Black Friday winners and losers, including Apple and Target

Black Friday may be synonymous with online shopping, but this year, brick-and-mortar stores had their moment in the spotlight, too.

Major players, including Apple Stores (AAPL+0.55%), HomeGoods (TJX-0.86%), Target (TGT-0.66%), and Marshalls saw massive in-store traffic, according the latest data from foot traffics analytics firm Placer.ai.

“Black Friday is no longer just about buying products, it’s about the experience,” said Ethan Chernofsky, senior vice president of marketing of Placer.ai. “This shift has made shopping centers, including movie theaters and coffee shops, key beneficiaries of the holiday rush.”

While Black Friday has evolved, the in-person shopping experience is far from obsolete. Retailers must still find ways to engage customers in stores to stay competitive.

Retailers that saw the biggest year-over-year gains include Apple (31.1% increase), HomeGoods (17.4%), Target (16.8%), and Marshalls (11.1%). Meanwhile, traditional electronics stores saw the largest decline in foot traffic, down 16.5% from last year – reflecting how online shopping continues to dominate in certain categories.

One key trend this year? Malls are making a comeback. Indoor malls saw an 8.2% increase in foot traffic when compared to 2023, with outlet malls and open-air shopping centers also reporting growth, Placer.ai noted.

Despite the continued dominance of e-commerce, supercharged by giants like Amazon (AMZN+0.27%) and Temu (PDD+0.40%), Black Friday is not a relic of the past. Physical stores still play a major role in the shopping experience, even if the ways people shop have shifted, Chernofsky notes, adding that retailers who embrace both online and offline strategies are the ones seeing the most success.

For many, online shopping can be overwhelming, with endless options and constant scrolling. For retailers like HomeGoods and Marshalls, in-store shopping offers a more curated, hands-on experience. While Target has faced challenges recently, its strong Black Friday performance highlights the power of the in-store experience. Despite its struggles, this surge in foot traffic suggests Target’s mix of accessible pricing and physical stores continues to resonate with customers.

With Cyber Monday underway, it remains to be seen whether the online shopping can maintain its dominance over Black Friday.