Retail Foot Traffic Up 5.1%
Despite weak economic growth and a national unemployment rate of over 9%, Americans turned out in droves for "Black Friday".
According to ShopperTrak, which is the world's largest provider of retail and mall foot-traffic counting services, "Black Friday" retail sales were up 6.6% from last year. Americans shelled out a total of $11.4 billion in brick and mortar stores this year, which is the highest total on record.
According to ComScore, "Black Friday" online sales surged 26% to $816 million this year, which is also the highest total on record.
There was some initial speculation that "Black Friday" spending was going to be flat over last year, but these rumors turned out to be unfounded.
In the end, Americans gladly opened up their wallets and purses despite the economic malaise that we are currently living through. Americans are spending more and saving less, and this trend continued through "Black Friday".
Next up? Cyber Monday, which takes place tomorrow.
Source: Black Friday 2011 Sets New Retail Sales Record
Source: Comscore.com - Black Friday Boasts $816 Million in US Online Holiday Spending, Up 26 Percent vs. Year Ago
Filed under: General Knowledge
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