US Retailers Report Only "Slight" Improvement in Sales Compared to Last Year
In a development which has worried sellers across the country, although US retailers and mall owners reported a rush of consumers and jam packed parking lots on Black Friday, actual sales had improved only "slightly" as compared to last year, and not as much as was being initially expected.
On Friday following Thanksgiving, retailers recorded nearly $10.66 Billion worth of sales, as has been revealed by a report shared on Saturday by the sales and traffic tracking company ShopperTrack.
Year-on-year regional Black Friday sales, according to the report, hiked by 4.7% in the West, 1.3% in the Midwest, 0.6% in the South, but ended up going down by 4.9% in the Northeast, where rain dampened the shopping spirits in many sections.
"With Black Friday's performance it looks like November will be a positive month for retailers compared to last year, which is an encouraging sign. Friday's relatively strong performance isn't always a bellwether for the entire season, but we believe the 1.6% increase we originally predicted for the holiday season remains intact", shared ShopperTrak Co-Founder Bill Martin.
Despite the disappointing figures, retailers are trying to stay optimistic, as major retail brands including Wal-Mart and JC Penny have reported that their Friday, and even Saturday, sales have been good and they are looking forward to a good Christmas season.
(via TopNews United States. Contributed by Harkamal Singh)