Black Friday sees fewer shoppers in U.S. stores as spending moves online

Black Friday sees fewer shoppers in U.S. stores as spending moves online
By Melissa Fares and Nandita Bose

NEW YORK/WASHINGTON (Reuters) – Fewer people lined up outside stores as Black Friday shopping kicked off, suggesting early discounts offered by retail chains and a surge in online buying may have taken the shine off America’s biggest shopping day.

Spot checks across the country showed there were fewer shoppers this year as retail chains started offering discounts earlier than usual to make up for a shorter holiday season.

Some shoppers also worried that tariffs imposed by President Donald Trump on Chinese imports would make their holiday shopping more expensive, though many large retailers had not raised prices to protect margins.

“There were definitely some concerns about prices due to what we see in the news about the trade war, but I haven’t seen the impact yet, so I am planning to spend about the same this year as I have in the past,” said Jay Smith, 28, who was shopping at a Macy’s in Pentagon City to buy clothes and toys for her family.

While store traffic still remains an important indicator, a lot of shopping during Thanksgiving and Black Friday now happens online. Adobe Analytics, which measures transactions from 80 of the top 100 U.S. online retailers, estimates $7.5 billion in online sales for Black Friday, growth of over 20.5% year-over-year.

Online sales on Thanksgiving Day alone jumped 17% to $4.1 billion in the United States, according to Salesforce. Global online revenue rose 24% to $20 billion.

Companies including Walmart Inc , Target Corp , Costco Wholesale Corp  and Best Buy Co Inc  have bulked up their online presence, deliveries and fast in-store pickups to attract customers.

Though Black Friday remains an important day for holiday shopping, its relevance is fading as the condensed shopping season this year has accelerated early promotions and spending. Retailers have six fewer days to make sales between Thanksgiving and Christmas Day.

That has pulled spending into early November. More than half of consumers polled by the National Retail Federation (NRF) in the first week of this month had already begun making purchases. On average, Americans had already completed almost a quarter of their shopping, the most in the history of NRF’s surveys.

“We’ve seen many merchants start their promotions pretty much right after the trick-or-treaters have gone to bed,” said Lauren Bitar, head of retail consulting at analytics firm RetailNext.

Sales made prior to Thanksgiving and Black Friday could erode “the spike that we have seen in sales dollars historically,” Bitar said.

Several shoppers on Friday said they regularly make sure they are getting the best deal by making price comparisons, oftentimes as they are shopping in-store.

“I will come to the mall, look at prices and go back and check them online,” said Dick Doyle, 76, who was shopping at a Modell’s Sporting Goods while his wife was next door at Nordstrom Rack <JWN.N>. Doyle is an Amazon <AMZN.O> Prime member, which keeps him “locked in” to shopping the online retailer.

“Prices and discounts online are competitive to what’s available in stores,” he added.

Meanwhile, in France, activists staged protests against Amazon on Friday, denouncing the rampant consumerism typified by the annual Black Friday shopping frenzy.

(Reporting by Melissa Fares in New York, Nandita Bose in Washington, Richa Naidu in Chicago and Lisa Baertlein in Los Angeles; Additional reporting by Uday Sampath in Bengaluru; Editing by Sweta Singh, Saumyadeb Chakrabarty and Nick Zieminski)

PTL Shop is Back and Better than ever in March!

PTL Shop hosts John and Nate

By Kami Klein

Morningside is happy to announce that our PTL Shop LIVE broadcasts are returning each week beginning Wednesday, March 6th from 2-4pm ct!  Our hosts will also be there every weekday from 4pm to 7pm ct showcasing new products selected with you in mind.   We are so excited to visit with you and offer amazing deals with incredible prices, all from the convenience of your home! PTL Shop features items in apparel, jewelry, Christian books and media, products for your home and garden and new gizmos and gadgets you just have to see!  

PTL Shop is the only Faith-Based Home Shopping Network!  Not only are there amazing bargains on our site and during the broadcasts, but you will also enjoy your purchases knowing that you are supporting a ministry that touches millions.  You are making a difference!

To join us, mark your calendars for Wednesday, March 6th between 2pm and 4pm ct and go to ptlshop.com and simply push “Watch Live” or tune in with your Roku or Apple TV by going to the PTL Television Network channel on live stream. The best part is you can shop online at ptlshop.com ANYTIME!  

PTL Shop, THE Faith-Based Home Shopping Network!   

 

U.S. stocks attempt rebound

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 26, 2018. REUTERS/Jeenah Moon

By Medha Singh

(Reuters) – U.S. stocks were attempting a modest rebound on Wednesday, boosted by technology shares and an Amazon-led jump in retailers, following four sessions of steep losses that pushed the S&P 500 and Dow Industrials near bear market territory.

After a strong start, the S&P and Dow swung between gains and losses. At its session low, the S&P hit a fresh 20-month low and came within two points of entering bear market territory, measured by a drop of more than 20 percent from a closing high.

The gains were led by technology stocks, which rose 1.49 percent. Their 9.2 percent slump in the past four sessions was the steepest among the 11 major S&P sectors, while the S&P 500 tumbled 7.7 percent.

Amazon.com Inc jumped 4.02 percent after reporting a “record-breaking” season. The stock was giving the biggest boost to the S&P and Nasdaq and led the consumer discretionary index up 1.49 percent.

But investors anxieties were far from gone. President Donald Trump renewed his attack on the Federal Reserve on Christmas, blaming it for the market slump.

Trump also said the U.S. government shutdown, now in its fifth day, would last until his demand for funds to build a wall on the U.S.-Mexico border is met.

A little over 2,100 stocks on the New York Stock Exchange and the Nasdaq hit 52-week lows. That compares with at least 2,600 stocks breaching new lows in the past three sessions.

“The market doesn’t look so healthy. The concerns are government shutdown, the economy, the President – what time is he going to tweet out about Federal Reserve,” said Larry Benedict, founder of the Opportunistic Trader in Boca Raton, Florida.

“We’re seeing the same thing recently and it’s not really good. It opens up every day and it’s met by selling and it ends nearer the low or on the low than the high. For the market to make a bottom, you need a bit of capitulation or panic bottom.”

The S&P was up 24.41 points, or 1.04 percent, at 2,375.51, at 11:37 a.m. ET, a day after the Christmas holiday.

The Dow Jones Industrial Average was up 196.31 points, or 0.90 percent, at 21,988.51 and the Nasdaq Composite was up 98.42 points, or 1.59 percent, at 6,291.34.

Eight of the 11 S&P sectors were higher, with the defensive utilities. SPLRCU real estat and consumer staples flat to lower.

Energy stocks rose 1.8 percent as crude oil prices rebounded.

Retailers jumped 3.14 percent, led by Amazon after a Mastercard report showed U.S. holiday sales were the strongest in six years.

The heavy-weight FAANG group, Facebook Inc, Amazon, Apple Inc, Netflix Inc and Alphabet Inc, rose between 1 percent and 4 percent.

The S&P ended Monday 19.8 percent below its all-time closing high, with roughly three-fourths of its stocks already in a bear market.

The Dow finished Monday 18.9 percent lower than its closing high. The Nasdaq is already in bear market, along with the Dow Jones Transport Average and small-cap Russell 2000 index.

Advancing issues outnumbered decliners by a 1.70-to-1 ratio on the NYSE and a 1.89-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week highs and 194 new lows, while the Nasdaq recorded five new highs and 455 new lows.

(Reporting by Medha Singh in Bengaluru; Editing by Anil D’Silva)

Deals lure U.S. Black Friday shoppers, biggest sales gains online

A large crowd of people shop during a Black Friday sales event at Macy's flagship store on 34th St. in New York City, U.S., November 22, 2018. REUTERS/Stephanie Keith

By Nandita Bose and Chriss Swaney

NEW YORK/PITTSBURGH (Reuters) – U.S. shoppers formed long lines at store checkout counters on Black Friday to snap up deep discounts on clothing and electronics, offering evidence that a healthy economy and rising wages are translating into stronger consumer spending at the start of retailers’ make-or-break holiday season.

“I am spending more, the mood generally is more upbeat,” said Sharon Neidert, 57, visiting New York City from Ohio. “My daughter moved out this year so I have more disposable income,” said Neidert, a manager at a software company.

People shop during the Black Friday sales shopping event at Roosevelt Field Mall in Garden City, New York, U.S., November 23, 2018. REUTERS/Shannon Stapleton

People shop during the Black Friday sales shopping event at Roosevelt Field Mall in Garden City, New York, U.S., November 23, 2018. REUTERS/Shannon Stapleton

While online sales were up substantially and traffic looked healthy at stores offering discounts, detailed numbers on brick-and-mortar holiday sales will not be available for several days.

“Overall, Black Friday doesn’t have the sense of urgency as in the past and feels more like a busy regular weekend day in many of the stores,” said Dana Telsey at Telsey Advisory Group.

“Many of the promotions were available for the past couple of weeks,” Telsey said. “We haven’t noticed desperation from any retailer.”

Shares of U.S. department stores Macy’s Inc, Kohl’s Corp, J.C. Penney Co Inc and Target Corp were all down between 1 and 3 percent on Friday and weighed on the broader S&P 500 retailing index, down 0.15 percent.

Investors are concerned that retail peaked in the second quarter and business will slow down as comparisons get tougher, said Brian Yarbrough, retail analyst with Edward Jones.

Victoria’s Secret owner L Brands, Walmart Inc and American Eagle Outfitters were some of the top gainers, rising between 0.5 to 3 percent.

STRONG ONLINE SALES

Shoppers spent $643 million online by 10 a.m. ET on Black Friday, with smartphone sales lifting overall online spending by 28 percent from a year ago, according to Adobe Analytics, which tracks transactions at 80 of the top 100 U.S. online retailers.

Online spending is on track to hit $6.4 billion on Friday, which is likely to either match or surpass last year’s Cyber Monday revenue of $6.6 billion, Adobe said. Online sales on Thanksgiving Day were up 28 percent at $3.7 billion.

The National Retail Federation forecast U.S. holiday retail sales in November and December will increase between 4.3 and 4.8 percent over 2017 for a total of $717.45 billion to $720.89 billion. That compares with an average annual increase of 3.9 percent over the past five years.

About 38 percent of American consumers plan to shop on Black Friday, and six in 10 expect to make at least half of their holiday purchases on that day, a Reuters/Ipsos poll showed last week.

DEAL FRENZY

Shoppers picked up big-ticket items such as TVs, Apple Inc, iPads and Watches at Target, while phones, toys, gaming consoles and cookware were top sellers at Walmart Inc.

Some of the deals:

– An H&M store in Manhattan offered 30 percent off everything in-store and online.

– Macy’s in Herald Square, Manhattan, sold a Coach designer wallet, originally $225, for $53.

– Midtown Comics was taking 25 percent off everything at its Manhattan locations until noon.

– An Eddie Bauer in Chicago offered 50 percent off all items.

– At a Chicago-area Pandora, which makes popular charm bracelets that can cost up to $1,000, jewelry was 35 percent off before 10 a.m. and 25 percent off for the remainder of the day.

– J Crew clothing was 50 percent off. Its site experienced some technical difficulties before coming back up.

– Walmart was selling a Google Home mini for $99.

– Buy one, get one free pajamas at Victoria’s Secret.

Charlotte Jackson, from London, come to New York with her mother for Black Friday shopping.

“Black Friday isn’t as big of a deal back home,” Jackson, a 27-year-old tax adviser, said while shopping for lingerie and pajamas at Victoria’s Secret.

MORE TOYS AT TARGET, JC PENNEY

Many retailers, reacting to the bankruptcy of the Toys ‘R’ Us chain, are catering to parents.

Target said in October it planned to dedicate nearly a quarter of a million square feet of new space to its toy business across 500 of its stores. The discount chain’s customers will also be able to shop for more than 2,500 new and exclusive toys, Mark Tritton, Target’s chief merchandising officer said.

“Toys ‘R’ Us had better quality for toys,” said Ashley Drew, 29, shopping for her 5-year-old daughter at a Los Angeles-area Walmart, next door to the empty shell of a Toys ‘R’ Us store.

Department store JC Penney Co Inc, known for its mid-priced apparel, has also made a push into toys.

Carolyn Pertette from Wilkinsburg, Pennsylvania, shopped in the early morning at the Waterfront Mall in Pittsburgh. She said she was upset about the closing of Toys ‘R’ Us.

“I’m concerned about where I’m going to get toys for the kids,” she said.

Shortly before 6 a.m. on Friday, shoppers were banging on the door at a Bath & Body Works in the Waterfront Mall in Pittsburgh, lining up for discounted candles, soaps, and lotion, while long lines formed at checkout counters in a Dick’s Sporting Goods store in the mall.

There was little evidence of the delirious shopper frenzy of Black Fridays from past years, in other parts of the country, especially the Northeast, where crowds were thin due to cold weather.

An Athleta clothing store in Tyson’s Corner, Virginia, provided hot chocolate with marshmallows to women in line for the dressing room.

(Additional reporting by Shannon Stapleton in Long Island, Lewis Krauskopf, Jennifer Ablan and Anna Irrera in New York, Lisa Baertlein in Los Angeles, Siddharth Cavale in Bangalore; Writing by Nick Zieminski; editing by Patrick Graham, Saumyadeb Chakrabarty and Bill Rigby)

First, we Gobble, then we SHOP! The Jim Bakker Show super Cyber Sale Monday live stream event is here November 26th beginning at 9 am CT!

The Jim Bakker Show Super Cyber Monday event!

By Kami Klein

Want some joy and fun while you Christmas shop from your very own living room?  Are you ready for some great gift ideas and deals? You are invited to join Jim and Lori Bakker along with family and friends on Monday, November 26th beginning at 9 am ct for our Live Stream Cyber shopping event!

Super Cyber Monday is becoming a tradition for Morningside!  We love these live broadcasts and the chance to share your day! You just never know what kind of Christmas surprises will happen!  Watch for some incredible bargains on gifts sure to make anyone on your list happy! Prices will be marked down on everything we have to offer so your Christmas shopping budget can go a very long way!

Tune into our Live Stream Cyber Monday sale on the PTL Television Network on your Roku, Apple TV, Amazon Fire TV or by going to jimbakkershow.com or the PTL Television Network at Ptlnetwork.com.beginning at 9 am CT November 26th.  Every gift you buy from our store is also a gift to our ministry!

Give Christmas Gifts with real meaning this year and join us for our super Cyber sale on Monday, November 26th! Happy Shopping!!!  

 

U.S. online spending set to rise 14.8 percent in 2018 holiday season

FILE PHOTO - A worker gift wraps a holiday order for a customer at the Amazon Fulfillment Center in Tracy, California, November 29, 2015. REUTERS/Fred Greaves

NEW YORK (Reuters) – U.S. online spending during the holiday shopping season is likely to grow 14.8 percent this year to $124.1 billion, far outpacing the 2.7 percent growth predicted for brick-and-mortar locations and highlighting the ongoing switch from stores to web shopping.

The forecast was released on Thursday by Adobe Analytics, the web analytics arm of Adobe Systems Inc. The company measures transactions from 80 of the top 100 U.S. retailers and trillions of customer visits to U.S. retail sites.

Online sales this year will benefit from an extra day between Cyber Monday to Christmas, which is likely to provide a $284 million sales boost, the report said.

Adobe also forecasts the best days for shopping online based on prices across product categories during previous years. For example, Thanksgiving is likely to be a good day to buy sporting goods as prices could be 13 percent lower than their average in the first 10 months of the year. Black Friday will still be a good option for television purchases as prices could be about 22 percent lower.

Apparel discounts could make items cheaper by 22 percent than average on Nov. 25, and toys are likely to be 19 percent cheaper on Cyber Monday, the report said.

The November and December holiday shopping season are critical for retailers, when they book an outsized portion of their annual sales and profits.

Overall U.S. holiday sales including stores and online in 2018 will increase by 4.3 percent to 4.8 percent from a year ago, when consumer spending surged to a 12-year high, according to The National Retail Federation.

The trade body said holiday sales growth will be higher than an average increase of 3.9 percent over the past five years but slower than last year’s 5.3 percent gain, when consumer spending grew the most since 2005, boosted by tax cuts.

(Reporting by Nandita Bose in New York; Editing by Cynthia Osterman)

Shop ‘til you drop! PTL Shop, the first Faith-Based Home Shopping Network, now has its own network!

PTL Shop, the first Faith Based Television Network!

By Kami Klein

PTL Shop is growing!  Now you can get PTL Shop on its very own network! This network is available on Roku and can be easily added to your channels. Just hit search and type it in.  Now you can watch our inspirational programming on PTL Television Network or enjoy the convenience of shopping in your own home enjoying fantastic deals on the PTL Shop Faith Based Home Shopping Network!   

Wanting to take a break?  Relax and hop online at ptlshop.com or tune in to your Roku on the PTL Shop Channel to see beautiful apparel and jewelry, Christian books and media, wonderful products for health and beauty, decorative and useful products for your home and garden, as well as unique new gizmos and gadgets you will love! PTLShop.com is constantly adding new products for every category!

Christmas is just around the corner and with deals like these, you will have no problem finding the perfect gifts at incredible prices! The bonus is now your shopping experience goes towards spreading the Gospel!

Here’s one of our unique products offered on PTL Shop with our hosts Ricky Bakker and John Woodall.  

 

PTL Shop is YOUR Faith-Based Shopping Network! Add PTL Shop to your Roku today, get settled on your couch and Shop ‘til you Drop!