News Briefs

Simon Property Group is reporting a successful Black Friday weekend at its properties nationwide.

The nation's largest owner and manager of shopping, dining, entertainment and mixed-used destinations said it experienced a 6.4% increase in year-over-year traffic at its shopping centers over Black Friday weekend. Year-over-year traffic was up 5.9% on Black Friday and grew throughout the weekend, with a 6.3% increase on Saturday and an 8.2% increase on Sunday. (Data is verified by traffic counters deployed at Simon centers, the company stated.)

The growth was experienced across all of Simon's platforms, with malls up 7.1% over the weekend compared to last year.

"On Black Friday and throughout the weekend, we saw even more evidence of what we already knew: Malls are thriving," said David Simon, chairman, CEO, and president of Simon. "Popular brands throughout our portfolio reported double-digit sales increases over the weekend compared to last year. Coast to coast, we saw lines prior to opening and throughout the day at many of our centers across the country. We look forward to a continued strong holiday season."

While Simon’s properties had a successful weekend, in-store shopping as a whole appeared to take a dip, according to preliminary analysis by Sensormatic Solutions. Shopper traffic on Black Friday was down 8.2% compared to 2023, and U.S. shopper visits were down 3.9% from Nov. 24 through Nov. 29, in line with the in-store traffic trends seen year-to-date.

[READ MORE: Simon targets Gen Z with influencer campaign]

Simon’s data is verified by traffic counters deployed at Simon centers. The company operates shopping, dining, entertainment and mixed-use destinations with properties across North America, Europe and Asia.

Black Friday continued to reign as one of the biggest shopping days of the season. 

Total U.S. retail sales (excluding automotive but including restaurants) on Black Friday rose 3.4% over last year, according to Mastercard SpendingPulse, which measures in-store and online retail sales representing all payment types and is not adjusted for inflation. Online retail sales increased 14.6%, while in-store sales inched up 0.7% compared to Black Friday last year.

Jewelry, electronics and apparel remain the top gift sectors for the holidays, with particular strength in e-commerce for apparel on Black Friday. To complete the outfit, spending on footwear is tracking stronger than last year at this time.

Grocery spending saw growth during the holidays as consumers feasted at home in the two weeks leading up to Black Friday. Restaurant spending on Black Friday showed particular strength.

By region, Mastercard  saw spending outperform in pockets of the country, including Massachusetts, Washington D.C. and Colorado.

Mastercard SpendingPulse measures national retail sales based on aggregated and anonymized Mastercard insights, representing all payment types in select markets around the world.

Mastercard SpendingPulse defines “U.S. retail sales” as sales at retailers and food services merchants of all sizes. Sales activity within the services sector (for example, travel services such as airlines and lodging) are not included in the total retail sales figure.  

A global British athletic retailer is offering pay-over-time options in a new partnership.

JD Sports is teaming with payment network Affirm to let customers pay over time at more than 500 JD Sports and Finish Line locations nationwide, as well as online through the Affirm app. 

"At JD Sports, we’re committed to giving our customers the freedom to shop the latest sports fashion and footwear, while maintaining full control over their finances," said Henry Spear, JD Sports senior VP of digital operations. "We’re excited to partner with Affirm, and we know our customers will appreciate the added flexibility and transparency that Affirm offers as they shop."

In-store shoppers can snap a scan of the QR code at checkout with their smartphone to get started, while in-app shoppers can select Affirm as a payment option on the store page. 

Via either channel, shoppers will go through a quick eligibility check. If approved, they will see customized biweekly and monthly payment plans, with as low as 0% APR, and no late or hidden fees.

"In October, Affirm saw a 50% year-over-year increase in purchases at sporting goods retailers, indicating significant demand for sports fashion and footwear this holiday season," said Pat Suh, Affirm senior VP of revenue. "Through our partnership with JD Sports, we’re making it easier than ever to shop responsibly, whether on the go or at home."

[READ MORE: JD Sports revamps search functionality with AI]

Established in 1981 in England, JD Sports is a multichannel retailer of branded sports and casual wear with over 3,000 stores in 32 territories worldwide.

The amount parents plan to spend on holiday gifts this year depends on their age and how many kids they have.

That’s according to a new survey of 467 moms from pregnancy and parenting outlet What to Expect, which found that on average, parents spend $173 per child each holiday season. Parents with more than one child spend 18% less per child on average than those with one kid. This year, parents with only one child plan to spend $202 on presents, and if there's a sibling at home, they are expected to spend $170 on each child.

Looking closer at the child's age only changes the amount slightly: Kids ages one to four are expected to get $161 worth of presents, while babies 12 months and under are expected to get $168 worth of presents.

[READ MORE: TD Bank: Holiday shoppers shifting from traditional presents to experiences]

On average, Gen Z parents plan to spend $179 on each child, while millennials plan to spend $170 per kid. 

The difference in spending may come as a surprise considering these younger moms earn less than their elder counterparts. Gen Z moms in the survey have an average household income of $56,021, compared to the $76,747 that millennial moms earn annually.

According to a recent analysis from Forrester, total holiday retail sales in the U.S. will grow 3.7% year-over-year and reach $1 trillion in 2024, up from $964 billion during the 2023 holiday season. This predicted annual growth is lower than the previous four years but higher than the average of pre-pandemic years.

7-Eleven Inc. is teaming up with an online lottery courier service to serve customers in two states.

The convenience store giant is collaborating with Jackpot.com to exclusively enable its customers in Ohio and Massachusetts to sign up and play lottery games and scratchers on the Jackpot.com app or website. 

The program will initially be launched in more than 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, "7Eleven."

Jackpot.com has invested in protocols to allow customers of legal age to set spend limits and limits on daily deposits while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected.

"We're thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country," said Akshay Khanna, CEO and co-founder of Jackpot.com. "Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all."

7-Eleven is digitally expanding access to lottery services as it plans to build 500 new stores nationally between 2025-2027. The retailer is also deploying its Gulp Radio network, which delivers localized, targeted advertising and messaging to shoppers via in-store audio, across the U.S. in the next year.

[READ MORE: 7-Eleven in big expansion of its commercial radio network]

Based in Irving, Tex., 7-Eleven Inc. operates, franchises and/or licenses more than 13,000 stores in the U.S. and Canada. In addition to 7-Eleven stores, the company operates and franchises Speedway, Stripes, Laredo Taco Company, and Raise the Roost Chicken and Biscuits locations.

Verizon is personalizing and streamlining its app-based shopping and customer service experience with leading-edge artificial intelligence technology.

The wireless device and services retailer is launching an upgraded version of its myVerizon app for consumers and associates equipped with a number of new features supported by generative AI. 

Consumer features

On the consumer side, these features include a new streamlined user interface designed to deliver results within seconds, offering 24/7 availability. In addition, customers can leverage the myVerizon app to order products online and use Verizon express lockers to pick them up on the same day, as well as to order same-day delivery and expert in-home setup.

Customer service features

On the customer service side, a generative AI-based personal research assistant provides customer service representatives with analysis of thousands of resources to deliver personalized information in an amount of time Verizon says is subtracting 30 seconds from average call times as it continues learning and developing.

For store associates and customer service representatives, personal shopper and problem solver features help them anticipate customer needs and provide faster, more accurate service. With these mobile tools working in the background, Verizon says it has reduced transaction times in its retail stores and on the phone by roughly three minutes.

[READ MORE: EXCLUSIVE Q&A: Mobile innovation transforms customer experience]

"Customers want personalized experiences, and we’ve been able to create those for them by putting our generative AI tools to work," said Sowmynarayan Sampath, CEO of Verizon’s consumer unit. "These experiences, combined with savings they can’t get anywhere else, should make holiday shopping stress-free. This way, our customers can focus on other things, like spending time with family and loved ones."