US retailers eked out modest growth over Black Friday weekend with deep discounts that lured shoppers seeking a reprieve from stubborn inflation.
In-store traffic ticked up 2.9% at brick-and-mortar retailers versus 2021, according to preliminary data compiled by Sensormatic Solutions. Salesforce Inc. said the average consumer discount on Black Friday was expected to be greater than 30%, up from 28% last year and close to the 33% rate in 2019.
“Actual sales volumes reflect a little inflation, but it’s also reflecting some growth,” Bloomberg Intelligence analyst Jennifer Bartashus said by phone Sunday.
Source: Bloomberg
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