As with many other Americans I was concerned with how well the Holiday shopping season would start off this year. With a lot of economic uncertainty many Americans are not spending the money this Holiday season or so many retailers thought. Surprisingly the day after Thanksgiving (Black Friday) sales rose 3 percent to $10.6 billion. A $.3 billion increase from last year’s sales total. This came as a great surprise too many retailers who were concerned with the lower projected sales figures presented by many analysts.
Now, this increase in total spending did not come without some costs. Many retailers had slashed prices up to 70 percent off in some cases in order to get customers into their stores. Retailers also know that Black Friday and the weekend after Thanksgiving only typically counts for 10 percent of the total Holiday shopping sales. Even with the early rise in sales there are still some concerns about the remainder of the holiday shopping season. The total number of days to shop during the Holiday season is down from 31 to 27 with Thanksgiving being later this year. This along with the bad economy could prove to be a tough season for retailers, but early numbers show some good signs.
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