From Greg Jennings of OMC Financial Services:
Does Black Friday really gauge consumers’ willingness to spend?
>>Sales were up only .3% from last year despite thousands of shoppers and many retailers opening up on Thanksgiving day
>>Promotions began the first two weeks of November and actually accounted for an increase of 6.2% in sales
>>Big ticket items such as TV’s DVD’s, IPads were the biggest winners because many stores such as Wal-Mart, Best Buy, and Sears gave huge discounts to lure consumers to their stores
>>Outlet stores and malls saw an increase in shoppers which should help Macy’s, J.C.Penny, and Kohls.
>>The average discount in most retail stores was 50%, slightly less than last year
>>Cyber Monday sales are beginning to be a larger part of consumers’ spending for the holiday:
*Shoppers can avoid the crowds
*Online retailers offer big discounts and many offer free shipping
*Some online retails still do not charge sales tax in some states
*Online retails can contact shoppers via electronic communication to promote their products
