Holiday shopping ended disappointingly for specialty stores in 2011, during which a slow Black Friday weekend set a pace that held up until Christmas, according to retail business intelligence provider RetailNext. Even some encouraging post-Christmas spikes failed to make up the gap compared to last year’s holiday season, the company reports in its RetailNext Insights: Holiday Shopping 2011 analysis.

In its RetailNext Insights, the company analyzes more than 40 U.S. retail store chains’ performance, examining the in-store behaviors of more than 20 million shoppers between Thanksgiving weekend and December 31st. The company’s analysis shows that a significant drop in traffic compared to last year was the primary contributor to slow sales in physical stores, despite the fact that many retailers increased conversion among those who did come to their stores.

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