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Strong Start For Holiday Shopping

BUT WILL IT LAST? It remains to be seen whether the 2012 holiday shopping season will meet its modest growth estimates from last year, but retailers are reporting strong sales from its kickoff weekend. An estimated 247 million shoppers visited stores (and made internet purchases) during the extended Black Friday…

BUT WILL IT LAST?

It remains to be seen whether the 2012 holiday shopping season will meet its modest growth estimates from last year, but retailers are reporting strong sales from its kickoff weekend.

An estimated 247 million shoppers visited stores (and made internet purchases) during the extended Black Friday weekend – a new record.  That’s an increase of 9.2 percent from a year ago.  These shoppers purchased an estimated $59.1 billion worth of stuff – also a new record, and an increase of 12.8 percent from 2011.

Also, online shopping on Black Friday broke the $1 billion mark for the first time ever.

These figures – courtesy of the National Retail Federation – are obviously preliminary.  But if they pan out, it’s a strong start to the 2012 holiday season – which lasts longer than usual this year given that Thanksgiving fell on November 22, its earliest possible date.

Next year Thanksgiving will fall on November 28 – it’s latest possible date.

Retailers generally do 40 percent of their business during the final two months of the year – and as much as a quarter of their holiday shopping during the Black Friday weekend.

Here’s the question, though … will the momentum from this year’s apparent record-breaking Black Friday be sustained throughout the extended holiday shopping season?  Or did consumers shoot their wad early?

Obviously we’re fans of Black Friday. It shows that this free-market system of ours still has a pulse.  On the other hand what’s driving most of these purchases? Government salaries? Unsustainable entitlements? Temporary assistance to needy families and other government handouts? And let’s not forget about extended unemployment benefits.

And what about the money that’s not coming directly from government sources? How much of that is credit card debt?

Explore these – and other Black Friday-related questions – in this excellent column written by new FITS contributor Megan Jones.

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6 comments

BigT November 27, 2012 at 11:17 am

I think a lot of Americans are going to D@#n the Torpedoes now that it sinks in that we are not going to get the CHANGE we needed on Nov. 6.

It’s tough to Hold REAL Americans Down…but Obama is Trying his best…

We’ll tread water…and if the democrats end up offering a white candidate in 2016, the Race-Haters and illegals will not come out…and maybe the GOP can put a bona-fide Conservative, and choice, on the ballot…

Until then, we’ll PUSH on…and make the best out of what is now a MISERABLE 8 years of economy….

Reply
Common Sense November 27, 2012 at 4:08 pm

why are yous till posting on this site? you would think after making a total asshole out of yourself for over a year with your guaranteed predictions you would hide your ignorant, racist bigoted ass and never speak again if you had an ounce of self respect. You once again, like soooo many times before just clarify what a true ignorant mouth breather thinks..thanks for helping get Obama elected..without ignorant racists like you he wouldnt have stood a chance. Thanks sarah!!

Reply
BigT November 27, 2012 at 6:47 pm

Liberals (like you) HATE and FEAR the TRUTH…

The media tells you fairy tales…I Slap the P!$$ out of you w/ Reality…

Deal w/ it, punk…This is my Country, even if you can get lazy deadbeats, bitter race-haters and illegals to put an Anti-American in the white house…

We’ll never give you what we built…regradless of what your false gods feed you….

Get used to it…

Reply
Common Sense November 27, 2012 at 7:12 pm

deal with the fact you are a clueless asshole who couldnt pick the winner in a two horse race. You got tooled on every pick you made..you are an ignorant racist asshole who is a laughing stock..deal with that..as wella s President Obama you fucking idiot. Your bigoted racist ignorant tea bagger5s lost..and big..deal with that..yuou will keep losing ..deal with that..loser. Life beat the shit out of you and your bitter lonely fat white guy.deal with that..you are a joke.

Reply
Carl Spackler November 28, 2012 at 2:21 pm

Dammit T, your credibility in these parts is zero….less than zero actually.

Give the propoganda a rest.

Reply
BigT November 28, 2012 at 8:04 pm

Wow, Carl: This site is infested w/ anti-American Liberals….

And you HATE me. waht a surprise…you must be on of the leftwing’s ‘Best and Brightest’ you are always calling yourselves….

PS: Propaganda…LMFAO….You have the most poweful propaganda machibne since NAZI Germany….

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