Holiday Sales Climb, but Shoppers Are Spending Less

[RamboLiberal]

Source: NY Times

Black Friday was big — but with a big caveat.

With stores dangling steep discounts and consumers worried about the economy, retail sales surged on the day after Thanksgiving, yet the amount of money each shopper spent fell, according to two reports released today. The reports suggest that jittery consumers are flocking to rock bottom prices and to little else — a boon for discounters like Wal-Mart and Best Buy but trouble for higher-end chains like Nordstrom and Abercrombie & Fitch that are averse to discounting.

Sales rose 8.3 percent on Friday compared with last year’s day after Thanksgiving, the biggest increase in three years, according to ShopperTrak RCT, a research firm. But shoppers did not splurge, spending an estimated $348 each over the holiday weekend, down from $360 last year, a survey conducted for the National Retail Federation found.

“American consumers are trying to outsmart the stores and wait for desperation discounts,” said Burt Flickinger, a retail consultant.



Read more: http://www.nytimes.com/2007/11/25/business/26cnd-retail.html?hp

[Deja Q]

1. How evil of those consumers to play the same game, yes?

:crazy:

[sarcasmo]

2. Don't use your credit card, pay them off and cut them up.

Consumerism is EVIL.

[Scooter24]

9. I put everything on my credit card

and I mean EVERYTHING. Bills, shopping, vacations, gas.

But... I pay them off immediately after charging- save the interest but get the flier miles :)

[Kittycat]

18. We do the same, but for gift cards towards clothing or gas/auto repair credits

We leverage our cards for us, and don't fall in to the intrest traps. Paying it off monthly means I get 3% back toward future gas & grocery credits - even to use for oil changes or towards a new car. Another card gives me 1% back towards clothing gift certificates for my kids. We'll also take out the balance on the no payment/zero interest cards, and stick the money in a CD that fits in with the repayment period.

Someone crazed Dave Ramsey Cultist once told me angrily, that I was cheating and scamming the credit card company, and I that I needed to stuff money in envelopes or some nutty thing like that?!?! Apparently they had no control over their credit card habits. I get that what we do is not something everyone can do, or should do - I just didn't get her jumping on me for profiting off of the credit card companies because we are responsible and have the ability to do it.

[L0oniX]

13. Stop Shopping

http://www.revbilly.com/

[KatyaR]

3. I think people are shopping more for big sales for themselves, honestly.

More folks need to save as much as possible on the day-to-day stuff.

[TommyO]

5. I didn't do any shopping, but my brother hit a few stores

Everything that he bought, save one, was for his own house - things that he and his family needed, but waited for.

I have some idea what I'm getting for the rest of my family, but that will have to wait for my next paycheck.

[Deja Q]

6. Like food, water, shelter, gas, and other useless invisible stuff?

[Flabbergasted]

4. Holiday Sales Climb, but Shoppers Are Spending Less

Source: NYT

Holiday Sales Climb, but Shoppers Are Spending Less

By MICHAEL BARBARO
Published: November 25, 2007
Black Friday was big — but with a big caveat.

With stores dangling steep discounts and consumers worried about the economy, retail sales surged on the day after Thanksgiving, yet the amount of money each shopper spent fell, according to two reports released today. The reports suggest that jittery consumers are flocking to rock bottom prices and to little else — a boon for discounters like Wal-Mart and Best Buy but trouble for higher-end chains like Nordstrom and Abercrombie & Fitch that are averse to discounting.

Sales rose 8.3 percent on Friday compared with last year’s day after Thanksgiving, the biggest increase in three years, according to ShopperTrak RCT, a research firm. But shoppers did not splurge, spending an estimated $348 each over the holiday weekend, down from $360 last year, a survey conducted for the National Retail Federation found.

“American consumers are trying to outsmart the stores and wait for desperation discounts,” said Burt Flickinger, a retail consultant.

Retailers’ performance over the Thanksgiving weekend is closely watched because it accounts for roughly $40 billion, or up to 8 percent, of all holiday sales, which are expected to total $475 billion this year, according to the National Retail Federation.

Over all, retail sales growth this season is predicted to be the weakest since 2002, with spending pinched by rising energy costs, falling home prices and a tight credit market.

As expected, cost-conscious consumers favored discount chains over pricier stores over the weekend, according to the National Retail Federation survey, conducted by BIGresearch.




Read more: http://www.nytimes.com/2007/11/25/business/26cnd-retail.html?hp

[onehandle]

7. I had to buy a Wii.

Sorry. I spent exactly $267.49 on "Black Friday."

I knew where to get the Wii on Friday morning at 6 A.M. and went for it.

We've tried our best to not support the Bush economy over the last seven years.

We're not spending another full retail dime for the rest of the year.

I got our games for the Wii off of eBay.

[Psephos]

8. It's not the Bush economy

It's our economy.

Don't forget. :-)

[humbled_opinion]

10. and its only good for those in the top tier...

This Bush economy is a sham for middle and lower income families we get more poor and the upper crust gets richer. Typical GOP plan for Corvee labor....

[GoddessOfGuinness]

12. My kid wants one...

but it doesn't look like I'll find one before Christmas without paying a robber baron price...which I refuse to do. I looked on Ebay, and people are paying as much as $600 for the damn things! Several stores were advertising Thanksgiving and Black Friday sale prices of $250; but I can't get into the stampede mentality.

He'll just have to wait. If it's worth having, it's worth waiting for.

[Psephos]

15. With a bit of diligence, you can score one online

Here's a great site to follow:

http://slickdeals.net/

Go to the forums section, and search for Wii (show thread titles only).

Check each day - you'll see what you want soon enough. SD is a fun site.

Good luck!

[GoddessOfGuinness]

17. Thanks for the link!

Maybe it'll turn up... :hi:

[onehandle]

19. Be at a GameStop when they open...

They often get their shipments late in the day and don't put them out until the next morning.

Fridays and Saturdays are best I understand.

No guarantee this will work. This is gathered from Internet hearsay.

I may have been just lucky because it was that particular day.


Internet hearsay also says that Best Buys, Wal-Marts (yuk)... pretty much any big department store are a waste of time. Their shipments are thinned out across the country and warehouse workers are responsible for many of the $600 Wiis on eBay. Fuck that.

Again, I may have just gotten lucky.

[GoddessOfGuinness]

20. Thanks for the tip...

I'll give it a whirl! :hi:

[Lone_Star_Dem]

16. You have nothing to be sorry for

If you were planning on buying a Wii anyway, and you manage to get one at a really good price due to the "Black Friday" sale, you just made a smart move and saved yourself some cash.

Really, all you did was beat the retailer at their own game. :thumbsup:

[whistle]

11. Retailers got not one dime from me and won't until the after xmas sales

[defendandprotect]

14. Don't understand this Saturday after Thanx thing ... ???? Why? Sales aren't better -- !!!

[pinniped]

21. Worst Buy must be in the pimping business because every damm article....

or news story about this black Friday crap mentions them.

Are they the FN bellwether or something?

[Skittles]

22. If I don't need it I don't buy it

I don't need a 42 inch TV or a WII