Are Black Friday Sales Figures Indicator of Increasing Consumer Confidence?
I know good news can sometimes be scary, so brace yourselves because according to a post in the New York Times, Black Friday is on an upswing
"The results released Thursday reinforced reports from Black Friday weekend showing consumers shopped, spent and are buying non-necessities again.
Sales at stores open at least a year--a crucial indicator known as same-store sales--rose an average of 6 percent, according to Thomson Reuters, well above the 2.6 percent that analysts had expected."
Oh, happy day! Analysts can be a pessimistic, grouchy bunch, so any time their expectations are pleasantly surprised I take it as double good news. Not to mention the key phrase, "consumers are buying non-necessities again!"
I couldn't be in a better mood!
We all like a great bargain on the things we use in our everyday lives, but when we can get a screamin' deal on the silly things we indulge in for fun like bejeweled cases for our iPod, a new Wii game or a vintage rock poster, well let's just say, life is good--relatively speaking.
Gauging retail sales against the loose definition of an economic healing is a tough one, but in a nation rocked by an average 12% unemployment rate, it is a small Band-Aid of optimism. That small dose of good news might just lead to even more good news as consumers become more and more confident. Hopefully, that optimism will lead to more donations to charities whose definition of "necessity buying" is vastly different than ours. After all, you can't give what you don't have--so the more we make the more we spend, thrive and build...the more we share. That's the idea, hopefully.
'Tis the season of giving and receiving, discounts and capitalism, but I am optimistic that necessity or non-necessity, retail on the upswing can definitely be considered good news.
Happy Holidays, everyone!