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Black Friday sales numbers come in 3% higher than last year
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AP Photo/Amy Sancetta
ShopperTrak, a research firm that tracks retail sales at over 50,000 locations nationwide, reports that Black Friday sales were up 3% over last year. That's stronger than many financial pundits had predicted. Consumers responded en masse to deep discounts being offered by retailers.
Black Friday sales numbers are not a reliable barometer of holiday sales in general. This year's spike may well be a consequence of people needing to take advantage of the one-day sales events due to tighter budgets. Another factor to keep in mind is that there are 5 fewer days between Thanksgiving and Christmas this year (that's 18% fewer shopping days).
Still, a good day is a good day. Retailers, especially the small business owners, could certainly use some positive news. The mortgage market collapse, financial institutions failing, the auto industry on the ropes and "futurists" predictions of the fall of civilization as we know it, has had a lot them losing sleep over their prospects for the most important quarter of the year.
The government is not going to step in and rescue Dick's Rock Shop or Uthe's Unique Corner Gifts or Leo's Framing. If they're going to get a "bail out" it's going to come from the consumer. Early data is no guarantee that they'll get one, but at least it looks a little more feasible today than it did last week.
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