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Was Black Friday a Success?

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  • Description

    Janney Capital retail analyst Adrienne Tennant weighs in on retail sales.

  • Duration 3:58
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That's well the Turkey and the Black Friday sales are dying it's time for Cyber Monday expanding its estimated that spending will be a 21 point 4%.

From last year to one and a half billion dollars we're just talking about that it is great news for retailers but.

Happens after today's cyber spending bonanza will the -- stop spending.

I know that backdating capital retail analyst.

Adrienne -- joins me with what we can expect to seep from now until Christmas.

On those -- welcome to the show first of all those -- were staggering.

You know we're looking at one point five billion for online shopping -- I -- I was wondering how much of that was being cannibalized.

Away from retail and you realize that retail is still -- much -- juror number in terms of bricks and mortar going into stores fats like sixty billion right.

That that's right -- exactly that's right -- and our asset over the weekend that there is pipe close at 1059 billion being spent.

Over the entire Black Friday weekend.

-- online is still less then call -- 15% of the total spend.

So while it's growing really rapidly and it will eventually -- -- more and more it's it's an ongoing trend it's just gonna continue.

The fact of the matter but some more is still matter.

What we saw in the stores with this shift to the midnight hours and then unfortunately.

Kind of into the -- -- -- a little late hours at Thanksgiving Day.

On clearly there's a ship it's happening this broader over the weekend.

But there will be a while and they're always says in those first two weeks.

There's 32 days of holiday spending vs thirty and people like to wait they say yeah -- will get them a better deal.

-- is that true I mean a lot of people came around to trying to go back and say that you get a lot of deals in the beginning -- -- -- you better act quickly.

And obviously that's what merchants -- what's the true.

So the -- says he got to look at the inventory and the image way across the sector this year is very clean.

Inventory dollars are -- far less in the sales dollar growth.

So last year I would've said yes you should way and you could wait until the two weekends before and you're gonna get a better deal.

I don't think that's gonna be the case with hot -- -- says here you want something a particular colors skiddie like denim.

It will be sold out by the time you get to it in a couple weeks.

To the figure is very different than last year -- you think you know -- online April retail do you think that these this last weekend is a harbinger of what's to come and if so what -- Italian.

Yeah there are some years where we start with a really strong Black Friday in Minnesota Peters the overall holiday is just okay.

Because the inventory is so clean.

And because the promotions are essentially flat year on year.

Mean they may look very deep fifty up the whole store but generally people -- flat -- on those promotions I think it's actually a harbinger of a very decent holiday season.

Last I was up five point six I still think really positive five point six with a big number to be up.

So it -- I think it'll be up 34% that's very very healthy how people spending rare form or more percent this year.

When the -- he's struggling so much and unemployment is so high it's so tapped Anderson and they it is tough to understand what I would say is.

-- the upper income levels are probably a little bit more comfortable.

Sue perhaps in the past couple years they haven't spent to the full capacity of their ability to spend.

And so what you're seeing is that the upper income wobbles.

Luxury higher and higher -- As well as the affordable right affordable luxury.

You're seeing little bit more -- happening there friendly do you think that they -- -- -- increase of that three to 4% is driven by people have the most money because we're about to really raise taxes on.

I react exactly so so long says that that we don't know what's happening can't -- -- there's there's this notion of you know.

There's -- big fashion trend and never understand under estimate the female consumer when there's a need and a fashion need to buy an update -- wardrobe room.

Really answered yes I don't know really as interesting well please all the fiscal -- -- may -- Christmas is is part of my kikwit but we're not going to assert that matter anyway yeah.

Thank you so much -- declining us.

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