In its second-largest acquisition, Amazon buys the company for $970 million.
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Chains including Old Navy, Wal-Mart, Kmart, Target, Macy’s, Office Depot, Belk and JoS A. Bank Clothiers all opened their doors on Thanksgiving. Macy’s is No. 12 in the Internet Retailer Top 500 Guide, Walmart.com No. 4, Office Depot No. 7, Belk No. 162, Target No. 18 and JoS A. Bank Clothiers, No. 191. Kmart.com is part of Sears Holdings Corp., which is No. 6 and Old Navy is part of Gap Inc., No. 19.
ShopperTrak, which monitors traffic and sales at major malls and retail chains, estimates bricks-and-mortar shopper traffic increased 2.8% on Thanksgiving and Black Friday compared to the same days last year. Retail sales also increased by 2.3%, as U.S. shoppers in stores spent an estimated $12.3 billion across the two days.
However, while store sales and traffic were up for Thanksgiving and Black Friday combined, the numbers tell a different story when viewing only data for Black Friday alone. When compared to Black Friday last year, bricks-and-mortar shopper traffic fell 11.4% and retail sales decreased by 13.2%, according to ShopperTrak.
“The Black Friday shopping experience is changing with more shoppers choosing to go out on Thanksgiving Day,” says Bill Martin, ShopperTrak founder. “Consumers increasingly research products online before entering stores. When they arrive, customers know exactly what they want to buy—retailers now need to make their experience a satisfying one.”