Events

Move over Cyber Monday, Cyber Week is the new buzz term.    Cyber Week, comprised of Thanksgiving Eve, Nov. 23 through Cyber Monday, Nov. 28, is attracting more shoppers as they “grow more and more comfortable shopping on their phones and tablets, opening up the timetable for brands to reach them during the holiday shopping season," said Tony Zito, CEO, Rakuten Marketing.  

Average spending per person over Thanksgiving weekend totaled $289.19, down from $299.60 last year, according to a survey conducted by National Retail Federation.  

  The Fung Global Retail & Technology team visited 35 stores throughout the Greater New York City area and Las Vegas on Black Friday for a first-hand view on traffic and sales.  Here are their top five takeaways from their store visits:  Cyber Monday Starts Early for Walmart:  Walmart kicked off its Cyber Monday deals at 12:01am EST on Friday for the first time ever, as it aims to grab customers ahead of its competitors. Last year, the company posted its Cyber Monday deals on the Sunday evening following Thanksgiving.

The National Retail Federation welcomed a judge’s ruling late Tuesday that will prevent the Labor Department’s changes to federal overtime rules from taking effect as scheduled on Dec. 1.   U.S. District Judge Amos Mazzant issued a preliminary injunction in a lawsuit brought by NRF, attorneys general from 21 states and dozens of business groups arguing that the changes are unlawful. The ruling effectively pauses implementation of the rules until the courts reach a final decision on their legality.  

A federal judge in Texas issued a preliminary injunction blocking an Obama administration rule that would have allowed more employees to qualify for overtime pay by raising the salary limit to $47,476 from $23,660. The new regulations were set to take effect on Dec. 1.   The Labor Department said it “strongly disagreed” with the decision and was “considering all of our legal options.”        

The South Plains Mall in Lubbock, a dominant retail center in the Texas Panhandle for 40 years, this week unveils a series of updates for customers.   The Macerich-owned mall has redesigned all three of its entrances, added new flooring and lighting throughout the building, and introduced amenities including center-wide Wi-Fi, charging stations, soft seating, and new restrooms.  

In October of this year, Periscope By McKinsey conducted online research of more than 1,000 consumers in the U.S. to understand their attitudes towards Black Friday and expected shopping patterns.