November 08, 2018

Hawaii retailers saw 179% increase in sales during last year’s Black Friday (Pacific Business News) »

Black Friday was biggest revenue generating day for Hawaii retailers last year, with businesses seeing a 179 percent increase in sales compared to the average day, according to a report by Womply.

The technology company, which analyzed 2017 figures, ranked Hawaii in fourth place nationally for percentage increase in sales for the day following Thanksgiving.

The holiday shopping season allows retailers to capitalize three key days at the end of the year: Black Friday, Small Business Saturday and Cyber Monday.

While the Aloha State was below the national average when it came to the average revenue generated during Small Business Saturday and Cyber Monday, Hawaii beat the national average when it came to revenue generated on Black Friday.

According to the study, the average revenue generated by Hawaii retailers on the annual shopping event was $3,658, 18.4 percent higher than the national average of $3,087.

Figures for Small Business Saturday and Cyber Monday were not as favorable for Hawaii, with the state averaging $1,704 and $1,255, respectively.

Hawaii’s revenue during those two days were 14.8 percent and 41.7 percent below the national average.

Hawaii retailers, however, experienced a longer holiday sales bump than retailers in any other state, according to the report.

Toward the end of December and early January, Hawaii retailers averaged $1,700 and $1,500, respectively, in daily revenue, compared to the national average of $1,400 and $1,250.

“It’s likely this is due to the regular influx of tourists during the holiday season who support the local economy from November through the end of the year,” the report said.

Click here to read the rest of this article from Pacific Business News

Tags: , ,