Black Friday has always been the biggest shopping day of the holiday season and this year was no exception. In fact, this year was even bigger than last year, despite the struggling economy. The economy may be struggling, but it certainly didn’t slow any of the shoppers down. This year Black Friday Sales records were posted all across the country and may hint at successful Cyber Monday record numbers to come.
As it has always been on this shopping day of all shopping days, shoppers either stayed up late or got up super early to hit the stores, in search of the major Black Friday deals that are notorious for this popular shopping day. The day brought in a record breaking $11.4 billion dollars in revenue from retail purchases.
According to ShopperTrak, it is the largest dollar amount ever spent on this day. ShopperTrak also reported that walk in traffic was up 5.1% over 2010’s totals and sales increased 6.6%. Many people continued the shopping frenzy on Saturday since a lot of the retail stores had continued sales all weekend long.
According to the National Retail Federation, an estimated 152 million people were expected to shop over Black Friday weekend, which is a 10% increase over last year. Spokesperson for the NRF, Kathy Grannis said that the estimate is likely to fall short in light of last year’s totals which were predicted to be 138 million and ended up being a record breaking 212 million. Final numbers are not in yet of course, but will be released after the Black Friday weekend is over.
Many of the big name retailers were open Thanksgiving Day or Night, offering specials that brought shoppers out who may not have gone out otherwise early Friday morning to brave the crowds. Toys R Us, Walmart, Kohls, Target, Best Buy, and Macy’s all opened their doors starting with Toys R Us at 9:00.
According to IBM’s Coremetrics, a tracking system that keeps track of 500 retailers in the apparel, health and beauty, home goods and department store categories in real time, the online industry was hopping during Black Friday also, with online purchases up 39.3% on Thanksgiving Day and 24.3% on Black Friday compared to 2010 sales.
Many of the brick and mortar stores offered the same deals that in store patrons were getting, which eliminated the need for them to venture out and brave the crowds and traffic.; a definite appealing alternative to those who don’t like to get up early and fight hordes of deal hungry shoppers. Every category saw gains in sales over 2010, and though the average amount spent seemed to be about even with last year, the amount of items was down a bit, from 7.4 down to 6.4 items for the same amount of money spent.
Don’t think all the shopping ends this weekend though. Even though sales and deals abounded Black Friday Weekend, Cyber Monday is coming, and according to the NRF’s shop.org survey for holiday shopping, 8 out of every 10 retailers plan on offering promotions for their Cyber Monday shoppers. Data tracking firm Comscore is estimating more record sales of 1.2 billion dollars.
- Black Friday Store Hours Unchanged Even After Petitions & Protests (z6mag.com)
- Black Friday 2011 Sets New Retail Sales Record (prnewswire.com)
- Black Friday retail sales hit record, says report(money.cnn.com)