Black Friday Sales Down As Shopping Habits Change
” Consumer spending during America’s Thanksgiving weekend dropped compared to last year, but the decline can be attributed to an improving economy and changing shopping habits, a survey found Sunday.
According to the National Retail Federation’s Thanksgiving weekend spending survey, 55.1 percent of holiday shoppers were expected to visit stores or go online over Thanksgiving weekend, down from 58.7 percent last year.
” A strengthening economy that changes consumers’ reliance on deep discounts, a highly competitive environment, early promotions and the ability to shop 24/7 online all contributed to the shift witnessed this weekend,” NRF President and CEO Matthew Shay said in a statement.
According to the survey, the average weekend shopper was expected to spend $380.95, down 6.4 percent from $407.02 last year.
Of that amount, $159.55, or nearly 42 percent, was spent online, down from $177.67 spent online last year.
Total spending was expected to reach $50.9 billion, down from last year’s estimated $57.4 billion. “
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