Black Friday Spending Up 3%

Consumers defy pundits' predictions

November 30, 2008

• Wal-Mart Fined $7,000 for "Black Friday" Employee Death • Online Holiday Sales Dip • Christmas Sales Forecast Gets More Grim • Black Friday Victim's Family Sues Wal-Mart • Giving Without Shopping: Make It a Priceless Holiday • Cyber Monday Spending Jumps 15 Percent • More Evidence Consumers Plan to Reduce Holiday Spending • Retailers' "Desperation" to Mark Black Friday • 'Tis The Season For Stress & Depression • CPSC Offers Toy Safety Tips for Holiday Shopping • Consumers Playing Rebate Roulette This Holiday Season • Beware of Zero Percent Financing • Survey Finds Consumers Wary about Holiday Returns • NYC Fines Retailers for Return & Restocking Fee Violations • Retailers Urged to Curb Violent Video Games • Smart, Careful Shopping Will Help Keep the Season Bright • Video Game Industry Gets a D+ • Negative Option Scams May Snag Online Holiday Shoppers • Retailers' Return Policies Getting Tougher • Safety, Shopping, Charitable Giving Tips • Consumer Reports Holiday Guide • The Gift That Keeps On Taking • Best of All: Giving Without Shopping

Despite forecasts that economic fears would prompt consumers to sit on their wallets this holiday season, "Black Friday" sales at the nation's retailers rose three percent over 2007, according to ShopperTrak, a provider of retail information.

The company's Retail Traffic Index estimates cash registers nationwide rang up $10.6 billion in sales Friday.

ShopperTrak warns that Black Friday isn't always the best indicator for holiday season, but notes consumers surprised the more pessimistic analysts by crowding discount stores in search of bargains.

"Retailers truly experienced what we've dubbed the 'perfect storm' over the last few weeks, with the financial markets melting down, the presidential election which typically slows retail traffic and relatively high gasoline prices – all of which slowed both retail traffic and spending," said Bill Martin, co-founder of ShopperTrak.

"Under these circumstances, to start off the season in this fashion is truly amazing and is a testament to the resiliency of the American consumer, and undeniably proves a willingness to spend."

Retail traffic was heavy throughout the country as shoppers responded to early openings and numerous door buster specials and sales promotions. Regionally, the South led the way with a 3.4 percent rise over 2007, with the Midwest, West and Northeast closely following.

"While this is an encouraging start for retailers, there's no guarantee these deep discounts will continue after Black Friday weekend, which could slow spending," said Martin. "Additionally, consumers have just 27 days to shop this year as opposed to 32 in 2007, which may catch some procrastinating consumers off guard, leading to lower sales levels."

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Share		Follow us on Twitter.

Back to the top |