Black Friday Tidbits: Glass of Egg Nog Half Full
Reports about general retail over the long weekend were mixed. While many discounters, most
famously Wal-Mart, offered some items at prices so low people waited
many pre-dawn hours and nearly stampeded into the stores, some
retailers started sales earlier than usual--weeks before
Thanksgiving--and
may have sated some demand. In addition, it seemed that consumers
intent on taking advantage of the early-morning bargains barged by
other specialty stores, many of which didn't open until hours later.
Over the weekend, sales rose 22%, according to a National Retail Federation survey of consumers. ComScore Networks estimated that on Black Friday U.S. shoppers spent $305 million online, a similar 22% jump over a year ago, according to the Wall Street Journal. Today is expected to be one of the heaviest online shopping days of the year as employees return to work and wonder how to spend their time.
According to the New York Times, ShopperTrak, a national survey firm, said sales on Black Friday fell 0.9% to $8.01 billion. But Visa USA said use of its credit cards rose 13.9%. Wal-Mart, Toys R Us and J.C. Penney reported higher foot traffic last Friday than Black Friday a year ago.
Hot items included the expected laptops, flat-screen TVs and DVD players. Visa USA said that other hot categories were "books, music and videos." There is no must-have toy this year, giving opportunities to smaller stores. Jack Cohen, owner of four Pittsburgh, Pa., toy stores, told the Journal: "People come in and are open to suggestions."
At least one indicator for the Christmas season has improved slightly. Falling gasoline prices helped the University of Michigan's consumer sentiment index rise to 81.6 in November from 74.2 in October. But because of weaker job growth and a slowdown in the housing market, the index remains way off the 92.8 mark of last November.
Gift cards are becoming ever more popular, and some now offer recordable messages, blinking lights and customers' photographs, the Wall Street Journal reported. Gift card sales should be more than $55 billion this year and are estimated to reach $72.7 billion by 2008. The National Retail Federation estimates that the average U.S. shopper will spend $88 on gift cards this holiday season. (Incidentally the Journal noted that Borders and Barnes & Noble are adding cards depicting the lion Asian from the upcoming film version of The Chronicles of Narnia on some of their gift cards.)
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Among reports from bookstores around the country:
In Cambridge, Md., on the eastern shore, Michael Mitsak, owner of Never on Tuesday, told the Daily Banner that the store was busier on Black Friday than a year ago, in part because "the big stores have sales before Thanksgiving."
Adam Jones, manager of Inklings Bookstore in Yakima, Wash., told the Yakima Herald-Republic that the store had a busy Black Friday and that titles with Christmas themes were the biggest bestsellers.
A Barnes & Noble in Midland, Tex., drew larger crowds this Black Friday compared to last year, manager Aaron Sadeghzadeh said, according to the Midland Reporter-Telegram.
Mary Lou Wright, an owner of the Raven Bookstores in Lawrence, Kan., told the Lawrence Journal-World that the drop in gasoline prices in recent weeks was well-timed. She had "noticed a drop in our out-of-town customers" when prices had risen. "We really depend on out-of-town" customers, she said.
For at least one used bookstore, this is the season of the grinch. At the Book Rack, Fort Wayne, Ind., December is one of the store's two slow seasons, owner Art Tonsing told the Journal Gazette. The reason: "hard-core readers" turn their attention to shopping for gifts and participating in holiday traditions.
And by design one store had a non-Black Friday. According to the Raleigh News & Observer, the Internationalist Books & Community Center in Chapel Hill, N.C., celebrated Black Friday by honoring Buy Nothing Day, the anti-consumerist project that began 13 years ago in Canada and has spread around the world. The store had an afternoon of events, including a bookmaking workshop, free food and a community swap where people can bring gifts to exchange with others.
Over the weekend, sales rose 22%, according to a National Retail Federation survey of consumers. ComScore Networks estimated that on Black Friday U.S. shoppers spent $305 million online, a similar 22% jump over a year ago, according to the Wall Street Journal. Today is expected to be one of the heaviest online shopping days of the year as employees return to work and wonder how to spend their time.
According to the New York Times, ShopperTrak, a national survey firm, said sales on Black Friday fell 0.9% to $8.01 billion. But Visa USA said use of its credit cards rose 13.9%. Wal-Mart, Toys R Us and J.C. Penney reported higher foot traffic last Friday than Black Friday a year ago.
Hot items included the expected laptops, flat-screen TVs and DVD players. Visa USA said that other hot categories were "books, music and videos." There is no must-have toy this year, giving opportunities to smaller stores. Jack Cohen, owner of four Pittsburgh, Pa., toy stores, told the Journal: "People come in and are open to suggestions."
At least one indicator for the Christmas season has improved slightly. Falling gasoline prices helped the University of Michigan's consumer sentiment index rise to 81.6 in November from 74.2 in October. But because of weaker job growth and a slowdown in the housing market, the index remains way off the 92.8 mark of last November.
Gift cards are becoming ever more popular, and some now offer recordable messages, blinking lights and customers' photographs, the Wall Street Journal reported. Gift card sales should be more than $55 billion this year and are estimated to reach $72.7 billion by 2008. The National Retail Federation estimates that the average U.S. shopper will spend $88 on gift cards this holiday season. (Incidentally the Journal noted that Borders and Barnes & Noble are adding cards depicting the lion Asian from the upcoming film version of The Chronicles of Narnia on some of their gift cards.)
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Among reports from bookstores around the country:
In Cambridge, Md., on the eastern shore, Michael Mitsak, owner of Never on Tuesday, told the Daily Banner that the store was busier on Black Friday than a year ago, in part because "the big stores have sales before Thanksgiving."
Adam Jones, manager of Inklings Bookstore in Yakima, Wash., told the Yakima Herald-Republic that the store had a busy Black Friday and that titles with Christmas themes were the biggest bestsellers.
A Barnes & Noble in Midland, Tex., drew larger crowds this Black Friday compared to last year, manager Aaron Sadeghzadeh said, according to the Midland Reporter-Telegram.
Mary Lou Wright, an owner of the Raven Bookstores in Lawrence, Kan., told the Lawrence Journal-World that the drop in gasoline prices in recent weeks was well-timed. She had "noticed a drop in our out-of-town customers" when prices had risen. "We really depend on out-of-town" customers, she said.
For at least one used bookstore, this is the season of the grinch. At the Book Rack, Fort Wayne, Ind., December is one of the store's two slow seasons, owner Art Tonsing told the Journal Gazette. The reason: "hard-core readers" turn their attention to shopping for gifts and participating in holiday traditions.
And by design one store had a non-Black Friday. According to the Raleigh News & Observer, the Internationalist Books & Community Center in Chapel Hill, N.C., celebrated Black Friday by honoring Buy Nothing Day, the anti-consumerist project that began 13 years ago in Canada and has spread around the world. The store had an afternoon of events, including a bookmaking workshop, free food and a community swap where people can bring gifts to exchange with others.