This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Black Friday Retail Winners: The Early Birds

NEW YORK ( TheStreet) -- Black Friday midnight openings generated a retail frenzy, setting precedent and already setting the tone for the holiday winners.

Those retailers that opened at midnight or earlier on Black Friday, like Wal-Mart (WMT - Get Report), Target (TGT - Get Report), Macy's (M - Get Report), Kohl's (KSS - Get Report) and Best Buy (BBY - Get Report) saw on average a 24% boost in their conversion (the number of shoppers that actually made a purchase), according to the NPD Group, a consumer research firm.

"When compared to some stores that kept their traditional early Black Friday morning openings, it appears that some may have lost as much as 8% in their conversion rates," said Marshal Cohen, chief industry analyst with The NPD Group. "I would say that means we will have to be on the look-out for a New Tradition ... and that is more and more stores will be opening on Thanksgiving night next year."

But while these early door busters drove consumers into stores, they failed to keep the momentum building throughout the holiday weekend, NPD noted.

"Black Friday may have come in with a roar, but is going out with a whimper," Cohen said. "While record numbers took advantage of the door-buster deals and the early hour deals, it appears that is where most of the action was."

"We believe consumers have begun to catch onto retailers who posted early bird promotions and then extended them into the evening on Black Friday and came to the mall later to enjoy the same great deals as those who came out earlier," analyst Jennifer Black of the firm bearing her name wrote in a note. "We felt that last year's early morning Black Friday was more successful as a result of more consumers catching on this year."

Overall, 226 million shoppers visited stores and Web sites over Black Friday weekend, up from 212 million last year, according to a survey conducted by the National Retail Federation. The average holiday shopper spent $398.62 compared with $365.34 in 2010, with the NRF estimating total spending hit $52.4 billion.

But it was online that was the biggest winner, with online retail sales jumping 26% to $816 million, according to comScore. This made Black Friday the heaviest spending day on the Internet so far in 2011.

-- Reported by Jeanine Poggi in New York.

Readers Also Like:

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
BBY $32.08 -1.70%
M $39.60 -2.50%
KSS $44.29 -2.70%
TGT $79.45 -2.30%
WMT $66.87 -3.00%


Chart of I:DJI
DOW 17,776.11 -54.65 -0.31%
S&P 500 2,068.80 -7.01 -0.34%
NASDAQ 4,779.82 -25.4710 -0.53%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs