Blog: Black Friday generates rosy sales
Leonie Barrie | 26 November 2007
After the turkey and pumpkin pie was finished, it seems US consumers focused their attention on a feast of a different sort: holiday shopping. As retailers rushed to put the final touches on their stores before pre-dawn openings, consumers left their houses early to stand in line and be the first to welcome in the official start of the holiday shopping season.
With some stores opening at midnight, and others bringing forward their opening times to 4am or 5am, the thought of a bargain was obviously enough to dispel fears of a slumping economy and rising fuel bills. But even though there was a 4.8% increase in the number of shoppers, they spent an average of 3.5% less than last year, prompting questions about trends for the period overall.
One commentator suggests that Black Friday, as the first day of the holiday season is known, is a good gauge of consumer sentiment. But with the Thanksgiving weekend representing just 10% of total holiday shopping volume, there’s a lot of work still to do to ensure the remaining 90% lives up to expectations.
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