Excerpt from Benzinga quoting DataTrek’s Nick Colas:
…. “On Tuesday, DataTrek Research co-founder Nicholas Colas said Google Trends search data suggests clear retail winners and losers this Black Friday.
Traditional American department stores are likely taking a hit this year, Colas said. Google Trends indicates search volume for Macy’s and Nordstrom was down significantly from Nov. 24 to Nov. 30 compared to a year ago.
At the same time, online retailers Wayfair and Etsy have seen 2020 search volume surpass 2019 levels during that stretch.
Colas said search volume for electronics retailers Best Buy and GameStop surpassed 2019 levels due to searches related to the new gaming consoles from Microsoft Corporation and Sony Corp. However, search volumes are still down compared to 2017, when the Xbox One X was launched.
“Online-only retail brands look like secular winners over e-commerce grafted on a traditional store model, even when brick and mortar locations are open for business,” Colas said”….
Read the full article here on Benzinga!