Christmas Sales Down, Thanks Obama –Image: Accuracy in Media
(NY Times) It was a cold, clear day in Leesburg, VA and a Security Guard at am outlet mall there said the midmorning crowd was smaller to that of a typical Friday but an ordinary day it was not. It was ‘Black Friday’ traditionally the biggest shopping day of the year.
With the nations economy stumbling along and consumer confidence hitting a 7 month low in November ‘Black Friday Weekend’ itself the seasons customary kickoff is looking a bit gloomy.
Christmas shopping generally accounts for 20 t0 40% of a retailers annual sales and ‘Black Friday Weekend’ typically represents 10 to 15% of those sales.
Over the course of the weekend, Consumers spent $1.7 Billion less on Christmas shopping than they did just a year ago, according to the National Retail Federation.
According to Yahoo/Finance retailer got Americans into stores over the weekend but failed to motivate them to spend. A record 141 million people were expected to shop in stores over the four day weekend ending yesterday up from last years 137 million but total spending was expected to fall ‘for the first time ever’ since the National Retail Federation began tracking the numbers since 2006
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