Not Good News
Bargains proved to be the key to luring shoppers into stores over the Black Friday weekend.
According to a survey by the National Retail Federation, 195 million shoppers visited stores and websites over the holiday weekend. The number is up 13.4 percent from last year’s 172 million shoppers.
But while the number of shoppers was up, average spending was down over last year. It’s estimated that dollars spent per person dropped 17 percent from a year ago’s $372.56 to $343.31.
- U.S. consumers spent significantly less per person at the start of the holiday season this weekend, dimming hopes for a retail comeback that would help propel the economy early in 2010.
The lackluster spending could pressure retail stocks on Monday as some investors were looking for a stronger showing compared with a year earlier, when consumers were being hammered by the recession and credit crunch.
And Obama wants to nationalize one-seventh of the national economy after spending almost $2 trillion dollars in 10 months?
Labels: money questions
posted by SCC at 12:04 AM
23 Comments:
what did you expect, it's all George Bush's fault, of course.
In a matter of 2 hours,I've done all of my Christmas shopping on
the internet for a multitude of family members and grandchildren.
All of the presents will be at my
house within 2 weekks already giftwrapped.I did'nt have to stand
in line,nor drive around looking
for a parking space in some mall.
Plus I got my items cheaper,and without paying the Illinois taxes.
Life is good!
Retired.............and loving it.
It's only bad news if you want the market to go higher. I'm short the market and will remain so, I like that folks are spending less. SELL SELL SELL the market down..........weeeeeeeeeeeeeeeeeee
They have to factor in that many people, myself included, shop online now. Who wants to be trampled by a pack of idiots for the chance to save a buck? Speaking of trampling, I didn't hear any news stories this year of Black Friday deaths. Anyone?
The only thing my family is buying this year is ammo, canned goods, and gasoline for the generator.
Stock up on ammo folks, they're getting ready to make their move against sales.
I cut way back this year, after cutting way back last year too. Finished all Xmas shopping this morning on-line.
Tremendous savings! Bought from retailers in TX, VA, MN, SC.
ZERO revenue for the Cook/Chicago Outfit.
Fuck us? FUCK THEM!
The sales were crap except for maybe some tv's, dvd's, etc.
If you looked at the ads, the doorbuster prices weren't really cheaper then the normal prices.
I was unimpressed by the things that were in the black friday ads. none of them made me want to go stand in line in the cold for 3 or 4 hours.
Did pick up some stuff later in the day.
Anonymous said...
The only thing my family is buying this year is ammo, canned goods, and gasoline for the generator.
Stock up on ammo folks, they're getting ready to make their move against sales.
11/30/2009 05:40:00 AM
outlaw ammo and there will be a REAL AMERICAN REVOLUTION!
not some silly bullshit like the tea party protesters
Shortshanks isn't looking to well lately, as he drags the city to new lows he probably had a brief thought of all the revenue from this shopping season and the high taxes would help fill the coffers.... but I guess he never could get beyond himself, things like collar counties and the internet... "Bah Humbug..."
It's all in how you present it. Do the math. Overall spending actually increased $2.9 million.
i did a lot of shopping on line.
FREE delivery!
NO taxes!
hopefully this will make up for some of my furlough days, shut down days, and no paid holidays.
fuck you mayor daley and your band of thieves.
So, good for those who shop online. And a very sad commentary on those who are working in these stores to support families. No or low sales and the stores cut back on hours, or jobs entirely. Minimal pay and fewer and fewer hours...but it is a job and every penny counts. Many senior citizens make if from week to week by working in retail. Painful losses for those of us who can't afford to lose a penny more.
The Sun Times reporter can't even do simple math on a calculator.
Even if you accept the numbers she quoted the drop was 7.8%.
Since when is 343 a 17 percent drop from 372?
Maybe I'm missing something and this is like the magical city budget.
In any case more reputable sources put total spending at basically flat from last year.
http://meganmcardle.theatlantic.com/archives/2009/11/black_friday_points_to_a_grim.php
What do you expect when our president False-Face obama hasn't created any jobs, raised unemployment, and de-valued the U.S. dollar, among other things.
We helped the economy yesterday when my lovely wife bought my Christmas present at Walmart, a Ruger Mini-14 Ranch Rifle. My younger daughter is also stimulating the economy by buying me 20-round magazines.
Hey! We do our part!
ECS
I bought a kick ass olive concealment vest from sportsmansguide for only 49.00
holds 6 magazines and holds my glock 23 in a great gun pocket! Best part the vest is loaded with pockets and doesnt scream "im the Police" I have not been this happy in a long time!! Im ready for the revolt! YEEEEHAAAHHH
Spending for cyberMonday is estimated to be up 20% over last year.
Stores are touting sales with "56" PLASMA HDTV ONLY $199.95" -- the fine print says "only three per store. They're "derivative" models, too, with less resolution and fewer features than the real thing.
What do they wanna sell this year? Gift cards. No heavy boxes of inventory like washers and dryers to get stuck with, and of course they gamble on the customer not redeeming the card -- like the "rebate" scam.
"The only thing my family is buying this year is ammo, canned goods, and gasoline for the generator."
--11/30/2009 05:40:00 AM
Amen. Screw "gift shopping." I'm sick of asking twentysomethings at, say, Target ANY question -- not ONE of them ever seems to get it right, even on store policy when you ask three or four of them. Way cool stud in nose, diamond in ear, nothing upstairs -- and those are the young, white "supervisors." I am seeing fewer seniors this year -- almost all checkout help is F/1. Don't need stupid mistakes and arguments. Money stays in pocket. There.
By the way -- the bastards shrunk the ice cream again. Overnight, ALL brands in the freezer case at one store I go to went from 1.75 quart to 1.5 quart at the same price. No collusion here. Used to be a half-gallon -- and coffee came in one-, two- and three-pound cans that contained mainly coffee, not air. Et cetera.
Jewel got too loud and nasty for me...so I bought everything for Thanksgiving somewhere else without the slightest trouble. Real fresh turkey too, not "injected with 18% solution of this-and-that."
Since you people are making simple retail shopping an adversary relationship, a mere grab-the-money experience -- f**k you too.
In other news -- something like 21% of the homes in Chicago are "underwater" -- the mortgage on them is for more than they are worth now. That's something like 365,000 residences...
...and to all a good night.
Since you people are making simple retail shopping an adversary relationship, a mere grab-the-money experience -- f**k you too.
----------------
I take shit when I earn my money, I won't take shit when I spend my money.
Fuck people over with unnecessary taxes and this is what happens. When will people (companies, governments) understand that you can only push people so far before they find other ways to save money?
"I take shit when I earn my money, I won't take shit when I spend my money."
--12/01/2009 07:40:00 PM
Since the retail paradigm has shifted -- since huge stores are really obviously no longer interested in sales, but merely in customer compliance with "store policy" and rules -- one should not be squeamish about leaving one's entire order on the belt and walking away at the slightest error or offense. There is someone else right around the corner selling exactly the same thing.
You leave merchandise laying around on the floor, I step on the motherf**ker. Crunch. Right in front of literally five employees standing there passing the time of day -- they don't care, I don't care.
New rules. The conglomerates can't cancel the social contract for themselves while expecting me to act as though it still exists. All "gift card" and "rebate" scams, trick rules about returning things, receipts that "expire," do-nothing "sponge listening" at the "customer service" desk, and endless "accidental" overrings that are ALWAYS, EVERYWHERE, WITHOUT FAIL in favor of the store.
Since no one wears themselves out at a furnace or lathe making anything anymore, thinking up little deceptions and dodges is about all that's left. "Half price," "buy one, get one free," and "two for the price of one" all meaning different things...
How I hate what this country has become.
"Since the retail paradigm has shifted -- since huge stores are really obviously no longer interested in sales, but merely in customer compliance with "store policy' and rules..."
--12/01/2009 10:23:00 PM
My standard for comparison? Marshall Field's ca. 1955, especially at Christmas, was quite simply the best of everything, anywhere -- the ultimate quiet, solid, dignified "class act," right along with Carson Pirie Scott and the other fine downtown retailers, including "Camera Row" and the real Abercrombie and Fitch (which did NOT sell stupid T-shirts. If you remember what "VL&A" meant, you're in) -- a place that would actually rather insist upon handing a Colt/Sauer .458 Winchester Magnum bolt-action over the counter for a gentleman's appraisal, right there on Wabash Avenue. Eff-oh-eye-what card?
Today? The last K-Mart I was in looked like it was "de-inventorying" -- fewer Chinese-made items on the racks, and the racks farther apart. You know, like the way a Wolf Camera or a Kricket cell-phone outlet, with about three actual items to sell, spreads things out to fill the whole storefront. It's enough to make a cat laugh.
I feel sorry for younger people. They really, honestly don't know what they missed.
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