Walmart and Target bucked the overall trend of a calmer Black Friday, as the big box retailers saw strong in-store foot traffic despite a large portion of retail moving online, according to Wall Street analysts.
Black Friday foot traffic declined about 6% since last year, the weakest result since 2014, according to ShopperTrak, but Walmart and Target attracted more in-store shoppers than the industry, analysts said. Meanwhile, online sales for Thanksgiving and Black Friday increased 17% year-over-year, according to Adobe Analytics.
Target and Walmart were stand-out performers this Black Friday with both retailers reaching strong traffic store-wide, according to most Wall Street retail analysts. Electronics and toys were the hot ticket items at the big box retailers, with a special emphasis on TVs, according to Bank of America.
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