US Black Weekend results
Bloomberg reflected on the Black Weekend sales results in the US - their takeaway from the past few days is that Americans are spending at unprecedented levels, and the overwhelming majority of that growth is online. While brick-and-mortar chains can rightfully claim their stores help boost web sales by giving shoppers a chance to see products in person, the growth in web sales means lower margins. The shift online means that chains have to spend more on already-elevated shipping costs, and many now offer zero or reduced rates for mailing packages during November and December, which only exacerbates the hit to results. In general, physical stores had a disappointing four-day period with visits down 6.6%, but not all brick-and-mortar chains and categories are the same. For example, sales of electronics and appliances rose 6.4% over the weekend. The four-day Black Weekend delivered $60 billion in sales, compared to $41 billion in 2012 and $57 billion in 2017.