Yesterday was ‘Black Friday’ the day after Thanksgiving which all retailers, brick & mortar as well as online watch for signs of the health of the Christmas shopping season. Bloomberg.com reported the following:
U.S. consumers spent $10.3 billion on holiday purchases yesterday, an 8.3 percent increase from last year, after retailers promoted electronics and toys to woo shoppers.
Further in the article, Bill Martin, co-founder of Shoppertrak, the source of this information, said:
“I think there was pent-up demand given the slow sales in October and November because of unseasonably warm weather, and people want to find value for their dollar and reacted to the specials.”
Nice. But when he says:
ShopperTrak estimates customer visits to stores will drop 2.5 percent this holiday season, which covers the 32 days between Thanksgiving Day and Christmas.
You’ve got to wonder if store visits will produce a pick up for online retailers.
Now that sounds pretty good a sign that folks will open their wallets and purses to spend on Christmas gift giving. And as a retailer that sounds better than any Christmas carol!