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marmar

(76,982 posts)
Mon Dec 1, 2014, 10:30 AM Dec 2014

Black 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 won’t 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



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Black Friday Fizzles With Consumers as Sales Tumble 11% (Original Post) marmar Dec 2014 OP
Can't get blood out of a turnip no matter how hard you try 1% ers. nc4bo Dec 2014 #1
Maybe these big corporations will begin to understand redstatebluegirl Dec 2014 #2
Maybe, but... Orrex Dec 2014 #3
Well said... redstatebluegirl Dec 2014 #4
It is never enough for capitalists. I am convinced capitalism and pessimism are siblings. Fred Sanders Dec 2014 #6
We don't spend enough, and also we don't save enough. Arugula Latte Dec 2014 #13
It is for us, we used to save, but find it hard to now with everything going up except our salaries. redstatebluegirl Dec 2014 #15
Agreed Mr Dixon Dec 2014 #9
Thanks, post away! redstatebluegirl Dec 2014 #18
Sounds like we're in the same boat, struggling more and more to keep it from sinking deutsey Dec 2014 #14
The hole in mine keeps getting bigger....can't bail fast enough. redstatebluegirl Dec 2014 #19
Corporate profiteers are mighty concerned folks will start saving money instead of buying their crap Fred Sanders Dec 2014 #5
There also was a No Just No Profit movement... I wonder if this was part of the drop? uponit7771 Dec 2014 #7
People are finally realizing that going out on Black Friday Arkana Dec 2014 #8
Sales for my business were way off from the same weekend last year... I think because of gas prices JCMach1 Dec 2014 #10
While I do believe consumers are in better shape than a year ago titaniumsalute Dec 2014 #11
Media not acknowledging any of the protest movements as a factor? nt daredtowork Dec 2014 #12
Duh! They were all working... Not shopping. Hugin Dec 2014 #16
Aw, and all those Wal-Mart shoppers shot for nothing... Aristus Dec 2014 #17

redstatebluegirl

(12,264 posts)
2. Maybe these big corporations will begin to understand
Mon Dec 1, 2014, 10:42 AM
Dec 2014

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)
3. Maybe, but...
Mon Dec 1, 2014, 11:10 AM
Dec 2014

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.

 

Arugula Latte

(50,566 posts)
13. We don't spend enough, and also we don't save enough.
Mon Dec 1, 2014, 12:14 PM
Dec 2014

Of course there couldn't be aaaaany connection with the shit wages most people are getting. No sirree. Move along. Nothing to see there ...

Arkana

(24,347 posts)
8. People are finally realizing that going out on Black Friday
Mon Dec 1, 2014, 11:35 AM
Dec 2014

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)
10. Sales for my business were way off from the same weekend last year... I think because of gas prices
Mon Dec 1, 2014, 12:07 PM
Dec 2014

more people chose travel over shopping this year...

titaniumsalute

(4,742 posts)
11. While I do believe consumers are in better shape than a year ago
Mon Dec 1, 2014, 12:12 PM
Dec 2014

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.

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