Discover key insights in the latest KRI (Kepler Retail Index) update for the week ending on 12/11/2023. This week’s insights reveal consumers have deferred spending two weeks ahead of Black Friday with sales conversion dropping to its lowest level down 9.7% year-over-year. The impact is most felt in apparel retail and outlet precincts, witnessing satrong declines in foot traffic. Notably, retailers have adeptly predicted this pre-Black Friday dip, adjusting their sales targets accordingly. As a result, share of sales in Black Friday week may increase as value-driven consumers hold out for further discounting and promotions.
November 20, 2023