Grocery coupons being doled out by Walmart during holiday seasons. Meanwhile 2010 snowstorm affects post-Christmas shopping, retailers lost $1 billion
2010 blizzard that lashed on the day after Christmas significantly affected post-Christmas sales of retailers across the country. Severe snowstorm in Northeast regions of the country on Sunday is analyzed to have dwindled post-Christmas shopping figures, surveys of ShopperTrak, NPD Group and other agencies revealed.
The day after Christmas, called the Boxing Day is famous for shoppers’ massive return to retail stores after holiday shopping once to spend gift cards or to replace items they already purchased. Customers also take it as an opportunity to buy products, which are leftovers with retailers after their holiday sales.
But huge snowstorm, which blanketed several Northeastern states and cities including New York City, Boston and Philadelphia in 20 to 30 inches of snow, forced people to stay in. Of course, retailers, who expected large business for the day, which was supposed to be one of the year’s five busiest shopping days, were disappointed.
According to ShopperTrak’s data, retailers missed $1 billion due to 2010 blizzard. Shoppers, who were supposed to spend $1 billion for post-Christmas purchases, could not come out due to heaped-up snow and chilly weather.
“The 2010 blizzard throughout the Northeast halted nearly all retail visits and spending during a period that is fairly crucial for retailers,” said Bill Martin, ShopperTrak’s founder.
The agency tracked 13.9 percent lower traffic into retail stores from expected average. Northeastern areas recorded further low in shoppers’ traffic. “And at this point the prospect of momentarily pausing a potential $1 billion in sales has the collective industry holding its breath,” Martin said.