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Chicago ShopperTrak RCT Corp.'s National Retail Sales Estimate (NRSE) and Retail Traffic Index (SRTI) Wednesday reported both retail sales and traffic were flat (0.0%) as compared to the previous week ending Nov. 15 as consumers stayed home preparing for the Black Friday weekend rush.
Although retailers were hoping early holiday sales and promotions would drive consumer traffic last week, it appears for the most part shoppers remained home waiting for deep discounts and door-buster sales on Black Friday and Black Saturday.
“The week before Thanksgiving is annually a rather slow period for retailers, so last week's flat performance was expected, even with the early discounts and promotions seen throughout the country,” said Bill Martin, co-founder of ShopperTrak. “Looking forward, we anticipate Black Friday weekend, which typically accounts for nearly 10% of all holiday spending, will once again be a significant event for the retail industry—with Black Friday leading the way as the number one shopping day this season.”