Retailers in Big Trouble: horrible cut in Spending on Black Friday

Discussion in 'Economy' started by Neubarth, Nov 30, 2009.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    American consumers shopped more for bargains at the start of the U.S. holiday season and spent significantly less than a year ago, according to early data released on Sunday.

    Consumers said they will have spent nearly 8 percent less on average, or about $343 per person, over the weekend that includes U.S. Thanksgiving Day, Black Friday and runs through Sunday, according to the National Retail Federation.

    While traffic to stores and retail websites rose to 195 million people from 172 million in 2008, the early data this weekend represents a worrisome sign for retailers, who had braced for weak sales and sought ways to protect margins.

    Data released by ShopperTrak on Saturday showed that sales rose a scant 0.5 percent on Black Friday, which is often the single busiest day of the holiday shopping season.

    US Shoppers Spent Less Over Black Friday: NRF - Retail * US * News * Story - CNBC.com
     
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  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    THAT WAS A VERY BIG DROP! Not a good sign for the economic revival. Oh well, the Obama administration will come out with a whole barrage of false data and misleading comments to try to get the market to go up today. Obama needs to be forcefully removed. The sooner the better.
     
    Last edited: Nov 30, 2009
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    I had to get a prescription filled and without thinking it through, had it filled at Sams Club -- on Black Friday.

    I had horrible thought about not being able to park in the lot, fight my way through the lines to even get to the pharmacy, then having to wait on lines for hours to fill the prescription and then pay for it

    I went to Sams Club in Elmsford, NY on Black Friday at 4 pm -- park right near the entrance as there were many many spots open.

    Average of only 2 customers at each of the registers! Like a Ghost Town!!

    Took me all of 10 minutes from parking to exiting.

    I can't imagine this was a good day for Sams Club
     
  4. uscitizen
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    uscitizen Senior Member

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    I went to Office Depot on Saturday evening and they still had plenty of black Friday specials left. Bought an extra Plantronics bluetooth thingy for $15.
    Well that and the ink cartridge I origionally went in for.
     
  5. The Rabbi
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    The Rabbi Diamond Member

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    I think you are the one offering false data. In truth, people spent less but there were more people. Overall spending was UP marginally from last year. It was not a "very big drop."
     
  6. Neubarth
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    Neubarth At the Ballpark July 30th

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    Reality has escaped you. They have meds that can help you in your confused delusional state.

    Remember, it is not my article, but one of another. Eight percent is substantial.WHEN I was a teenager out of high school. I did a lot of window shopping, but seldom bought because I did not have the coin. Guess what is the operative consideration here?
     
    Last edited: Nov 30, 2009
  7. The Rabbi
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    The Rabbi Diamond Member

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    I think you failed math.
    The absolute number of people shopping doesn't matter. The amount per person spent doesn't matter. The total amount spent is all that matters. And that number is positive from last year.
    The number sucks. The number shows we're nowhere near recovery. The number suggests a lot of retailers will be shutting their doors come Jan. But it does not add up to what you claim.
     
  8. jillian
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    jillian Princess Supporting Member

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    actually, what the numbers show is that brick and mortar sales are same as last year... but internet shopping is up

    according to bloomberg.com and thestreet.com, cyber sales were up 16% over last year at just 3 p.m. today.

    Cyber Monday Sales Rise 16% in U.S., Coremetrics Says (Update2) - Bloomberg.com

    Cyber Monday Sales: Holiday Bright Spot | Innovation Update | Financial Articles & Investing News | TheStreet.com
     
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  9. The Rabbi
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    The Rabbi Diamond Member

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    And that contradicts what I wrote, how?
    Actually what I saw was that last year's sales were about $14B or something and this year's were 14.3. Distribution was a little different, is all. Still not the blow out year people had hoped for. And it bodes ill for January.
     
  10. Toro
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    Toro Diamond Member

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    Rabbi is correct.

    Sales did not drop. Sales rose, although not by much.

    Sales per shopper is irrelevant.
     

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