The news coming out is that Wal-Mart is the reason behind plummeted Black Friday sales this year. WMT is one of the largest retail store chain in the United States which provides best quality products and guarantees customer satisfaction. As being one of the best out there, the company knows the value and significance of days like Black Friday and Thanksgiving.
Not only this but the company also offers amazing and block buster deals apart from such special days. And to be fair, these deals and discounts are tempting enough to lure a customer towards their market. Hence, prior to Black Friday and Thanksgiving Day, the company is pumped up for the Black Friday and Thanksgiving deals and discounts.
Hence the first time ever New Black Friday trend and pre Black Friday deals might be the reason of decline in sales by huge numbers. According to NRF, Total Thanksgiving weekend spending declined 11% to $50.9 billion. Apart from this, the retail stores across United States saw about 6 million fewer shoppers than expected. This is big and disappointed news because many reputable analysts predicted that this year will be the busiest and the biggest holiday shopping season of all time.
Lower sales could indicate that despite lower gas prices, middle-class Americans are continuing to struggle. Business Insider reports that “Retail giant Wal-Mart was the most notable company to jump the gun on Black Friday. The company discounted 20,000 items in the weeks leading up to the holiday, twice as many as the year before.” Moreover, an increase in inventory was also noticed in Wal-Mart as the number of items available online from 1 million to 7 million and offered more shipping options.
However, NRF CEO Matt Shay told Fortune that early deals from Wal-Mart and others could have affected traditional Black Friday weekend numbers. Shoppers might have seen a great deal from Wal-Mart earlier in the week and decided they were not going to go out to stores later.