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Nov 28

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Black Friday Weekend: A Great Success

Sales are up from last year’s Black Friday weekend, 13% up to be exact. While not as large an increase as last year’s 16% growth over 2010, it is a strong start to the shopping season.  Even though Cyber Monday’s sales are not considered in this amount, this weekend boasts the most online sales ever, for the first time topping $1 billion on Black Friday alone. This is most likely due to the rolling out of deals online by major retailers offering the same door buster deals to those who would rather shop from the comfort of their own home. With Wal-Mart and Target putting the same savings online, the amount of people willing to purchase on Black Friday was significantly expanded. Some say this was a great idea to target those who would not otherwise fight through long lines and the cold night to get the deals in the late hours of Thanksgiving and the early hours of Black Friday, while others suggest it may have cannibalized customers from the brick and mortar stores. The overall increase in sales points to the former position and hopefully means that the 6% increase in average per person spending seen this weekend ($423 from $398 last year) will continue throughout the holiday season.

About the author

Richard Russell

Richard is a Consultant at Fulcrum Inquiry, an accounting and economics consulting firm that performs economic damages analysis involving commercial litigation, financial investigations, business valuations, and forensic accounting.

Permanent link to this article: http://betweenthenumbers.net/2012/11/black-friday-weekend-a-great-success/

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