It’s no secret that each year more and more Americans are shifting their shopping habits to ecommerce and buying via their smart phones, tablets, and computers. In fact, according to the research firm, ShopperTrak, brick-and-mortar sales on Black Friday fell to $10.4 billion this year (down from $11.6 billion in 2014).
You would think that 51 Fridays in the red and one in the black isn’t the kind of “high” a retailer could get behind. Yet sacrificing margin for volume and getting myopic about shopper frenzy, most retailers once again placed all their bets on black last week because… hey, isn’t it the busiest shopping day of the year?
So if the U.S. World Cup team scores a goal to win a game 1-0 with five seconds left on the clock, how much is that goal worth? The easy answer, of course, is that whether it was scored with five seconds left on the clock or 89 minutes, its value remains the same: it’s still a 1-0 victory.
But we know better.
It’s crystal ball time…
Macy’s just announced that it will open its doors to shoppers on Thanksgiving. News to some, perhaps, but not to us…we predicted it last December. It’s the repost of “The End Of The ‘We’re Closed’ Sign.”
In a world where retailers are already drowning by discounting and starved for ways to create real value, Black Friday is a race to the lowest price, where the most creative thing retailers seem to think of is extended hours. Where are the multi-channel retailers figuring out how to incentivize shoppers to take them off the market early, or giving men a reason to stay home and avoid the mall altogether?