Stock Track | Kohl's Stock Soars 5% Amid Efforts to Boost In-Store Traffic on Black Friday

Stock Track11-22

Shares of Kohl's Corporation (KSS) rallied 5% in the pre-market trading session on Friday, driven by the retailer's efforts to entice customers to visit its physical stores during the crucial Black Friday shopping period.

As retailers aim to capitalize on the post-Thanksgiving shopping frenzy, Kohl's is offering exclusive in-store promotions and giveaways to boost foot traffic. According to the report, Kohl's will hold a sweepstakes with prizes including a Florida vacation, leveraging such incentives to lure customers to its brick-and-mortar locations.

Retailers prefer in-store purchases due to higher profit margins and lower return rates compared to online transactions. With consumers expected to spend a record $75 billion from Black Friday through Cyber Monday, retailers are eager to engage shoppers in their physical stores, where they can leverage upselling strategies and encourage impulse purchases.

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