A new survey finds retailers are mostly a merry bunch across the state. It comes after a boost in Black Friday sales, increasing their overall bottom line.
According to the Retail Council of New York, 80 percent of retailers surveyed say sales last weekend were the same or better than the same time last year. In fact, 64 percent were pleased with sales over the three-day weekend.
"It's been three years since we've seen numbers this strong coming out of Black Friday weekend," said Retail Council President and Chief Executive Officer James R. Sherin. "Retailers have been studying their customers' buying habits and have a good handle on what to expect this holiday season. Still, we're thrilled to see so many members' expectations become reality."
Top-selling items include electronics, jewelry, toys, clothing and gift cards.
Many merchants say consumers remain budget conscious and conservative in their spending. But they are buying, which is good news for retailers after two years of soft sales.
Shoppers also flooded websites on Cyber Monday. In all, Americans spend big bucks online. Research firm comScore Inc. says revenue rose 16 percent from a year ago to $1.03 billion on the Monday after Thanksgiving, making it the busiest online shopping day ever. Nearly 90 percent of U.S. retailers offered some kind of Cyber Monday promotion this year, compared to 72 percent in 2007.
We should get an even better picture of the state of retail sales Thursday when retailers release revenue figures for the month. Analysts expect revenues to rise 3.6 percent in November. They predict sales of teen and men's clothing to be strong.
"Now comes the hardest work - continuing the momentum. In other years we've had a strong Black Friday weekend only to see sales wither in December," said Sherin. "The true test of shoppers' willingness to spend lay in the weeks to come, particularly the critical week before Christmas."
Information from the Associated Press was used in this article.
