Saturday, December 5, 2009
Disappointing "Black Friday" Reports
By, Meredith Anderson
While some enjoyed their Thanksgiving breaks at home with family relaxing and catching up, others were watching the clock on Thanksgiving. Many people would agree that the holiday season officially kicks of with the Macy's Day Thanksgiving Parade. However millions other agree that the Friday after Thanksgiving, which has come to be known as "Black Friday," is the real deal. Hundreds of people wait outside stores with the sun hours from even rising to try to grab the best deals.
It's been said that "Black Friday" is not only a great time of profit for companies, but also a very helpful predictor for how the rest of the season will play out. With all the hard months in the past this year was suppose to be a good day for everyone. In fact sales increased .5% from last year.However with this excitement can some disappointment when more analysis showed that the increase in shoppers was making this data seem more favorable then it actually was. Almost 2 million more people showed up at stores on Black Friday, making the sales for this year an actual loss of 8.6%.
The newest introduction to the retail tradition now known as "Cyber Monday," was actually retailers best hope this year. The sales that continued online till Monday showed a drastic improvement of 19.6% from last year. Internet is still only a small portion of the industries sales, however it is showing the strongest future for this season.