DeAnne
Mike CrowlHOLIDAY SHOPPING SEASON STARTS WITH A BANG (LINK)
November 25th 2007 08:23
Black Friday Sales Total 10.3Billion, Up a Strong 8.3 Percent as Compared to 2006
CHICAGO - November 24, 2007 - While economists have been prognosticating holiday sales Armageddon, ShopperTrak RCT Corporation's National Retail Sales Estimate (NRSE) today reported that the 2007 holiday retail season got off to a very strong start as compared to 2006 with the season's first major shopping day, Black Friday, increasing a healthy 8.3 percent - initially meeting the company's prediction of the season's best performing day. Preliminary sales estimated at a daily rate for Black Friday totaled $10.3 billion or $10,295 million.
Although Black Friday isn't traditionally a bellwether for the entire holiday season, consumers remained resilient and proved they were willing to spend despite rising oil prices and other economic pressures - which should have retailers feeling very optimistic as the holiday shopping season begins. As expected, consumers reacted positively to early advertised door buster sales and early morning openings to boost the Black Friday sales figure, which typically accounts for between 4.5 and 5.0 percent of all holiday sales. In 2006, Black Friday was the highest sales day and traffic day for the season and has been either the second or third busiest day in years past.
"We anticipated that the 2007 trend would continue and consumers would be willing to spend despite all of the economic pressures we've been hearing about heading into the season," said Bill Martin, co-founder of ShopperTrak. "Although retailers need to remain cautious, the Black Friday outpouring should have them breathing a sigh of relief and they will be paying close attention to see if consumers continue this strong shopping pace throughout the holiday season."
Developed by ShopperTrak, the NRSE provides a nationwide benchmark of retail sales. It is derived from the U.S. Commerce Department's GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) statistic, as well as ShopperTrak's proprietary industry intelligence on shopper movement and sales statistics. This gives retailers, investors and policy makers the most accurate and timely information on consumer trends available today.
A privately held entity, ShopperTrak leverages 20 years of retail expertise to be the industry's authority for information and analysis of the movement of shoppers in retail environments. ShopperTrak's cutting-edge shopper tracking products and indices offer retail intelligence solutions that enable companies to better understand retail trends and the impact of store and staff performance on company revenues. With more than 50,000,000 units installed in the world's best known retail outlets and malls, the company's solutions also provide a proven means for retailers to gauge labor efficiencies, advertising and marketing efforts, store design and remodeling programs, merchandise changes, associate training programs, and other budget-intensive strategic initiatives. For more information visit http://www.shoppertrak.com.
CHICAGO - November 24, 2007 - While economists have been prognosticating holiday sales Armageddon, ShopperTrak RCT Corporation's National Retail Sales Estimate (NRSE) today reported that the 2007 holiday retail season got off to a very strong start as compared to 2006 with the season's first major shopping day, Black Friday, increasing a healthy 8.3 percent - initially meeting the company's prediction of the season's best performing day. Preliminary sales estimated at a daily rate for Black Friday totaled $10.3 billion or $10,295 million.
Although Black Friday isn't traditionally a bellwether for the entire holiday season, consumers remained resilient and proved they were willing to spend despite rising oil prices and other economic pressures - which should have retailers feeling very optimistic as the holiday shopping season begins. As expected, consumers reacted positively to early advertised door buster sales and early morning openings to boost the Black Friday sales figure, which typically accounts for between 4.5 and 5.0 percent of all holiday sales. In 2006, Black Friday was the highest sales day and traffic day for the season and has been either the second or third busiest day in years past.
"We anticipated that the 2007 trend would continue and consumers would be willing to spend despite all of the economic pressures we've been hearing about heading into the season," said Bill Martin, co-founder of ShopperTrak. "Although retailers need to remain cautious, the Black Friday outpouring should have them breathing a sigh of relief and they will be paying close attention to see if consumers continue this strong shopping pace throughout the holiday season."
Developed by ShopperTrak, the NRSE provides a nationwide benchmark of retail sales. It is derived from the U.S. Commerce Department's GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) statistic, as well as ShopperTrak's proprietary industry intelligence on shopper movement and sales statistics. This gives retailers, investors and policy makers the most accurate and timely information on consumer trends available today.
A privately held entity, ShopperTrak leverages 20 years of retail expertise to be the industry's authority for information and analysis of the movement of shoppers in retail environments. ShopperTrak's cutting-edge shopper tracking products and indices offer retail intelligence solutions that enable companies to better understand retail trends and the impact of store and staff performance on company revenues. With more than 50,000,000 units installed in the world's best known retail outlets and malls, the company's solutions also provide a proven means for retailers to gauge labor efficiencies, advertising and marketing efforts, store design and remodeling programs, merchandise changes, associate training programs, and other budget-intensive strategic initiatives. For more information visit http://www.shoppertrak.com.
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