RAPAPORT... In-store retail sales fell 3.1 percent year on year for the week that ended on December 22 and foot traffic plunged 21.2 percent, according to ShopperTrak.
“Bad weather throughout the country kept some shoppers away from stores,” said Bill Martin, ShopperTrak's founder. “This past week was their final opportunity to complete their holiday shopping before Christmas – and though many did finish making their purchases, retailers did not see as many shoppers as last year.”
ShopperTrak observed that despite markdowns and promotional efforts, sales slipped 0.7 percent on Super Saturday, which was December 21 and in-store traffic decreased 18.1 percent. ShopperTrak predicts that post-Christmas markdowns and sales will drive robust retail sales and store traffic in the days to come, particularly on December 26 and 28. So far this season, retail sales have increased about 2 percent since November 1, according to ShopperTrak, which predicts a 2.4 percent increase for the whole Christmas season.
“Many people who have the day after Christmas off of work will be out shopping for end-of-season deals,” said Martin. “Retailers should track their stores’ conversion rates closely to turn more after-Christmas browsers into buyers.”