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Shoppers swarmed to Black Friday sales and retailers exuded a rare optimism, but retail spending...

Shoppers swarmed to Black Friday sales and retailers exuded a rare optimism, but retail spending rose only 0.3% from the previous year, to $10.69B from $10.66B, as a more discriminating public shopped more carefully for discounts and bought more goods online.
Comments (12)
  • Donald Ingram
    , contributor
    Comments (3481) | Send Message
     
    A positive three tenths of one percent YoY? This can be seen as nothing but number noise. A higher online participation means a higher usage of credit cards. Those with any available credit left tend to be the upper half of society who still have jobs. This is not a recovery in retail or the return of consumerism. What this is - is stagnation. Higher prices with flat to lower wages.
    28 Nov 2010, 10:37 AM Reply Like
  • This Game is so Rigged
    , contributor
    Comments (68) | Send Message
     
    Stagflation.
    28 Nov 2010, 12:08 PM Reply Like
  • Donald Ingram
    , contributor
    Comments (3481) | Send Message
     
    Yes. Stagflation. Thank you.
    28 Nov 2010, 03:39 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (6086) | Send Message
     
    these numbers aren't very reliable b/c they typically exclude wide areas of retail.
    28 Nov 2010, 07:05 PM Reply Like
  • bbro
    , contributor
    Comments (9621) | Send Message
     
    Could this mean a higher savings rate???
    28 Nov 2010, 10:50 AM Reply Like
  • dpilling
    , contributor
    Comments (74) | Send Message
     
    Sure it could. It could also mean that people are forgoing spending to pay down debt or that people don't have any money or... But all of those conclusions are so far removed from this data point that they are speculation.

     

    What it definitively means is that consumers aren't spending frivolously. Get ready for heavy discounting.
    28 Nov 2010, 01:11 PM Reply Like
  • mike8599
    , contributor
    Comments (587) | Send Message
     
    Online merchants saw a 16 percent revenue spike...

     

    PayPal reported an increase of about 27 percent in payment volume on Black Friday compared with last year.
    28 Nov 2010, 12:05 PM Reply Like
  • Duude
    , contributor
    Comments (3376) | Send Message
     
    Online spending seems to be walking away with an ever larger piece of the post-Thanksgiving pie each year. I wonder how long before indebted states try to rewrite sales tax laws potentially dooming Internet sales?
    28 Nov 2010, 03:51 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    Funny how bears spin everything as bad, I remember them telling the world,(at the start of the year) that consumer spending would be negative, consumer debt would be higher, etc...But the facts and the data is there: consumer spending is INCREASING, albeit slower that I prefer, consumer debt DECREASING...
    28 Nov 2010, 04:34 PM Reply Like
  • Cherry Picker
    , contributor
    Comments (383) | Send Message
     
    Wow! An increase in Black Friday sales is bad news. Forget the fact that the new Black Friday is Thanksgiving day and that retailers keep trying to beat each other to the punch by moving up sale dates. I'll be happy with slow steady improvement in the economy if we can get it. For those who insist that things are horrible and are bound to get even more horrible, there is no story that they can't spin in an attempt to prove their point. Slowing growth in China is awful, but if growth continued at its previous pace, China was due for a crash. Either way the gloom and doom crowd gets the headline it is looking for. The end is near.
    28 Nov 2010, 05:53 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    Cherry Picker, the bears are trying to spin all the news as bad, meanwhile stocks has posted one of the biggest bull market in history...They still don't know what hit them...LOL!
    28 Nov 2010, 07:14 PM Reply Like
  • User 281898
    , contributor
    Comments (46) | Send Message
     
    It means Americans are finally wising up and not wasting money on cheap Chinese made goods. Nice negative spin. Durrr.
    28 Nov 2010, 09:43 PM Reply Like
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