Tuesday, December 1, 2015

Black Friday Sales Drop $1.4 Billion Due To Boycotts and Protesters

In spite of the amount of viral videos floating around the internet displaying shoppers going wild and crazy to get their hands on discounted items in stores, Black Friday sales decreased more than $1.4 billion compared to last years sales.

According to ShopperTrak, the leading global provider of consumer behavior analytics, this year's sales dropped from an estimated $11.6 billion in 2014 to an estimated $10.2 billion. 

Though, it hasn't been speculated how much of a decrease in sales can be attributed to store sales days earlier and online sales, it is clear that online sales would still reflect supply and demand prices on the stock market. 

More than 80% of the stocks in the S&P retail index .SPXRT were down as shares for retailers dropped all around the board; even for retailers who have an online shopping cart. Share prices of Macy's Inc (M.N) dropped 2.7% at $38.90 by Cyber Monday afternoon. Nordstrom Inc (JWN.N) shares fell 2.2% at $56.33, Kohl's Corp (KSS.N) stock fell 3% at $46.64 and Wal-Mart Stores Inc (WMT.N) shares fell 1.4% at $59.04. Even online shopping giant Amazon.com Inc (AMZN.O) fell 0.4% at $670.38. 

The drop in sales can distinguishably be contributed in part to nationwide boycotts and protests. 

In Chicago, protesters in large groups demonstrated on the city’s Magnificent Mile; one of Chicago's most largest consumer areas, disrupting Black Friday sales after video footage was released of the unjustifiable shooting of teenage Laquan Mcdonald by Officer Jason Van Dyke. Protesters crowded the streets and sidewalks blocking store doors. Though, it was a peaceful protest many stores decided to close for hours, missing out on customers and many shoppers were deterred. This caused an overall 25% to 50% decrease in sales throughout the area.
Protesters rally on Chicago's State Street shopping district Friday, Nov. 27, 2015, to protest the killing of Laquan McDonald by a Chicago police officer.

Aldo shoe store was budgeted to make $37,000 but, only did $19,000; a sales associate told Tribune reporters. Men's Wearhouse sales were down from $19,000 last year to less than $10,000 this year. Stuart Weitzman shoe store, sales were some $20,000 short of the $50,000 managers had projected. 




In San Diego, Black Lives Matter protesters leaving the Hall of Justice and heading for the Gaslamp District and Westfield Horton Plaza mall took to the streets of downtown among Black Friday shopper's. Marching and chanting ‘Black Lives Matter not Black Friday.


More than 100 people took part in a "Black Lives Matter" protest in downtown San Diego Friday.


In South Carolina members of a group called Freedom Fighters of the Upstate disrupted the Black Friday cheer of downtown shoppers in Greenville to protest against police brutality. Holding a banner with 31 photo's of victims killed by officers. 


Freedom Fighters organized by Traci Fant protest in downtown Greenville, SC

"Blackout Black Friday" has took the nation by storm and the movement is speculated to infect the entire holiday season. With Christmas right around corner, 2015 will be a year dreaded by retailers and lawmakers alike, but a battle won by protesters who only want justice and equality. Justice is a human right; and if it's not granted to all of humanity, the judicial system is a hypocrisy.