Black Friday And Cyber Monday

November 26, 2012

business

 

It is the time of year when people in America go a little loopy with their shopping habits and see no problem with queuing overnight to make sure that they get the best deals possible heading into the festive period. Black Friday has already taken place and it looks like it was an interesting year for the super sales.

Black Friday line

Black Friday line (Photo credit: tshein)

Overall there were more shoppers taking to the streets and malls than last year. A report produced by ShopperTrak showed that foot traffic climbed by 3.5% when compared to last year to more than 307 million people. But overall sales from this year dropped by 1.8% to $11.2 billion. Many people feel that the longer opening hours and the fact that Black Friday is continuing to cut into Thanksgiving will be affecting the way in which people are shopping and how they view the entire Black Friday weekend.

As you may have seen the queues and general stampeding at Black Friday events are unlike anything else. This is perhaps why many people decide to skip the pushing and fighting of heading to malls and choose to do their shopping online. Online sales have soared with many companies releasing deals before Black Friday. Sales increases of around 17% on last year were reported for Thanksgiving and nearing 21% for Black Friday. It is believed that the volume of online traffic will fall back to regular pre-holiday levels. This highlights the shift over this holiday period that Black Friday deals are no longer just for stores and Cyber Monday deals are not just for the single Monday.

We will have to wait and see what the overall growth is for this years holiday period as although people are being given more hours to shop they don’t have more people to buy gifts for and they don’t have more money to spend on goods. It could be seen as a good sign for the economy as the consumers did spend money but it is not a direct representation of the economy as a whole.

Were you involved in the Black Friday sales? Do you think that the Black Friday sales are taking away from the ideals of Thanksgiving? Please leave any thoughts or comments in the comments section below.

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