Tags: black friday | sales | drop | 2014

Black Friday Sales Drop: Early Deals, Internet Bargains Affect Spending

Image: Black Friday Sales Drop: Early Deals, Internet Bargains Affect Spending
Black Friday shoppers move up and down an escalator at the Westfield Garden State Plaza in Paramus, New Jersey, November 28, 2014. (Tony Kurdzuk/North Jersey/Landov)  

By    |   Tuesday, 02 Dec 2014 01:58 PM

Black Friday sales dropped this year as compared to last year.

The number of people shopping from Thanksgiving Day through Sunday fell by 5.2 percent — 133.7 million holiday shoppers in 2014 compared to the 141.1 million that came out in 2013, according to the National Retail Federation's Thanksgiving Weekend Spending Survey.

Black Friday spending also was down about 6.4 percent, with the average shopper spending $380.95 during the holiday weekend compared to last year's $407.02.

Analysts attributed the decline to earlier promotions and sales, which began as early as October, the Los Angeles Times reported.

"With the Internet open 24/7, that's taken some of the luster off of Black Friday," Charles O'Shea, an analyst at Moody's Investors Service, said, according to the Times. "It's not make or break anymore."

Spending on Thanksgiving Day was up about 24 percent, CNN Money reported.

"We've seen an increase in Thanksgiving shopping over the past few years at the expense of Black Friday," Bill Martin, of retail analyst Shoppertrak, said.

Shoppers can expect to see more sales throughout the holiday season, according to Inc. In fact, the NRF is predicting a 4.1 percent increase in sales.

"Every day will be Black Friday. Every minute will be Cyber Monday," NRF CEO Matt Shay said, according to Inc.

Sales of consumer electronics were strong, with 45 percent of shoppers — or 51.2 million adults — buying or planning to buy electronics during the Thanksgiving weekend. That figure marked the highest percentage in the last three years, according to a news release from the Consumer Electronics Association.

"Only clothing, at 69 percent, was more popular among consumers; and toys were again third, at 43 percent. This shows tech is poised to enjoy strong sales throughout the entire 2014 holiday season," CEA's chief economist Shawn DuBravac said in a statement.

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Black Friday sales dropped this year as compared to last year.
black friday, sales, drop, 2014
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2014-58-02
Tuesday, 02 Dec 2014 01:58 PM
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