Bad news for anyone pinning their economic recovery hopes on Black Friday: Apparently, despite retailers’ best efforts to lure shoppers in, spending is down 11% from last year, according to Bloomberg. That would be roughly 6 million fewer customers this year vs. last. And all that after stores like K-Mart Black Friday-ed a day early,
forcing allowing their workers and shoppers to spend Thanksgiving together. Aw, how sweet. But perhaps next year people can just stay home with their families?
Consumer spending was down $7 billion dollars this weekend, and this is the second year in a row that holiday sales have failed to please less than eager crowds. The glum news isn’t over yet: Less-than-fantastic figures are also expected for Cyber Monday, thanks to retailers extending sales throughout the week.
We’re getting the feeling that folks are simply just all Black Friday-ed out.