Customers may have been fighting each other over store sales this past weekend. But, they weren't spending as much. According to the National Retail Federation, Thanksgiving weekend store traffic was up 27% from last year. However, total sales were $57.4 billion, a drop of nearly 3% from 2012. So, should retailers be worried?
Maybe not, says CNBC contributor Andrew Busch, editor and publisher of The Busch Update.
The reason has to do with online sales. ComScore sees Black Friday's
online shopping up 15% compared to last year. And, while stores may have
opened earlier on Thanksgiving Day this year to compensate for the
shorter 2013 shopping season, online Thanksgiving shopping was up 21%
compared to last year. Shoppers may have avoided bedlam at the stores by
pointing-and-clicking at home.
Yup even though those stores were open at 6PM or midnight those people just rolled over after a turkey fueled slumber and got up late on Friday and logged onto Amazon. That is how Black Friday should go. I did some Black Friday browsing but didn't actually buy anything because the deal on Nexus 7s at Staples.com was sold out. If it was in stock I would have bought it for sure.
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