Black Friday Sales 6.6 Record
November 27, 2011 by staff
Consumers spent $11.4 billion, ShopperTrak said in a statement yesterday. Foot traffic rose 5.1 percent on Black Friday, according to the Chicago-based research firm.
“This is the largest year-over-year gain in ShopperTrak’s National Retail Sales Estimate for Black Friday since the 8.3 percent increase we saw between 2007 and 2006,” ShopperTrak founder Bill Martin said in the statement. “Still, it’s just one day. It remains to be seen whether consumers will sustain this behavior through the holiday shopping season.”
As many as 152 million people were expected to shop at stores and websites on Black Friday, up 10 percent from last year, the National Retail Federation said. The Washington-based NRF is scheduled to release Thanksgiving weekend sales today.
The brisk turnout came as retailers from Gap Inc. to Wal- Mart Stores Inc. to Toys “R” Us Inc. opened their doors earlier than ever. The expanded hours also spurred online sales, which gained 39 percent on Thanksgiving and 24 percent on Black Friday, according to International Business Machines Corp.’s Coremetrics. Black Friday is so named because many retailers are said to become profitable then.
Some shoppers planned to spend more this year because their employment prospects have improved.
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