2009 Black Friday Sales Are Down
One day does not make or break a holiday shopping season, but the preliminary Black Friday numbers aren’t looking promising …
According to the National Retail Federation, 195 million people shopped in stores and online over the Black Friday holiday weekend, which is up 13.4% from last year’s total of 172 million shoppers. These bargain-hunters spent less, though, with average “per shopper” spending dipping from $372.57 last year to $343.31 this year – an eight percent decline.
Add all that math up and you’re looking at an estimated $41.2 billion in sales for the three-day weekend – which is up only marginally from 2008’s total of $41 billion.
Last year, you’ll recall, was the worst shopping season in nearly half a century – which has helped drive the record unemployment we’re seeing across the country.
How so?
Well, you wouldn’t know it from the anti-capitalist policies coming out of Washington D.C. these days, but consumer spending is what drives the American economy – accounting for 70% of our nation’s gross domestic product.
So … when government sucks up all the oxygen from the private sector, bad things happen.
Incidentally, these disappointing numbers for the first weekend of the 2009 holiday shopping season are in line with initial in-store results from Black Friday itself. According to those figures – compiled by ShopperTrak – estimated in-store receipts stood at $10.66 billion (not counting online sales).
That represented an increase of less than half a percent from last year’s $10.6 billion haul.
Again, it’s too early to say whether or not the 2009 holiday shopping season will pick up steam, but it’s certainly not off to a good start.
Comments
By weighing in on November 30th, 2009 at 3:42 pm
DOW is a above 10000 again…..with all that government oxygen sucking and anti-capitalist policies.
It is apparent Sic never took economics….ever
By Billy Bob on November 30th, 2009 at 5:23 pm
Amen Weighing In – - and an economy built on retail sales is a house of cards. How about building it on real economic activity rather than trading in cheap foreign goods.
By No Way! on November 30th, 2009 at 6:07 pm
If Obama would just resign, the economy would improve, as would the status of this great country!
By Liberty For Me on November 30th, 2009 at 8:50 pm
weighing in…not for long.Stocks built on BS will fall, as will the dollar(even more)
By Dr. Hunley on December 1st, 2009 at 9:30 am
I will try to find the link, but I read an article that was talking about retailers having less foot traffic in stores, but a hell of a lot more traffic online. I for one have always found better deals online. I believe others are starting to do the same. Newegg and Slickdeals ftw!
After reading By No Way’s comments I have realized that some will always be closed minded and ignorant no matter which way country grows.. or dare I say evolve.
By Truth Sayer on December 1st, 2009 at 9:48 am
Are you serious? Have you been awake in the last year? You are blaming weak consumer spending on Obama?
By You make me FITS on December 1st, 2009 at 7:28 pm
Fits, you don’t have to have taken economics 101 to understand that an ecomony based on more than 50% consumer spending is perfectly unsustainable for any extended duration of time…the only way that it every had sustained even in the short term was by consumer debt spending – credit cards, home equity lines et cetera. Guess what, we are all tapped out.
What American needs is industry and production, unfortunately free trade stupidity has traded American prosperity and opened up US markets asking for nothing in return (and especially not that those countries open up their markets to US products).
Every bit of economic data that comes out does not need to be foolishly twisted to support your simpleton ecnomic theories.
By fitsnews on December 1st, 2009 at 7:32 pm
YMMF,
With all due respect, what’s unsustainable is trillion dollar deficits to fuel the growth of government in DC.
But guess what … China’s about tapped out.
-FITS
By cuthean on December 1st, 2009 at 9:10 pm
buy physical silver and ammunition.
we’re about to go yugoslavia.
By You make me FITS on December 1st, 2009 at 10:16 pm
Fits, I couldn’t agree with you more, and your comment is not contradictory to my original point though.
By I am a Proud White Man on December 2nd, 2009 at 7:58 am
All of my holiday shopping will be physical bullion, guns, ammo, food, water, maybe a quality grill with lots of propane and 100 or so gallons of gasoline, etc. The same things I have been buying all year.
My mom probably will not appreciate me giving my little brother a shotgun and a 10/22 for Christmas, but oh well, it is happening. God bless all of you and your families who have been speaking out against the treachery and corruption of our government for years.