Thanksgiving Turkey

Thanksgiving Weekend Sales Increase to Record $52.4 Billion

In Fashion Law, Legal News by FASHIONENTLAW™

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“(Bloomberg) — U.S. retail sales during Thanksgiving weekend climbed 16 percent to a record, as shoppers flocked to stores earlier and spent more, according to the National Retail Federation.

Sales totaled $52.4 billion, and the average shopper spent $398.62 over the holiday weekend, up from $365.34 a year earlier, the Washington-based trade group said in a statement today, citing a survey conducted by BIGresearch. More than a third of that — an average of $150.53 — was spent online.

Many retailers opened on Thanksgiving this year to lock in sales from consumers still leery about spending amid 9 percent unemployment, a sluggish housing market and slower third-quarter economic growth than previously estimated. The number of people shopping during the Thanksgiving Day weekend rose to a record 226 million, up from 212 million last year, the NRF said.

Toys “R” Us, for example, opened at 9 p.m. on Thanksgiving and started importuning shoppers a month before with circulars and emails, the earliest ever according to chief executive officer Gerald Storch. Deals included half off board games, with titles such as Candyland selling for $5.

More than half of shoppers bought clothing, the most popular category, followed by electronics. . .”

Bloomberg.com has the full story.

Photocredit: Heydoyou.com

Uduak Oduok (Ms. Uduak) is a Partner and Co-Founder of Ebitu Law Group, P.C. where she handles her firm’s fashion and entertainment law practice areas. Ms. Uduak has litigated a wide variety of cases in California courts. She has also handled a variety of entertainment deals for clients including network television and licensing deals. Her work and contributions to the creative industry has been recognized by numerous organizations including the National Bar Association, and featured in prestigious legal publications in the USA: ABA Journal and The California Lawyer Magazine. She is also the author of Fashionentlaw™ and also has over two decades combined hands on industry experience in the creative industry which includes modeling, retail, fashion production, public relations, digital media, journalism and publishing. For further inquiries or if you are seeking legal representation, please email (uduak@ebitulawgrp.com). You may also follow her on twitter at @uduaklaw

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