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Dec 1, 2008 by Mark MaierInitial reports coming in show that retail sales were up over the weekend and Black Friday was a success. "Execs Exhale: Initial Spending Stronger Than Expected" was the headline from MediaPost today....
"The National Retail Federation's 2008 Black Friday Weekend survey--which measured Friday and Saturday, and used estimates for Sunday--indicates that some 172 million Americans shopped in stores and Web sites over Thanksgiving weekend, an increase from last year's 147 million. NRF estimates they spent an average of $372.57--a 7.2% jump from the $347.55 spent last year, with total spending projected at $41 billion."
The article goes on to say that 32 shopping days were to be had after Thanksgiving last year while only 27 days were left after Thanksgiving this year, but spending was up...
"ShopperTrak RCT, a Chicago-based company that tracks retail results, also saw encouraging levels of spending--reporting a 3% gain from last year, with Black Friday sales totaling $10.6 billion. Spending was strongest in the South, at 3.4%--followed by the Midwest, up 3%, the West, up 2.7%, and the Northeast, up 2.6%. "
Meanwhile The Media Center For Research released a brief harolding "Black Friday Online Retail Up" but it goes onto say that Cyber Monday will be the Bellwether. Of special interest to me were the charts that showed spending to date.....
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2008 Holiday Season To Date vs. Equivalent Shopping Days in 2007 Online Retail Spending (Total U.S. Home/Work/University Locations) |
|
Holiday Season to Date |
Millions ($) |
|
|
|
|
2007 |
2008 |
Pct Change |
|
November 1 - 28 |
$10,839 |
$10,410 |
-4% |
|
November 27 (Thanksgiving Day) |
$272 |
$288 |
6% |
|
November 28 ("Black Friday") |
$531 |
$534 |
1% |
|
Source: comScore, Inc., November 2008 |
The other chart that caught my eye was the results of recent surveys of consumers and what they plan or don't plan to purchase this holiday season...
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Holiday Shopping Cost Cutting Plans (2008 Total U.S.Home/Work/University Locations) |
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|
Percent of Respondents |
|
General Shopping |
|
|
Buying fewer gifts |
47% |
|
Buying less expensive gifts |
46% |
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Using coupons I receive from my newspaper or via mail |
37% |
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Spending more time searching for deals in stores |
32% |
|
Shopping early in the season to take advantage of sales and or discounts |
22% |
|
Shopping later in the season to take advantage of price reductions |
19% |
|
Online Shopping |
|
|
Shopping online to take advantage of free shipping, no tax, etc. |
39% |
|
Spending more time researching deals online |
37% |
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Using online coupons or coupons I receive via email |
31% |
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Using comparison shopping engines to find the best deals |
25% |
|
Shop online auction sites |
21% |
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Shop online classifieds |
8% |
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Using deal of the day sites |
8% |
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Source: comScore, Inc., Holiday Shopping Survey, November 21-24, 2008 |
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