Tuesday, November 30, 2010

Black Friday Retail Sales Edge Up Only Slightly

Last week was Black Friday and according to new reports, Americans spent slightly more than last year. Retail spending for the day after Thanksgiving rose 0.3% to $10.69 billion, up from last year's $10.66 billion.

Yahoo news reports:

    Two factors behind the slim increase, a disappointment following bullish reports from stores Friday, were heavy discounts earlier in November and online shopping, which saw a big increase.

    Chicago research firm Shoppertrak, which tallies sales in more than 70,000 retail outlets across the country, said the total was still a record for the day. It stood behind its prediction for spending to rise 3.2 percent for the season.

    "It's hard to say Black Friday wasn't a success, it's just not the success we saw in the mid-2000s, when the day really became a phenomenon," ShopperTrak founder Bill Martin said.

Read more here

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