Black Friday Sales Boom To $52 Billion
The National Retail Federation announced, based on a survey from BIGResearch, that Black Friday weekend spending reached $52 billion. According to the survey, a record 226 million shoppers visited stores and websites over Black Friday weekend, up from 212 million…
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The National Retail Federation announced, based on a survey from BIGResearch, that Black Friday weekend spending reached $52 billion.
According to the survey, a record 226 million shoppers visited stores and websites over Black Friday weekend, up from 212 million last year. Digging deep into their holiday budgets, the average holiday shopper spent $398.62 this weekend, up from $365.34 last year. Total spending reached an estimated $52.4 billion. Additionally, shoppers also checked out retailers’ deals online, spending an average of $150.53 on the web – 37.8 percent of their total weekend spending.
Lured by promotions on everything from winter apparel to tablet devices, shoppers definitely stocked up on discretionary gifts this year. More than half (51.4%) bought clothing and clothing accessories, and gift buyers were also drawn to promotions on electronics and computer-related accessories over the weekend. Nearly four in 10 (39.4%) bought electronic items, up from 36.7 percent last year. Additionally, shoppers stocked up on home décor (21.3%), gift cards (23.1%), toys (32.6%), and jewelry (21.8%).
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
