Black Friday sales fall as Americans spend more online

News

Courtesy of CBS News

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

WASHINGTON — The figures for Black Friday showed consumers would rather shop online that stand in line, reported the Associated Press.

Sales reportedly feel to $10.4 billion, down from $11.6 billion this time last year.

Research firm ShopperTrak found even the turnout for Thanksgiving was lower than what it was a year ago.

Retail stores made over $2 billion on turkey day in 2014.

This year, that number fell to $1.8 billion.

ShopperTrak suggested the main reason was a little thing every American has in their hands: a smartphone.

Online shopping has become an easier alternative than hitting the stores, since deals can be used through an iPad, smartphone or other tools that connect to the internet.

Christ Christopher, the director of consumer economics at IHS, told the Associated Press he expected online sales to jump more than 11.7% this year, equaling out to approximately $95 billion.

In addition, retailers have been starting to offer significant deals and sales as early as the beginning of November, meaning people don’t have to necessarily get out on Black Friday to snag a good deal.

However, that doesn’t mean the holiday shopping season is going to be a dud for stores across the nation.

In fact, the Associated Press reported experts expect holiday sales to grow stronger as we get further into the season.

So much so that it beats last year’s growth.

“There’s a lot of strength in the consumer,” said Bill Martin, the co-founder of ShopperTrak.

He pointed to the fact more Americans are seeing an increase in pay, hiring has been strong this year, and lower gases prices mean more money in everyone’s pockets.

 

Latest News

More News