Consumer Behavior

In-store sales revenue remains on decline

Photo by istock.com

December 7, 2022

The week of Black Friday marked the sixth consecutive week of in-store sales revenue declines for U.S. discretionary general merchandise with sales revenue 5% lower during the week of November 26 compared to a year ago.

That's a prime finding from data released by The NPD Group. Total November general merchandise retail saves revenue was 8% lower than in 2021, according to a press release on the findings.

"Black Friday appears to have brought more shoppers out to the stores, but that traffic clearly didn't amount to more spending," Marshal Cohen, chief retail industry advisor for NPD, said in the release. "Retailers and manufacturers need to find new ways to engage the consumer in making purchases, converting consumers from social browsers to active buyers."

In October The NPD Group released data revealing that nearly a third, 29%, of U.S. consumers are thinking about spending less this holiday season and spending is expected to be on par with 2021 levels.