To see how clothing retailers fared, we took a look at foot traffic to the top 10 in the U.S. We did a straight comparison on foot traffic between Black Friday weekend last year and this year (11/28/19 – 12/2/19 and 11/26/20 – 11/30/20).
Across all 10 retailers, store visits dropped an average of 42%. Who fared best? Who took the biggest hit? We queried our proprietary geofencing marketing database. Here’s what we found.
When brands go in on discount-focused events like RetailMeNot’s Cash Back Day, which was held earlier this month, there’s concern that the long-term impact might be negative and that brands might be training customers to expect discounts. That expectation can reduce the perceived value of the brand’s products, and it can diminish brand equity over time.
The discount industry experienced 2012 as a major turning point. In the past 12 months, the deal provider landscape shook out even more, with the consolidation of many deals sites and the decline of some industry giants. Given the changed landscape, here are a few predictions about where the local offer and voucher space is heading…