Monday, November 30, 2009
Black Friday Effect
Many people went out to shop on the traditional start of the holiday shopping season, the weekend after Thanksgiving. Americans spent $41.2 billion which was comparable to last year. Many more people went in 2009 than in 2008. Although there were more people, the amount spent did not increase. The amount spent per person actually went down. Many stores will probably keep around different deals to keep the money coming in. A good indicator of the spending to come will be the amount of products bought on Monday, Cyber Monday, where people can begin to shop online. The National Retail Federation predicts that sales will go down by 1 percent this year compared to last. Hopefully people keep buying so the stock market can keep going up possibly.
Subscribe to:
Post Comments (Atom)
A lot of people do go shopping on Black Friday, but not all of them spend the same amount of money each year. Most people didn't spend as much because they are trying to cut back on spending for other things like food and bills they have to pay. More people were able to go because they had money to spend during the weekend on presents this time around instead of last year where they might not have had the money to get even a single present.
ReplyDeleteI believe that due to the shortage of income of many families, the amount of money that will be spent on christmas will be a lot less than years before. Many people have been laid off their jobs this year and this will limit the amount of money that they will be able to spend this coming christmas. I don't think that christmas spending will not begin doing better until the economy starts doing better.
ReplyDelete