Black Friday hits a record $11.4 Billion in sales this year

The Black Friday this year saw the busiest customer traffic in its 26-year history. According to several reports the Friday sales were a whopping 6.6% increase to last year’s sales on the same holiday.

In the US and all over Europe, one Friday is celebrated as the day of huge discounts. In the US, it comes prior to the Thanksgiving but the culture meme was inoculated into the Euro territory by the very presence of American conglomerates.

This year the Black Friday brought about $11.4 Billion in sales, that is 6.6 percent increase than last year. The main reason associated with the enumeration of high sales was the 9 percent decrease in unemployment in the US, thanks to Barack Obama’s new
policies to regenerate jobs in the country.

The highest increase in sales prior to 2011 season was recorded 8.8 percent in 2007 as compared to the preceding year.

There was approximately 5.1 percent increase in foot traffic to the brick and roof stores and it contributed almost 76 percent to the sales.

The relatively better economical conditions and better employment rate all partook in the increased sales this year.

Pam Jones, a 51-year-old mother of two from Columbus, Ohio planned on spending $1200 this Friday because she was employed at a local medical billing office. Due to high price tags, she could not spend much money on branded clothing as his youngest son is
becoming a brand-conscious-teenager.

More so, the online sales broke all the previous records. Amazon.com notched the highest sales mark of this year and remarkable increase as compared to last year.

In the conventional roofed stores, Macy, Inc. left behind all other competitors because of one reason, the chain opened up at 3:00 AM in the morning. Whereas, competitors like Walt Disney’s namesake chain of stores lagged behind one hour.

The likes of Walmart Stores Inc., Target Inc. and Gap Inc. all opened up at 4 in the morning but regardless of the timing overall all stores made exponential profits from the Black Friday.

The total profit gathered over the weekend willl be made public on Tuesday.

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Posted by Usman Khalid on Nov 28 2011. Filed under Business, Europe, USA. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry