Now that Labor Day Weekend has concluded, Minneapolis-based bank and financial services company Piper Sandler…
Minneapolis-based investment bank and financial services firm Piper Sandler released its initial report for Black Friday weekend sales, succeeding its October survey, which reported that mattress sales were down by 11% (mean) and 8% (median).
The company reports that its preliminary mattress and furniture industry checks for Black Friday weekend suggest mattress sales were flattish year over year. From retailers, Piper Sandler “heard that Black Friday was the strongest day of the weekend, while Saturday and Sunday were soft or negative.” According to the firm, several retailers also commented on some pull-forward (or better sales performance) for the Monday, Tuesday and Wednesday before Thanksgiving.
The report also indicated strength at high-end and low-end price points but noted that with overall tickets flat, “suggests weakness at the middle tier.”Piper Sandler also states that “brick and mortar retailers with a strong omnichannel presence generally outperformed.”
In terms of advertising, Piper Sandler notes that “advertising and promos were quoted as rational over the holiday weekend” and says that retailers and brands that utilized both digital and television ad spend did well. For example, Sealy-owned, Lexington, Kentucky-based brand Stearns & Foster “was a notable positive standout.”
Piper Sandler will release a more comprehensive look at Black Friday weekend and November sales in general in its November survey, coming soon.
