November 28, 2012

Spending Soars This Black Friday

While the jury is still out for Black Friday’s cousin, Cyber Monday, the numbers for Black Friday were through the roof. Recession resmession, it seems we’ve got plenty of money to spend.

Tons of folks, still stuffed from turkey and fixin’s, hit the streets to get their Christmas wish lists knocked out. I was one of them.

My wife asked me to join her on Friday to battle the crowds, and I reluctantly obliged. See, my plan was to embrace the oceans of humanity and just endure the misery to save a few bucks with the hopes that the experience would be so terrible that we’d never have to do it again. Well, my plan backfired. It really wasn’t that bad.  (I’m still not sure if that’s completely good or not.) We did some waiting and had to fight some crowds, of course, but it wasn’t serious enough to keep us from doing it again next year.

Some folks aren’t as brave though. It’s much easier to stay at home and do the shopping; just let your fingers do the walking.

Online shopping is always better as long as you don’t have to try on the goods. Shoes, clothing, and other things of the sort are normally better purchased in a brick and mortar store, but toys, electronics, and just about everything else is better to shop for online, in my opinion anyhow.

Generally the online deals start on the Monday following Black Friday, but I have a feeling with the most recent numbers, that may be soon to change.

There are no lines, the prices are generally a little lower, and the selection is only limited by your Google searching abilities. I’d call that a win win.

Check out the stats: online shoppers in the United States will spend $226 billion this year and spent $202 billion in 2011. There’s quite a bit of people who agree with me, to say the least.

Bargain hunting Christmas shoppers spent $1.042 billion online this Black Friday, a 26 percent increase of last year’s Black Friday, according to new figures released today by market analyst ComScore. Online shopping on Thanksgiving Day also soared, totaling $633 million in purchases, a 32 percent increase over Thanksgiving last year.

That’s an enormous increase.

I’m anticipating the numbers from Cyber Monday. I wonder if anybody’s even got any money left after all of this spending through Thanksgiving and Black Friday, but ComScore is predicting an increase.

Many folks are taking their Christmas wish lists to the office with them to shop in their spare moments, so we can probably expect a few more packages on the door step and a few less Facebook posts about that jerk of a boss or that lazy coworker.

Sales of apparel and electronics still top the charts online as well as in stores, a trend that’s also expected to continue.

Cyber Monday sales should be approaching $1.5 billion or more, a forecast that surpasses the $1.25 billion consumers spent online last year. Online shopping for the first 23 days of November charted $13.7 billion in sales, a 16 percent rise over last year, according to ComScore.

So, we’re in a recession, but we’re spending anywhere from 10-60 percent more than last year? That sounds about as ironic as the legalization of weed along side the news of Hostess going out of business.

Image Credit: Nata-Lia / Shutterstock

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