Robust Black Friday Sales Signal Strong Retail Performance
Black Friday 2023 has delivered a resounding success in the retail sector, showcasing impressive growth in both e-commerce and brick-and-mortar stores. At GDL Capital, these trends are a reaffirmation of our investment strategy, highlighting the continued relevance and potential of strip malls in the retail ecosystem.
Record Online Sales: With a 7.5% increase from last year, online Black Friday sales hit a new high of $9.8 billion, signaling a strong consumer shift to mobile purchasing, which accounted for more than half of these sales.
In-Store Shopping Resurgence: Physical retail stores experienced a 2-5% increase in shopper traffic, with the Midwest and Northeast regions leading the way, and notable jumps in health and beauty and jewelry store visits.
Global and Domestic Growth: Globally, Shopify reported a 22% increase in Black Friday sales, while in the U.S., mobile devices dominated online sales. The use of Buy Now Pay Later options also surged, indicating a shift in consumer payment preferences.
The positive Black Friday statistics are a clear indicator of the thriving retail market, which bodes well for the strategic positioning of GDL Capital in retail center investments. The blend of e-commerce strength and physical store vitality underscores the importance of multifaceted retail spaces like strip malls, which serve a diverse consumer base. These trends solidify our conviction in the vitality and future growth of retail real estate investments.
*Read more in Forbes’ article titled Black Friday Online Sales Up 7.5% And In-Store Shopping Visits Up written by Shelley E. Kohan on November 26, 2023.
