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Black Friday shopping at brick-and-mortar stores dropped by 6% as consumers spent record online

Black Friday shopping at brick-and-mortar stores dropped by 6% as consumers spent record online

Finance
Black Friday shoppers wait to purchase goods at a Best Buy store on November 29, 2019 in Emeryville, United States. Black Friday is traditionally the biggest shopping event of the year, and marks the beginning of the holiday shopping season.Philip Pacheco | Getty Images News | Getty ImagesBlack Friday brick-and-mortar retail sales fell by 6.2% compared to last year as consumers eschewed in-person shopping for online purchasing, according to preliminary data from ShopperTrak.The pullback corresponds with a jump in Black Friday spending online, which hit $ 7.4 billion, the largest online Black Friday total ever, according to Adobe Analytics."There is no longer one way to shop on Thanksgiving Day and Black Friday," said Brian Field, senior director of global retail consulting for ShopperTrak....
All Mothercare UK stores to close

All Mothercare UK stores to close

Business
Troubled baby goods retailer Mothercare has called in administrators, putting 2,500 UK jobs at risk.There will be a phased closure of all of its 79 UK stores, administrators from PwC said.The UK firm "has been loss-making for a number of years", but international franchises are profitable, PwC said.On Monday the baby goods firm said it was "not capable" of being sufficiently profitable and that it had failed to find a buyer.Joint administrator Zelf Hussain said: "This is a sad moment for a well-known High Street name," adding that Mothercare "has been hit hard by increasing cost pressures and changes in consumer spending.""It's with real regret that we have to implement a phased closure of all UK stores. Our focus will be to help employees and keep the st...
Debit cards show up more at retail stores, less at ATMs

Debit cards show up more at retail stores, less at ATMs

Finance
MUMBAI: Bank customers are increasingly getting comfortable making payments through debit cards on swipe machines at kirana stores and local retail outlets. Latest data from the RBI show that over a third of all debit card transactions were made at point of sale (PoS) terminals in April this year for the first time since demonetisation. With about 80-crore withdrawals worth Rs 2.84 lakh crore in April, ATM transactions made for just over 66% of overall debit card transaction volume. PoS machines registered the rest 34% of the transaction volume in this period. The only other time the ATM transaction share fell below the two-thirds mark was in December 2016 — a month after demonetisation — when it was at 60.3% and PoS transactions at 39.7%, owing to the lack of cash in the system. The trans