Thinknum Alternative Data
Request Demo
Thinknum Login
Questions answered using Thinknum

Fundamental Investors

How many cars has Carmax sold this week compared to the same week last year?

How is foot traffic at Chipotle changing YoY?

What are the industrial companies that are growing and hiring the most?

Quantitative Analysts

How are the number of Twitter followers a leading indicator for company performance?

How are the number of LinkedIn employees a leading indicator for company performance?

Business Inteligence

Which private companies are getting their products picked up by major retailers?

Which private healthcare companies are hiring the most?

Which tech startups are getting the largest increase in mobile app downloads?

Join the investment community and start your week with market insights seen through the lens of alternative web data.

Saks Fifth Avenue holiday foot-traffic boost is declining every year

1 week ago by Joshua Fruhlinger in Consumer, Retail

If there is one thing that retailer and New York holiday mainstay Saks Fifth Avenue ($TSX:HBC) could always count on, it's an annual boost of foot traffic as locals and tourists alike flock to 5th Avenue to gawk at the window displays and do some holiday shopping.

But the holiday boost for Saks' brick-and-mortar stores appears to be decreasing every year as more consumers turn to e-commerce, alternative retailers, and fast fashion.

For every holiday season since 2016, "Were Here" count, as measured by the number of selfies, check-ins, and status updates recorded by Facebook, the holiday boost has declined.

In 2016, Were Here counts jumped from 374,000 to 421,000 between November 1 and December 31, a gain of 47,000 updates, selfies, and mentions from Saks locations. In 2017, Were Here's moved from 468,000 to 505,000 for a gain of 37,000, a decline of 10,000 year-over-year. Then in 2018, the holiday season only moved Saks' Were Here count from 534,000 to 555,000 for a gain of 21,000, a decline of another 16,000 year-over-year.

The decline in holiday boost doesn't necessarily reflect declining holiday sales for Saks. As CNBC's Lauren Thomas reported last year, 2018 was the best holiday shopping season for retail in 6 years. However, she reported, online sales were up 19.1%, accounting for a larger share than ever.

But Saks' latest owner Hudson Bay is looking to shed some retail overhead — most notable Saks Fifth Avenue itself, which it is selling to WeWork Property Advisors. Saks agreed to a deal to sell to Hudson Bay this fall.

Perhaps some digital savvy will be good for the brand as it looks to survive the retail apocalypse.

About the Data: 

Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales. 

Further Reading: 

Join the businesses who have begun to edge out competitors by scouring the web for alternative data.

Request demo
Ready for a personalized tour?

Joshua Fruhlinger

Joshua has been writing about technology, lifestyle, and business for over 20 years. He's one of the original writers and editors for Engadget, and still writes a...

Request a demo

We would love to show you how Thinknum will benefit your investment process. To get started, fill out the form and we'll contact you shortly to schedule your demo.

Get Thinknum Media in your inbox

Start the day off with our Weekly Digest.