Last week, American retailers were vying for customers’ time and dollars during Black Friday sales.
Three retailers’ strategies stood out as the best during post-Thanksgiving sales, according to a note by Goldman Sachs.
Here are their favourites:
- Wal-Mart: The retailer was a leader and “drove the market vis-à-vis store hours and promotions,” according to Goldman Sachs. Wal-Mart staggers promotions to avoid huge stampedes in stores. The day went so well that Goldman Sachs predicts Wal-Mart’s sales results will increase from last year.
- Best Buy: The once-embattled electronics retailer “captured a broader mix of categories and a richer mix of business,” according to Goldman. Best Buy carefully lowered prices to compete with Amazon and offered a price-match guarantee.
- Macy’s: Goldman lauds the department store for its “superior execution” with “the best balance of traffic and promotional intensity on the mall.” Macy’s also got a shout out from analysts at Sterne Agee, who said the retailer did a great job of bringing in millennial shoppers.
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