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Black Friday sales up 7 pct; retailers look ahead

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OmahaBlueDog Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Nov-26-11 11:52 PM
Original message
Black Friday sales up 7 pct; retailers look ahead
Source: AP/Yahoo

The holiday shopping season got off to a strong start on Black Friday, with retail sales up 7 percent over last year, according to the most recent survey. Now stores just have to keep buyers coming back without the promise of door-buster savings.

Buyers spent $11.4 billion at retail stores and malls, up nearly $1 billion from last year, according to a Saturday report from ShopperTrak. It was the largest amount ever spent on the day that marks the beginning of the holiday shopping season, and the biggest year-over-year increase since 2007. Chicago-based ShopperTrak gathers data from 25,000 outlets across the U.S., including individual stores and shopping centers.

The Mall of America in Bloomington, Minn. broke its Black Friday record for shoppers, thanks to a decision to open at midnight for the first time. Around 210,000 visitors came to the mall on Friday, up from 200,000 last year, according to mall spokeswoman Bridget Jewell.

Online shopping was strong as well, with a 24.3 percent increase in online spending on Black Friday, according to IBM, which tracks sales at 500 online retailers.


Read more: http://news.yahoo.com/black-friday-sales-7-pct-retailer...
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alp227 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:03 AM
Response to Original message
1. at the cost of human lives and dignity though!
At two Wal-marts in California there were violent incidents (the pepper spraying and the armed robbery).

Then the police tased a grandfather at some other store. Then a man dies of a heart attack at a Target and no one tries to rescue him. This country...UGH I can't wait till I graduate from college and have the chance to dash.
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OmahaBlueDog Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 10:32 AM
Response to Reply #1
8. The same things happen at soccer (futbol) games in Europe and South America
People just don't do well in large, excited groups.
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Arctic Dave Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:09 AM
Response to Original message
2. I am happy to say all I bought on Black Friday was a coffee and Acai Bowl before heading to work.
Everyone else can suck eggs.
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_eh Donating Member (161 posts) Send PM | Profile | Ignore Sun Nov-27-11 02:15 PM
Response to Reply #2
27. But doesn't such action hurt Obama's re-election chances?
I should think increased retail sales would be a good thing for your economy. Am I incorrect on this?
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Arctic Dave Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 09:21 PM
Response to Reply #27
28. Not concerned how it affect Obama's re-election.
Retail sales mean little when the majority of the products being sold are made in other countries.
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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:44 AM
Response to Original message
3. Black Friday was big because people are WORRIED...
Black Friday was a huge deal--because so many people are unemployed, or taking paycuts or
recovering from a job loss--or just plain SCARED about the economy. They were desperate
for deals and they were going to get things cheap--or not at all!

I hope the media doesn't use the heavy Black Friday traffic to suggest that consumer
confidence is up, or that the economy is now healthy.

If anything, the frenzy that happened on Black Friday--was due to desperation. Desperation
on the part of shoppers who don't want to spend as much money--but also on the part of
retailers who are hurting and desperately needing those sales.

We have several malls here in Des Moines, but the biggest, most upscale mall (Jordan Creek)
broke records for Black Friday, as well. 85,000 people went shopping between the hours
of midnight - 6 a.m. at that mall alone, on Black Friday. That's nuts!!

One thing I noticed is that stores had awesome deals and giveaways--and most of them also
handed you coupon to use upon return visits. Clearly--they want you back in the stores
and not just shopping on Black Friday--where their profit margins weren't as high because of
the rock-bottom prices.
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eridani Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 02:13 AM
Response to Reply #3
4. They need to get better informed. There will be even better deals--
--after the first of the year.
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durablend Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 07:18 AM
Response to Reply #3
5. Same story every year
I remember many years where they were using BF as a "barometer" for the season but were sorely disappointed in the end.
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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 10:30 PM
Response to Reply #5
29. Yes, I remember that as well...
Black Friday did better than expected, and retailers took that as a sign that
people would be spending more. They didn't. People were looking for bargains
and sales were flat after Black Friday?
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zanana1 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 10:40 AM
Response to Reply #3
9. Are you worried that it will make Obama look good? nt
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CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 10:31 PM
Response to Reply #9
30. WTF?
Edited on Sun Nov-27-11 10:33 PM by CoffeeCat
What in the world are you talking about?

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OmahaBlueDog Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 10:41 AM
Response to Reply #3
10. I think the past four years have made everyone bargain hunters
Part of the increase may be very simply explained. IIRC, the weather in much of the nation was horrible for last year's Black Friday.

It doesn't surprise me that Jordan Creek was a mob scene. Those with money are spending it.

I see more signs of life in the economy than I did two years ago. I see more commercial construction, and a small amount of home building. Houses here are selling, but at lower prices than they did two years ago. I do see help wanted signs, but mostly in marginal commission sales jobs, and minimum wage retail and quick-service food shops. I see new businesses starting up, which is the best sign. But I still am seeing businesses fail at an alarming rate.
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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 08:54 AM
Response to Original message
6. If most people used credit cards to pay the stats are meaningless
Because next year there will be another record amount of bankruptcies. Lot's of people mistakenly think they can run up their credit cards and then declare bankruptcy. They'll be caught unless they can wait at least 6 months before they declare. The courts look at six months worth of pay stubs, spending record and bank activity. And you can bet your bottom dollar, if you still have one, that they look at your credit history.
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qb Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 10:18 AM
Response to Original message
7. Companies spent megabucks saturating the airwaves with Black Friday ads.
This was bolstered by countless promotions in the "news". This level of spending by companies & consumers can't be sustained.
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Synicus Maximus Donating Member (828 posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Original message
11. Black Friday sales rose 6.6 percent: source
Source: CNBC

Sales rose an estimated 6.6 percent to a record $11.4 billion on Black Friday, typically the busiest shopping day of the year for Americans, while the traffic at stores rose 5.1 percent, according to ShopperTrak.

The day's sales growth was the strongest percentage gain since 2007, when sales rose 8.3 percent on the day after Thanksgiving, said Ed Marcheselli, chief marketing officer at ShopperTrak, which monitors retail traffic.

As usual on Black Friday, retailers used deep discounts on popular items such as toys and televisions to lure shoppers as the holiday shopping season began. Some started sales as early as Thanksgiving night to get a jump on their rivals.

Read more: http://www.cnbc.com/id/45446628
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Angry Dragon Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
12. Now we will see how much is spent between now and Christmas
Are the people only buying the deals??
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hobbit709 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
13. They say this every year, then a couple of days later,
the figures are quietly revised.
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Epiphany4z Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
14. Sales should be up
They started them early enough.
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PSPS Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
15. LOL. "the strongest percentage gain since 2007"
The day's sales growth was the strongest percentage gain since 2007, when sales rose 8.3 percent on the day after Thanksgiving, said Ed Marcheselli, chief marketing officer at ShopperTrak, which monitors retail traffic.

Gee, that magic benchmark of "2007" pops up over and over again. I wonder why.

I suppose CNBC could have pleased their advertisers more if the headline were, "Hurry!!1! Shop now!1@ They're going fast!!111!!!" but that would have been a little too obvious.
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russspeakeasy Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
16. ...and, I am proud to say, not a penny from me...
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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
17. How much of that was paid for with credit cards?
It does matter because many of those people are buying now before they lose their jobs or get foreclosed. The impulse to max out your cards when you know your future is fucked is great, and you think you'll be declaring bankruptcy.

Right now the credit card companies are trying to look good at any cost, probably in spite of their projected losses from defaults in a few months. Soon they will freeze the cards and make it inevitable that card holders can't rely on paying one card bill with another.

Anyone who spends that much at Christmas when the economy is this weak is obviously not confident.

Whatever. A few months will tell.
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
18. When you add 25% more shopping time you had better come up with gains
Next year the stores will have to open even earlier to show gains.

Where do they say, we no longer need to beat last years sales?
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postulater Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
19. I contributed. I can't believe I paid $3 for a plain cup of coffee. nt
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
20. In this economy that will mean
... even fewer shoppers after Black Friday.

Sales will probably tank the rest of the shopping season.

Thats the pattern that has happened before, and no matter how often the MSM tries to say otherwise, the economy isnt good for most of the 99%.
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Response Donating Member (213 posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #20
21. It isn't good for the 99%?? It's booming for me.
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #21
22. Hey, Im on the same air ship!
lol
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Response Donating Member (213 posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #22
24. I'm having to ask friends for a loan just to fill the damn thing

up in order for it to explode.
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madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 12:28 PM
Response to Reply #11
23. i bought a black car on black friday!........
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revolution breeze Donating Member (510 posts) Send PM | Profile | Ignore Sun Nov-27-11 12:38 PM
Response to Original message
25. If vehicle traffic is any indication.....
then we are in trouble here. Daughter did drive around on Thanksgiving night taking video of the crowds at the big box stores, even had some fun in our locally Wally World laughing with her friends who were deputies working details (they thought it was ridiculous that people had "borrowed" chairs and air mattresses from sporting goods to set up in electronics and we discussing how much the store was losing on those products). But by noon Friday, everything was dead. Even yesterday the parking lot at Wally World was half full (which is unusual on any given Saturday). The interstate to the mall is usually backed up at least two miles, but daughter has cruised right through on her way to work every day this weekend. And only two children all weekend had appointments for photos with Santa at her studio.
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krabigirl Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Nov-27-11 01:04 PM
Response to Original message
26. Proud to have bought absolutely nothing that day. Nt
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durablend Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 05:05 AM
Response to Original message
31. You're not getting it, folks
Edited on Mon Nov-28-11 05:16 AM by durablend
Corporate media are harping on it to discredit OWS and the 99% movement. "Things are awesome! Record setting! Look at all the people spending money! Stupid hippies need to stop complaining and get a job so they can join in!"
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sendero Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 05:32 AM
Response to Original message
32. Like last year..
.. and the year before, anyone who thinks this is going to be a great season for retail is going to be really disappointed.

When BF starts at midnight instead of 6:00 AM and retailers are flooding the aisles with loss leaders, yes you will have an uptick. A simple case of pulling demand forward, these gains will come at the expense of the rest of the season.
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DCBob Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 06:08 AM
Response to Original message
33. Shopping is a form of therapy for many who feel depressed.
And there is plenty to be depressed about these days.
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