Tis the season

30 Nov

The Christmas season is always one in which consumers are slightly more apt to open their wallets and checkbooks. It’s the season of giving despite the recession. And this was clearly depicted by the latest update in the Consumer Confidence Index. It reached a four month high in November at 56. This is the biggest jump since April of 2003. Consumers reported a more optimistic outlook on the current conditions and the short term outlook on businesses, jobs, and income. The biggest shopping day of the year, Black Friday, was a success. The weekend brought in $52.4 billion. A record breaking 226 million shoppers shopped online or in store throughout the weekend following Thanksgiving. Cyber Monday was a huge hit. This year’s Cyber Monday was the biggest in the history of ecommerce ringing in a whopping $1.25 billion. The second time ever that ecommerce has broken $1 billion in just one day. It greatly passed up the experts’ predictions. Maybe the sales can be attributed to people saving up and waiting for the good deals to make spending worth it. Or maybe consumers are really feeling more positive about the outlook of the economy. Maybe the end of the recession is in sight. Maybe people want to get their Christmas shopping done early. Or maybe it was the less than wintery weather that induced consumers to come out of the woodworks and out into the malls. Whatever the cause was, retailers aren’t complaining and neither are consumers. Shop on.

 

K.F

 

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