Specialty Retail Is Winning: 2024 Black Friday Report
This one-pager features insights from our community of Specialty Retailers across North America who leverage StoreForce to boost productivity and performance in their brick-and-mortar stores.
Specialty Retail Is Not Like The Rest
If you’ve been following the news, you may have read that this Black Friday was particularly challenging for brick-and-mortar retailers. However, Specialty Retailers are not like their Department Store or Big Box counterparts. Shoppers were still out looking for deals—just without the usual frenzy—creating a more organized and civilized shopping experience. Except for Friday morning—that was definitely busy!
Our data shows that this calmer, more measured approach to purchasing is consistent with last year’s patterns—and, importantly, it did not negatively impact Specialty Retail sales targets.
In fact, the breakdown of sales across the weekend was nearly identical to 2023:
▪ Friday: 54.9% of 2024 sales vs. 55.4% in 2023
▪ Saturday: 27.1% of sales in both years
▪ Sunday: 18% of 2024 sales vs. 17.5% in 2023 While the atmosphere may have felt slightly di erent in some retail stores, the steady sales distribution underscores that Black Friday remains a key in-store shopping event for Specialty Retailers.
So... How Was Black Friday Really?
Black Friday got o to a strong start, with solid tra c numbers throughout the day. Notably, tra c surged in the morning and late afternoon, laying the foundation for a successful weekend:
▪ 12 p.m. Tra c increased by +26% YoY, signaling a strong start to the day.
▪ 3 p.m. A slight dip of -3% YoY was observed but quickly rebounded.
▪ 6 p.m. Tra c picked up again with a +6% YoY increase.
End of Day: Sales closed with a solid +9% YoY growth, rounding out a highly productive Friday.
Strong Weekend Results Despite Modest Traffic
Although some assumed demand was lower this year, the numbers told a different story. Traffic remained consistent, with a slight 1% increase year-over-year (YoY). However, the real success was in how the associates brought home record-breaking in-store sales.
▪ Overall weekend sales increased by +10% YoY, showing the strength of in-store performance.
▪ Notably, Sunday sales saw the biggest surge, with a 13.27% increase YoY, underscoring the impact of a strong finish to the weekend.
▪ Average Transaction Value (ATV) increased by 7.1% YoY, driving an increase in sales despite flat traffic.
▪ The average price per item rose by $4-$5 YoY, indicating consumers were not shying away from increased costs, even amidst economic uncertainty.
Meaningful Customer Interactions Drove Success
Steady conversion rates highlighted Retailers’ ability to capture every opportunity through meaningful customer interactions. StoreForce scheduling and real-time data tools ensured Retailers scheduled their top associates during peak hours. In-the-moment insights enabled teams to pivot and prioritize e orts, ensuring that all corporate targets were not only met but exceeded. Notably, the average store Visit Value saw a $1.25 increase YoY, reflecting how e ectively associates upsold and converted high-ticket items. This contributed to the overall rise in both Visit Value and Average Transaction Value (ATV). Despite higher prices, shoppers were undeterred, favoring quality over quantity. This was evident in a slight decrease in units per transaction YoY, emphasizing a shift in consumer preferences.
Top-Performing Verticals
Gift/Novelty and Activewear stood out as the top-performing retail verticals this Black Friday. Shoppers may have been driven by the search for perfect holiday gifts or the desire to gear up for New Year’s fitness goals. Whether fueled by compelling discounts or the spirit of giving, these categories thrived and captured the season’s shopping energy, delivering impressive sales results.
Looking Ahead
Overall, Black Friday 2024 was a success for Specialty Retailers across North America. With momentum on our side, the holiday season is shaping up to be equally promising. Congratulations again to all Specialty Retailers on a fantastic Black Friday weekend. Let’s keep up the great work and make this holiday season one for the books! For insights on how to keep this momentum going, check out StoreForce’s Holiday Readiness Guide. It’s packed with tips to help you drive sales and performance throughout the season while using StoreForce.
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