According to the National Retail Federation (NRF) there isn't much to report just yet about Black Friday: it turns out no "preliminary" results will be released at all (they used that term mistakenly). But I did promise to follow up once the statement was made, so here it is.
NRF had previously projected that sales would rise 4% when compared to last year, for a total of US$474.5 billion, and is sticking with that estimated figure thus far. NRF spokesperson Scott Krugman tells me that final Black Friday results won't be released until Sunday, November 25.
For now, what we do know is that the best deals were found on electronics (especially flat-panel TVs), jewelry, clothing, and toys. But discounts were also being offered on small-ticket items that are ideal for gift-giving, like digital photo frames, hand mixers, and sterling silver jewelry.
"While many of these items will remain popular during the holiday season," said NRF President and CEO Tracy Mullin, "there is strong interest in them today simply because the prices are irresistible."
To pass up turkey and stuffing for long lines in freezing weather (especially in cities like New York where it felt like -2 at midnight!), the deals must be pretty darned irresistible, indeed!
In the online arena, NRF says that 72.2% of retailers plan a special promotion for what's known as "Cyber Monday", which is a drastic increase from the 42.7% just two short years ago.
Happy shopping to our neighbours to the south!
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