Americans were back in stores this Friday for the “Black Friday” sale, which traditionally kicks off the year-end shopping season, but many had gotten ahead online for fear of shortages. .
Sylvia Gonzalez, a masked consumer met in the queue of a Pandora jewelry store in New York, for example wanted “to be sure that this Christmas is a successful Christmas” for all her friends and family, she said. to AFP. This determination to spend holidays like before the health crisis prompted early shopping, even before the Thanksgiving family dinner, which took place on Thursday.
American consumers have already spent $ 76 billion at online retailers since the beginning of November, more than 20% more than last year at the same time, according to data released Friday by the computer company Adobe. Unsurprisingly, toys were particularly popular with “anxious parents, increasingly aware of the difficulties in the supply chain”.
And justly, stockouts jumped: the number of out-of-print articles online was up 261% from two years ago. This problem, due in particular to delays in the manufacture and export of electronic chips, was visible in some stores. At Best Buy in Manhattan, an accessory shelf for Apple devices was nearly empty. Other chains like Victoria’s Secret or Foot Locker lacked some flagship products.
“In person”
Adobe expert Taylor Schreiner expects more consumers to order online and pay for express delivery or collect their items in person. “It’s not just because people want it to happen quickly. They want to have it in their own hands, to make sure they have the gift for the person,” she told AFP .
To save their year-end season from stockouts, retailers had taken extraordinary measures, such as importing and stocking items earlier than usual, ordering air freight shipments and, in some cases chartering their own vessels.
With mixed results however: if the chains of big surfaces like Walmart and Target are doing there with well-supplied inventories, others like Gap and Nordstrom, have already reported lost sales because of not being able to obtain all the desired products on time. Gap thus plans to keep the late items for next year, rather than having to clear them, explained the financial director of the sign, Katrina O’Connell, during a conference call with analysts on Wall Street this week. .
“Consumers looking to shop earlier, (…) shortages could develop in the last weeks of the holiday shopping” season, warned Jack Kleinhenz, chief economist of the NRF . He nevertheless expects “an excellent season” if store shelves remain well stocked.
New York in “small town” mode
In total, Americans could indeed spend 10.5% more this holiday season than last year, both in stores and on the Internet, according to the American Federation of Retailers (National Retail Federation), which expects a total of 859 billion dollars.
US household finances are supported in particular by government aid, with tax credits for families. A welcome boost as prices keep climbing. Inflation, a “priority” for US President Joe Biden, is at its highest for 31 years. Energy prices alone soared 30.2% in October from October 2020, according to the Commerce Department’s PCE index. Food prices have also taken off. This is weighing on consumer sentiment, which plummeted in November, according to the University of Michigan, which released the preliminary results of its monthly survey on Wednesday.
And another threat is now added: that of a new Omicron variant of Covid-19, detected in South Africa and deemed “worrying” by the WHO, which could derail the global economic recovery. The return to a “normal” situation therefore remains elusive. At Macy’s, posters reminded customers to keep their distance and Covid test sites were set up outside. “In 2018, this was the New York we have all heard about,” remarked Ilke Zienteck, a German tourist. “Now it looks a bit like a small town.”
Sylvia Gonzalez, a masked consumer met in the queue of a Pandora jewelry store in New York, for example wanted “to be sure that this Christmas is a successful Christmas” for all her friends and family, she said. to AFP. This determination to spend the holidays the same as before the health crisis has prompted early shopping, even before the Thanksgiving family dinner, which took place on Thursday. U.S. consumers have already spent $ 76 billion at online retailers since the start of the November, more than 20% more than last year at the same time, according to data released Friday by the computer company Adobe. Unsurprisingly, toys were particularly popular with “anxious parents, increasingly aware of the difficulties in the supply chain.” line was up 261% from two years ago. This problem, due in particular to delays in the manufacture and export of electronic chips, was visible in some stores. At Best Buy in Manhattan, an accessory shelf for Apple devices was nearly empty. Other chains like Victoria’s Secret or Foot Locker were lacking some flagship products. Adobe expert Taylor Schreiner expects more consumers to order online and pay for express delivery or pick up their items in person . “It’s not just because people want it to happen quickly. They want to have them in their own hands, to make sure they have the gift for the person,” she told AFP To save their year-end season from stockouts, retailers had taken extraordinary measures, such as importing and stocking items earlier than usual, ordering air freight shipments and, in some cases chartering their own vessels. With mixed results however: while big box chains like Walmart and Target are doing well with well-stocked inventories, others like Gap and Nordstrom have already reported lost sales for not having been able to obtain all the desired products on time. Gap thus plans to keep the late items for next year, rather than having to clear them, explained the financial director of the sign, Katrina O’Connell, during a conference call with analysts on Wall Street this week. “Consumers looking to shop earlier, (…) shortages could develop in the last weeks of the holiday shopping” season, warned Jack Kleinhenz, chief economist of the NRF. However, he expects “an excellent season” if store shelves remain well stocked. In total, Americans could spend 10.5% more this holiday season than last year, both in stores. than on the Internet, according to the American Federation of Retailers (National Retail Federation), which expects a total of 859 billion dollars. The finances of American households are supported in particular by government aid, with tax credits for families. A welcome boost as prices keep climbing. Inflation, a “priority” for US President Joe Biden, is at its highest for 31 years. Energy prices alone soared 30.2% in October from October 2020, according to the Commerce Department’s PCE index. Food prices have also taken off. This is weighing on consumer sentiment, which plummeted in November, according to the University of Michigan, which released preliminary results of its monthly survey on Wednesday, and another threat has now been added: that of a new Omicron variant. of Covid-19, detected in South Africa and deemed “worrying” by the WHO, which could derail the global economic recovery. The return to a “normal” situation therefore remains elusive. At Macy’s, posters reminded customers to keep their distance and Covid test sites were set up outside. “In 2018, this was the New York we have all heard about,” remarked Ilke Zienteck, a German tourist. “Now it looks a bit like a small town.”
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