Tuesday, November 29, 2011
In The Black
It turned out to be a very Black Friday this year. I can report a brisk return to holiday shopping and so far, I'm encouraged. Better than expected, and I'm happy to report that it seems to be trending all over the country. According to today's news, the reports are in and this could be a very merry Christmas for retailers. Wall Street is also happy. The Dow rallied 291 points yesterday and consumer confidence seems to be growing.
Much of this weekend's hype was created specifically by the media and the retailers to create a shopping frenzy, and it worked because sales are up. "Black Friday sales were unbelievably good-really solid," said John Herman of Boston-based State Street Global Markets.
Shoppers were bombarded with Black Friday images and ads on most all media outlets, begging some to ask the question, "am I missing out on something?"
The common denominator in all this is discounts. In order to survive, retailers must be competitive and offer substantial discounts to their customers. And we did. For me, this translated into more volume than last year. With American Express sponsored and advertised Small Business Saturday immediately following Black Friday, the weekend turned into a Black Business windfall for small retailers.
Yesterday's Cyber Monday's numbers are not in yet, but early projections speculate sales increasing form last year by 15% and this could all bode well for the economy to start out the 2012 New Year.
I'm hoping to ride this wave of consumer confidence. Keep shopping America, and keep shopping local.