Consumers Splurge on Black Friday
November 29, 2010,
WASHINGTON--Black Friday 2010 registered as a major positive event for U.S. retailers, judging from the numbers in a survey conducted by the National Retail Federation.
U.S. shoppers spent an estimated $45 billion during this year's Black Friday, up 9 percent from Black Friday 2009. They also spent more per shopper--9.3 percent more-to $365.34, according to the survey.
NRF said the latter number was particularly encouraging for the stores, indicating that more consumers boosted their purchases of discretionary items and were looking for good values as opposed to the absolute lowest prices. Underscoring this point, the survey uncovered increases in traffic at department stores and clothing stores, along with traffic declines at discounters.
About 212 million consumers visited stores and websites during the weekend, an increase of 8.7 percent over last year. For today's Cyber Monday, NRF estimated that about 106 million consumers will go online for holiday purchases. In addition, the association said the number of people who will use a mobile device for their Cyber Monday shopping will more than double those who used one on last year's Cyber Monday.