Black Friday sales up, despite slow economy

Tools

By CNN

NEW YORK (CNN) - Holiday shoppers continued their trek to malls and big-box stores Saturday, amid early indications of slightly higher Black Friday sales to kick off the season.

The nation's retailers were watching anxiously, having already suffered significant declines this year thanks to the weakening U.S. economy.

But the first nationwide returns were positive for merchants.

One Research firm says Black Friday sales are up 3%, thanks to deep discounts, in cautious start to the season.

ShopperTrak RCT, a retail industry research firm, said total Black Friday sales rose 3% this year, to about $10.6 billion nationwide.

Bill Martin, the firm's co-founder, said that given the headwinds facing the nation's merchants - a troubled economy, the traditional weakness in a presidential election year and the aftermath of the summer's record gas prices - the first day was pretty positive.

"Under these circumstances, to start off the season in this fashion is truly amazing and is a testament to the resiliency of the American consumer, and undeniably proves a willingness to spend," Martin said in a statement.

He credited deep discounting for a lot of the sales increases, which were fairly consistent across the nation - up 3.4% in the South, 3% in the Midwest, 2.7% in the West and 2.6% in the Northeast.

"While this is an encouraging start for retailers, there's no guarantee these deep discounts will continue after Black Friday weekend, which could slow spending," said Martin. "Additionally, consumers have just 27 days to shop this year as opposed to 32 in 2007, which may catch some procrastinating consumers off guard, leading to lower sales levels."

View comments

The following comments do not necessarily represent the views of NBC Augusta 26 | news, weather, sports, community, entertainment, shopping for Augusta, Georgia. Users have agreed to these terms and in doing so accept full responsibility for their comments. Moderation is limited.

Add a comment

Name:

Comment: 500 Characters Left

WAGT and its affiliated companies are not responsible for the content of comments posted or for anything arising out of use of the above comments or other interaction among the users. Comments are posted on site immediately and without station moderation. If you feel a comment is inappropriate you may flag it for review. For guidelines on flagging comments see our Terms & Conditions. We reserve the right to screen, refuse to post, remove or edit user-generated content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any Public Forum.

I have read and agree to the terms

Hide comments

More Good Stuff

WAGT Weather

Click here for 7 Day Forecast
Icon
Current Temp 54.0 °F
Fair
More Weather

WAGT Weather

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

On Demand

NBC Augusta 26 RSS FeedsNBC Augusta 26 Twitter Feed NBC Augusta 26 Facebook Page NBC Full Shows Online

Viewer Poll

Do you plan to go shopping the day after Thanksgiving?

  • Yes
  • No
  • Undecided