Sunday, November 29, 2009

NRF: Number of Shoppers Up, Average Spending Down

by Bill McBride on 11/29/2009 01:33:00 PM

From the NRF: Black Friday Verdict: As Expected, Number of Shoppers Up, Average Spending Down

... a National Retail Federation survey conducted over the weekend confirms the expected: more people spent less. According to NRF’s Black Friday shopping survey, conducted by BIGresearch, 195 million shoppers visited stores and websites over Black Friday weekend, up from 172 million last year. However, the average spending over the weekend dropped to $343.31 per person from $372.57 a year ago. ...

“Shoppers proved this weekend that they were willing to open their wallets for a bargain, heading out to take advantage of great deals on less expensive items like toys, small appliances and winter clothes,” said Tracy Mullin, NRF President and CEO.
...
“During a more robust economy, people may be inclined to hit the “snooze” button on Black Friday, but high unemployment and a focus on price caused shoppers to visit stores early in anticipation of the best deals,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch.

* NRF’s definition of “Black Friday weekend” includes Thursday, Friday, Saturday and projected spending for Sunday.
This is for "stores and websites" - not just brick and mortar.

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