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Monday, November 28, 2011

Consumers unleash their pent-up demand to chase Black Friday deals

Observation:  By almost all accounts, Black Friday weekend was a record breaker, with more than $52 billion spent by more than 220 million shoppers.  For more details, read this account from today’s Marketing Daily (click to link).

Here's another retail wrap-up, this time from today's New York Times.

Implications:   I will admit that I was among the people who were less than excited about the Thanksgiving Day debut of all those Black Friday deals.  But apparently, the masses responded by shopping on Thanksgiving Day in sufficient numbers as to give the move a consumer stamp of approval. 

Black Friday weekend was, in effect, extended by a half-day (or full day, depending on the retailer).  It will be interesting to see what the total holiday season numbers look like at the end of the year… and whether the retailing of Thanksgiving Day actually helped grow revenue, or simply moved the money to an earlier date.

Regardless of how one feels about shopping on Thanksgiving, it is good to see that consumers are seemingly prepared to spend this holiday season.  That’s a sign we can be thankful for.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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