Online sales fall when a physical store closes: Study

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November's better-than-expected retail sales underscored resilient consumer demand, though department stores struggled, seeing a 2.5% drop in activity. ICSC CEO Tom McGee joined Yahoo Finance's Rachelle Akuffo to discuss the ""halo effect"" brick-and-mortar stores can have on e-commerce. McGee highlights data showing that opening a physical store can lift a retailer's digital sales by nearly 7%. However, shuttering physical locations can cause online sales in the trade area surrounding that location to fall 11.5% on average. While younger consumers have technology ""integrated into their life,"" McGee notes their preference trends align very closely with baby boomers when it comes to enjoying the in-store experience. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance #onlineshopping #shopping #yahoofinance

Published 2023-12-17 · Watch on YouTube ↗
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