2010 Black Friday Weekend Results
Posted by Phil Ferguson on November 29th, 2010 – Comments Off – Posted in Money MondayNOTE: This post is part of an ongoing education series. This information is for educational purposes only. This information does not constitute investment advice. No rational person would make investment decisions based on a blog post. Please consult with your financial advisor before taking any action. If you think it is OK to make investment decisions based on a blog post, then for the love of the FSM – Stop reading my blog.
Money Monday
We just finished the Black Friday Weekend. This weekend is an indicator of sales for the christmas season. For most retailers this is the make or brake time of year. Some news from the National Retail Foundation.
According to the survey, 212 million shoppers visited stores and websites over Black Friday weekend*, up from 195 million last year. People also spent more, with the average shopper this weekend spending $365.34, up from last year’s $343.31. Total spending reached an estimated $45.0 billion.
Good news! Almost 9% more shoppers and they spent 6% per person than last year. A combined increase of 16% – WOW!
On-line sales were also up. This is from Coremetrics…
Delivered as part of Coremetrics, an IBM Company’s third annual Black Friday Benchmark Report, the analysis of the online retail sector reveals the following trends as of 12:00 am PST compared to Black Friday 2009 (year/year):
- Consumer Spending Increases: Online sales were up a healthy 15.9 percent, with consumers pushing the average order value (AOV) up from $170.19 to $190.80 for an increase of 12.1 percent.
- Luxury Goods Make a Comeback: Jewelry retailers reported a 17.6 percent increase in sales. These affluent shoppers appear very willing to open their wallets.
