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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBlack Friday Fizzles With Consumers as Sales Tumble 11%
(Bloomberg) Even after doling out discounts on electronics and clothes, retailers struggled to entice shoppers to Black Friday sales events, putting pressure on the industry as it heads into the final weeks of the holiday season.
Spending tumbled an estimated 11 percent over the weekend from a year earlier, the Washington-based National Retail Federation said yesterday. And more than 6 million shoppers who had been expected to hit stores never showed up.
Consumers were unmoved by retailers aggressive discounts and longer Thanksgiving hours, raising concern that signs of recovery in recent months wont endure. The NRF had predicted a 4.1 percent sales gain for November and December -- the best performance since 2011. Still, the trade group cast the latest numbers in a positive light, saying it showed shoppers were confident enough to skip the initial rush for discounts.
The holiday season and the weekend are a marathon, not a sprint, NRF Chief Executive Officer Matthew Shay said on a conference call. This is going to continue to be a very competitive season. ..................(more)
The complete piece is at: http://www.bloomberg.com/news/2014-11-30/u-s-consumers-reduce-spending-by-11-over-thanksgiving-weekend.html
nc4bo
(17,651 posts)Get it yet?
redstatebluegirl
(12,264 posts)when you kill the middle class, put all of the wealth and hope with the one percent at the top, the economy dies. We don't have the money to spend that we used to. We have cut Christmas spending down to a third of what it once was. We are driving a 12 year old car and praying it stays in one piece while ignoring the squeaking of the brakes telling us we will have another big expense coming soon.
20 years ago we would have been upper middle class professionals, buying a car every 3 years, being able to fix our home when it needs it, giving a great Christmas to our family. Instead we are just getting by, putting off cars, day to day things including new glasses until we can't wait any longer. We see our neighbors losing their homes and cars.
If the economy is good, or getting that way, it hasn't trickled on us yet, I doubt it ever will.
Orrex
(63,084 posts)We can expect to hear several months of blame heaped upon the middle class for failing to dump thousands per capita into the economy, along with doom-and-gloom predictions about the economy resulting from that failure.
Hell, even in years when the middle class spends like crazy, we still hear about how retailers need more, a big increase over last year, in order to remain solvent. Otherwise hiring will slow and production will falter, blah blah blah.
The lesson is clear: the middle class didn't spend enough, and even when we spend enough, we should have spent more.
redstatebluegirl
(12,264 posts)Fred Sanders
(23,946 posts)Arugula Latte
(50,566 posts)Of course there couldn't be aaaaany connection with the shit wages most people are getting. No sirree. Move along. Nothing to see there ...
redstatebluegirl
(12,264 posts)Mr Dixon
(1,185 posts)well said going to post this on FB if you don't mind.
redstatebluegirl
(12,264 posts)deutsey
(20,166 posts)redstatebluegirl
(12,264 posts)Fred Sanders
(23,946 posts)uponit7771
(90,225 posts)Arkana
(24,347 posts)is a bad fucking idea.
If you shop, why not shop online? No lines, no jerks, and no risk of bodily injury.
JCMach1
(27,544 posts)more people chose travel over shopping this year...
titaniumsalute
(4,742 posts)I think people are sick and tired of this bullshit Black Friday (and now Turkey Thursday) crap. Who really wants to endear that rat race? We buy almost all of our gifts online as my wife and I have no time to battle malls or other stores.