Thanksgiving Weekend Sales Increase to Record $52.4 Billion

In Fashion Law, Legal News by FASHIONENTLAW™

“(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

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