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Doom cancelled : Black Friday sales about 20% higher than last year

 
Anonymous Coward
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11/28/2009 09:08 PM
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Doom cancelled : Black Friday sales about 20% higher than last year
Or so they say...

[link to www.time.com]

Preliminary data indicates Black Friday sales got off to a roaring start this year, with consumers shopping earlier and online sales increasing significantly over last year.

Retailers across the board reported strong crowds early Friday, with high-definition televisions, laptops, winter coats and the popular toy Zhu-Zhu pets among the hottest items. "There were bargain-hungry shoppers out there, and retailers really did pull out all the stops for people," says Kathy Grannis, a spokesperson for the National Retail Federation, noting that many of the day's hot item carried the steepest discounts. (See TIME's 2009 holiday gift guide.)

Some of the sales bump is likely resulting from an expansion of the Black Friday sales hours. Many brick-and-mortar retailers opened their doors as early as midnight — rather than the traditional 6 a.m. shotgun start, and some offered their door-crasher deals online even earlier — on Thanksgiving day. "Many retailers took their Black Friday sale items and put them online on Thursday starting just after midnight on Wednesday," says Fiona Dias, executive vice president of strategy and marketing for GSI Commerce, a company that runs about 80 e-commerce websites for retailers and fashion designers. "This was a major shift this year."

One sign of this trend: PayPal reported a 25% increase in the dollar volume of sales on Thanksgiving Day from the same day a year ago, according to Amanda Pires, senior director at PayPal. The online pay site is used by consumers to make purchases at online retailers and at its sister site, eBay. (See the best tech gifts of 2009.)

Still, Friday had its own energy — early data indicates traffic for the day to both brick-and-mortar retailers and online retail sites was up.

"It's like night and day," says Matthew Katz, managing director at consultancy AlixPartners' retail practice, whose team traveled to about 30 malls, big box retailers and strip-mall centers to monitor activity today in different parts of the country. "I purposely went to the same mall in Short Hills, N.J. at 9 a.m. as I went to last year, he says. "Last year [on Black Friday] I parked in the front row, and this year it took me about 20 minutes to get a spot." (See pictures of expensive things money can buy.)

Katz says the busiest stores, from a traffic perspective, were Apple, GameStop, Toys R Us and Best Buy, although the retailers with the most people carrying shopping bags were department stores.

Online retailers were busy too. GSI's flock of web retailers averaged 520 orders in their peak minute of sales on Black Friday, up from 430 orders during the peak minute a year ago. "It was about 20% higher orders per minute than it was last year,' says Dias. However, she speculates it's possible orders will drop off on Saturday and Sunday if shoppers were only seeking time-limited door-crash specials.

Cyber Monday will be another big day for online retailers, though here, too, the calendar boundaries have been blurred. Online retailer Amazon, for example, is offering a constantly updated list of special discounts and calling it "Black Friday Deals Week."

The biggest insight to come from Black Friday sales data will be changes in shopper behavior. People may be getting more time to find deals this year, but there are fewer big deals to find — the 75% to 80% markdowns seen during last year's holiday season are now rare. Retailers purchased up to 20% less inventory this year in anticipation of slower sales, so they're not under the gun to slash prices to clear inventory — at least not yet.

The really big markdowns were on specific items, not across the store as they were last year, says Katz. "They were price-point driven, not percent-off driven," he says. "You saw a lot of gifts under $50 or gifts under $100 — you didn't see 50% off."

"From a traffic perspective, there were more people in the malls than in years past," he says. However, it's not yet known if traffic translated into big sales, as this data will not be available until later this weekend.

Even if the final tally indicates sales surpassed last year's numbers, it's not necessarily clear sailing for retailers through the holiday season. The average shopper spent $372 over the Black Friday weekend last year, which was up from $347 the previous year, says Grannis. Yet, holiday sales, which tracks total sales through November and December, fell 3.4% — the first decline since the NRF started tracking sales in the mid-1990s, she says.

Says retail consultant Katz: "There's a lot of positive momentum, but we're not out of the woods."

..............................
Remember that most of those things sold on black friday are making no profits... or little profit....
Anonymous Coward
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11/28/2009 09:13 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Other sources from CNN, fox, and cnbc said that overall the increase was only 0.5%
tkwasny

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11/28/2009 09:13 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
If Walmart had 18-wheelers full of those $248 Emerson 32" HDTVs and forklifts/workers standing by they could have sold 5,000 units PER STORE easy. They'd still be sold out by 0500 when the sale was supposed to start.

What an incredible lost opportunity for quantity sales.
Art Deco

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11/28/2009 09:13 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
You have to wonder, if Black Friday did so well this year, does that mean people did all or almost all of their shopping yesterday and this weekend, and won't do any more until the after Christmas sales?

At this point, for all we know, all this means is the rest of the season might be a bust.

But, I have no idea. As opposed to the experts, I'm readily willing to admit I'm full of shit. And, if it turns out I am...I apologize.
In ten years we'll look back on this moment, laugh nervously, and quickly change the subject.
blackcat66
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11/28/2009 09:16 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Not in my area.
I don't go by statistics or what the media says. I observe. This year, the parking lots at malls were almost empty and the ones who are at the malls, are mainly young people flirting and obsessed with their cellulars.

Other years, 'black friday' was huge around here.
Anonymous Coward
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11/28/2009 09:16 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
If Walmart had 18-wheelers full of those $248 Emerson 32" HDTVs and forklifts/workers standing by they could have sold 5,000 units PER STORE easy. They'd still be sold out by 0500 when the sale was supposed to start.

What an incredible lost opportunity for quantity sales.
 Quoting: tkwasny



Did you miss out on one? You sound bitter.

For all we know that could have been a 'loss leader' for them.
Anonymous Coward
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11/28/2009 09:19 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
I measure the success by how many people were trampled to death
Anonymous Coward
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11/28/2009 09:21 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Other sources from CNN, fox, and cnbc said that overall the increase was only 0.5%
 Quoting: Anonymous Coward 829407

One source. [link to money.cnn.com]
all2human

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11/28/2009 09:21 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
If Walmart had 18-wheelers full of those $248 Emerson 32" HDTVs and forklifts/workers standing by they could have sold 5,000 units PER STORE easy. They'd still be sold out by 0500 when the sale was supposed to start.

What an incredible lost opportunity for quantity sales.
 Quoting: tkwasny

Yeah there's lots of idiots out there just ready to snap up cheap TVs with only a 90 full warranty.
Hand_of_Man

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11/28/2009 09:21 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
I work for Sam's Club and we were busy between 5 and 7 and then it died right down. Just our store was down $93K or so for the day. We did $60K in the first hour last year and did nowhere near that this year. I heard that more people are paying cash and not using credit cards. Well, by the time I left at 1:30pm on Friday, I had rung up over $30K in sales just on my own and the breakdown was $3400 or so in cash and $16K or so in credit cards plus other tenders. Tell me what's up folks? I mean that was just me, but if it was the same across our entire front end, then the MSM is lying to us. Come January, the credit industry is gonna take another huge hit when people can't pay their credit card bills.
Anonymous Coward
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11/28/2009 09:21 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Other sources from CNN, fox, and cnbc said that overall the increase was only 0.5%
 Quoting: Anonymous Coward 829407

One source. [link to money.cnn.com]
Anonymous Coward
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11/28/2009 09:21 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Doom Canceled?

























Maybe in China
Art Deco

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11/28/2009 09:23 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Not in my area.
I don't go by statistics or what the media says. I observe. This year, the parking lots at malls were almost empty and the ones who are at the malls, are mainly young people flirting and obsessed with their cellulars.

Other years, 'black friday' was huge around here.
 Quoting: blackcat66 348276


I mentioned this in another thread.

I went to the mall today to do a little shopping.

The parking lot was full, but the valet parking lot, which in the past was packed as well, was empty...literally empty.

When I was in the mall, there were a great number of people there, but hardly anyone had bags in their hands; they were all just hanging out.

It looked more like it was about seeing and being seen than it was about buying anything.
In ten years we'll look back on this moment, laugh nervously, and quickly change the subject.
tkwasny

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11/28/2009 09:26 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
If Walmart had 18-wheelers full of those $248 Emerson 32" HDTVs and forklifts/workers standing by they could have sold 5,000 units PER STORE easy. They'd still be sold out by 0500 when the sale was supposed to start.

What an incredible lost opportunity for quantity sales.



Did you miss out on one? You sound bitter.

For all we know that could have been a 'loss leader' for them.
 Quoting: Anonymous Coward 743646

I went in a Walmart in Manchester, CT at 1100 knowing they'd be sold out but I had some other junk to pick up. I hung out to get the stories from the staff explaining to the customers and talking amongst themselves. The staff was upset at all the lost opportunity and inability to provide for the customers (thousands they said). I do enjoy observing human sociology/psyche and will go out of my way to grab a front row seat. Never bitter over insignificant toys.
Anonymous Coward
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11/28/2009 09:26 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
You have to wonder, if Black Friday did so well this year, does that mean people did all or almost all of their shopping yesterday and this weekend, and won't do any more until the after Christmas sales?

At this point, for all we know, all this means is the rest of the season might be a bust.

But, I have no idea. As opposed to the experts, I'm readily willing to admit I'm full of shit. And, if it turns out I am...I apologize.
 Quoting: Art Deco



True for me, Art Deco!

Wiper blades for the car, socks, underwear, votive candles, and pair of new blue jeans is all St. Nick dropped off for me this year.



Any more available greenbacks are going to the Frieze Dried Guy...!!

Yes!!! He is back taking orders again...!!!

I'll just tell them the HAWK sent me, and I should get another 25% discount, at least...!!!
Anonymous Coward (OP)
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11/28/2009 09:35 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
HAWK ftw!
Anonymous Coward
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11/28/2009 09:39 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
lets see.


20% unemployment.


20% higher sales.


I call BS.


neener
Anonymous Coward
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11/28/2009 09:51 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
I wish that for just one Xmas, we would all NOT buy anything made in China. I made up my mind to do this and am not really having that much difficulty finding products (mostly American made): new golf cart, Kitchen Aid mixer, fruit and food boxes from catalogs, hand-carved wooden child's train set with animals, Legos...
anonymous
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11/28/2009 09:51 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
in hard times recycle some of your stuff as presents to others.. just shine it up or quick fresh coat of paint.. works great if money is tight .
bobnightman

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11/28/2009 09:52 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
If Walmart had 18-wheelers full of those $248 Emerson 32" HDTVs and forklifts/workers standing by they could have sold 5,000 units PER STORE easy. They'd still be sold out by 0500 when the sale was supposed to start.

What an incredible lost opportunity for quantity sales.
 Quoting: tkwasny

True I shoulda bought one
12/21/12
Anonymous Coward
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11/28/2009 09:52 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Gee, I hear the unnerving sound of the credit card bubble inflating just a little bit extra before the thunderous POP!

Not a chance the black Friday shoppers were spending surplus savings on meaningful goods.

Unsecured Credit Card Debt + Commercial Real estate bubble=

One heck of a Doom Boom!

Greenhorn

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11/28/2009 09:53 PM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Last year was BRUTAL for many ebay merchants.
Anonymous Coward
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11/29/2009 12:16 AM
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Re: Doom cancelled : Black Friday sales about 20% higher than last year
Well, they keep extending unemployment for us Americans. Of course, people are going to be spending money.