Black Friday Sales Up Over 2007
Although many of us at Queercents vowed to “Buy Nothing” on Friday, sales reports are showing that this year’s Black Friday sales were up from last year, giving the much beleaguered economy an injection of cash. According to the LA Times, “Nationwide, more than 172 million shoppers visited stores and websites over the four-day weekend, up from 147 million last year, the National Retail Federation said Sunday.” Market Watch is reporting a 3% total increase in actual sales over last year.
Both websites, however, are cautioning that strong sales on Black Friday are unlikely to translate into strong sales for the entire holiday shopping season. Consumer spending has been slow throughout September and October, with people really tightening their belts, and the LA Times says that this wil continue through the end of the year:
Even as they shopped for toys and TVs, consumers continued to watch their wallets.
“Though retailers should be encouraged by strong traffic and sales over the weekend, consumers are still being cautious,” said Phil Rist, executive vice president of strategic initiatives for BIGresearch, which conducted the National Retail Federation’s survey. “Weekend shoppers indicated that they are still sticking to a budget and thinking carefully before making any holiday purchases.”
I’m happy to say that I am officially done with all of my holiday gifts. I bought a few presents online this weekend (I’m not crazy enough to head to the stores). But for the most part, all of my gifts are homemade this year. I have been buying presents for my nieces all year by scouring the Dollar Bins at Target. You can really stretch $10 by getting little stocking stuffers that way. I agree with Elizabeth that handmade gifts just have more mindfulness behind them. So my apologies to the retail workers that I haven’t provided more of an economic stimulus package by boosting retail sales. But I’m on a really strict budget.
For those of you who hit the stores this weekend, did you notice a measured difference from the crowds last year? If you stayed home, will you be cashing in on Cyber Monday sales online today? If you got a good deal on Black Friday, what are you most excited about acquiring? Or will that spoil somebody’s Christmas surprise?
Photo Credit: Getty Images
“If you got a good deal on Black Friday, what are you most excited about acquiring?”
Easily- the $5 High School Musical dolls at Walmart. I was originally going to only get one (Troy) doll for my daughter as hers got broken a few months ago– but at $5 each- she will be getting Troy AND 3 others she never had (Monique, Ryan, and the Corbin Bleu character whose name I never remember).
Seconded by Crayola Art Supplies on early bird sale at AC Moore for my son. He goes thru crayons, markers, paper and such like no one else. The best thing he’ll like is something called a cutter which can be used to trace artwork and cut it off a page.
And good towels for $2.50 at JC Penney as an early bird sale.
(We had been to Walmart, K-Mart, AC Moore, JC Penney, Rite Aid, CVS, Target, and Jo-Annes Fabric Store all before 8:30 in the morning- starting at 4:30!)
Holy cow, Diva Jean! Way to use your time efficiently. I’m tired just hearing how many stores you were able to hit in a 4 hour period. Good grief!
Serena: I thought it was interesting that the same day the news reported that Black Friday sales were up, this was also on the top story out on the wire: It’s official: The recession is here!
And with that, the stock market got hammered again. The Dow Jones average plunged nearly 700 points yesterday… another “worst point drop” ever day. I doubt that “shopping” is what will bring our economy back.
Here’s another headline from yesterday: Credit card industry may cut $2 trillion of lines.
Uggh, it’s not over yet!
Nina, yeah I wouldn’t be surprised if the credit card companies are the next in line with their hats in hand, asking for a government bail out. Where will they draw the line?
Oh- I forgot to mention I used CASH only this year- so no big boom when the credit card bill comes.