ago '06        #19
"SS" 
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Every news outlet is reporting the biggest black Friday numbers ever...so idk about this one
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 2 weeks ago '14        #20
OCT DION 
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I went to the mall a month ago and that hoe was packed.
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 2 weeks ago '17        #21
lucifershammer 
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I think people go to the mall to socialize then to actually buy stuff. I read somewhere that the average purchase per mall visit was $20
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 2 weeks ago '05        #22
BurninLz 
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I made out like a fu*king champ. Physical stores damn near going outta business with deals plus you throw black friday on top, they were practically giving sh*t away
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 2 weeks ago '05        #23
pnoi89 
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 lucifershammer said
I think people go to the mall to socialize then to actually buy stuff. I read somewhere that the average purchase per mall visit was $20
$20 per person per visit is a lot of money. I rarely spend any money when I go out unless I’m getting my monthly free truffle at Godiva, free triple espresso and Nespresso, freebies at Chick-Fil-A, or I found some slick 90% off deals.
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 2 weeks ago '05        #24
pnoi89 
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 BurninLz said
I made out like a fu*king champ. Physical stores damn near going outta business with deals plus you throw black friday on top, they were practically giving sh*t away
Same. After cashback, rebates, Kohl’s cash, etc., I stocked up on enough wedding gifts, housewarming gift, etc. for the next decade, all to net out at around $0 out of pocket at the end of the day.
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 2 weeks ago '10        #25
eightytyson06 
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I stayed in crib and did a little online shopping but deals were horrible I had tabs open on my computer of items I wanted and just for kicks and giggles I refreshed those same items and price went up with the discount
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