December 2, 2013

Black Friday Spending


Shelby: How many of you were brave enough to hit the stores on Black Friday? Well, Tom is here with some holiday spending statistics, and it looks like shoppers were pretty savvy this year.

Tom: Yeah, Shelby. Well, an estimated 140 million Americans, that is 44% of the country, decided to cash in on doorbuster deals rolled out by big brands across the country. And experts say you guys did your homework.

In fact, Black Friday shoppers spent about 30% more time researching and comparing prices than they did last year. That is an average of about an hour and twenty-one minutes per shopper.

Brit Beemer: The Christmas shopper, this season, is the most bargain-hunter-driven shopper levels I’ve seen in my thirty years.

Tom: Retail analyst Brit Beemer says while deals brought consumers to the stores, retailers may not be cashing in. That is because even though shopping traffic over the weekend was up about 25% since last year, the money those shoppers spent only increased by about 6%.

Brit: Last year, there were a lot of gifts around $50. This year, there’s more gifts around $35. So, there’s going to be more gifts given but fewer dollars spent.

Tom: While Black Friday gave big brands their chance to make a killing during the holiday hustle, small companies had their own time to shine. Many buyers chose to skip the lines and this…to buy local for Small Business Saturday. Customers spent an estimated $5.5 billion on that event alone.

Expert: Business owners are people that we live by, that we know. And we want everybody to succeed.

Tom: Now the focus turns to today, another major day for businesses – Cyber Monday. It is the biggest day of the year for online sales and, this year, experts are expecting sales to reach around $2 billion! And that is a lot of dough we are talking. But it is still just a drop in the bucket when compared to the four-day weekend’s total spending, which experts say hit a record $59.1 billion.

Shelby: Wow! So, did you guys find bargains worth bragging about? Well, tweet us the deets @ChannelOneNews.


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