U.S. retailers discounted heavily on Black Friday to clear out bloated inventories, but customers responded with only modest traffic
U.S. Shoppers Kick Off Holiday Season With a Muted Black Friday
Crowds were thin in the late morning at Connecticut’s Stamford Town Center mall, with few shoppers at Kay Jewelers and just a small line at Forever 21. A couple at a Walmart Inc. supercenter near Dallas reveled in the lack of crowds as they bought presents for their grandchildren. At the Stonestown mall in San Francisco, shoppers were few and far between.
That’s far less than the US inflation rate of almost 8% during the 12 months ended in October. 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. The biggest discounts were in home appliances, apparel and health and beauty.
Gap Inc.’s Old Navy, which was offering 60% off most items, had a line so long that some shoppers turned around as soon as they entered the store. “I don’t even want to talk about it, it was so crowded in there,” said Miller, 43. “I’m going to come back another day.”But crowds like that appeared to be an exception. The checkout line at the toy section at a Macy’s in Stamford, Connecticut, had no wait and the cashier said the store had prepared for more shoppers.
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