The holiday shopping season got off to a strong start on Black Friday, with U.S. retail sales up 7% over last year, according to the most recent survey. Now stores just have to keep buyers coming back without the promise of door-buster savings.
Buyers spent $11.4 billion at retail stores and malls, up nearly $1 billion from last year, according to a Saturday report from ShopperTrak. It was the largest amount ever spent on the day after the Thanksgiving holiday that marks the beginning of the holiday shopping season, and the biggest year-over-year increase since 2007. Chicago-based ShopperTrak gathers data from 25,000 outlets across the U.S., including individual stores and shopping centres.
The Mall of America in Bloomington, Minnesota, broke its Black Friday record for shoppers, thanks to a decision to open at midnight for the first time. Around 210,000 visitors came to the mall on Friday, up from 200,000 last year, according to mall spokeswoman Bridget Jewell.
Online shopping was strong as well, with a 24.3% increase in online spending on Black Friday, according to IBM, which tracks sales at 500 online retailers.
Thanksgiving weekend, particularly Black Friday, is huge for retailers. Over the past six years, Black Friday was the biggest sales day of the year, and it is expected to keep that crown this year, though shoppers seem to be procrastinating more every year and the fate of the holiday season is increasingly coming down to the last few days before Christmas.
Last year, the Thanksgiving shopping weekend accounted for 12.1% of overall holiday sales. Black Friday made up about half of that.
