It looks as if cash-strapped consumers rushed for bargains like never before, but spent less (because they likely feel less wealthy these days). A National Retail Federation (NRF) survey reported that shoppers’ average spending fell 8%
NRF: In order to nab the best holiday items, more shoppers headed out for bargains while it was still dark outside. According to the survey, nearly one-third of shoppers (31.2%) were at the stores by 5 a.m., compared with 23.3 per cent who were at stores by that time last year.
“During a more robust economy, people may be inclined to hit the “snooze” button on Black Friday, but high unemployment and a focus on price caused shoppers to visit stores early in anticipation of the best deals,” said Phil Rist, Executive Vice President, Strategic Initiatives, BIGresearch.
Still, we continue to recommend the ultimate Christmas bargain shopping — after Christmas. It all goes massively on sale every year like clock work. Just shift your family tradition by a week and arbitrage the Christmas traditionalists.
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