Less spent on US Black Fri­day

The Myanmar Times - - Business -

THE Amer­i­can shop­ping con­sumer frenzy known as Black Fri­day lured more buy­ers this year but they spent less per per­son thanks to great bar­gains.

More than 154 mil­lion peo­ple made pur­chases dur­ing the four-day re­tail ex­trav­a­ganza that be­gan Novem­ber 24 on Thanks­giv­ing, com­pared to 151 mil­lion last year, the Na­tional Re­tail Fed­er­a­tion said.

Shoppers spent an av­er­age of US$289.19, com­pared to $299.60 in 2015.

Sales over the Thanks­giv­ing hol­i­day, which ex­tends into so-called Cy­ber Mon­day, are a good in­di­ca­tor of the health of US con­sumer spend­ing.

On­line sales dom­i­nated. A to­tal of 44 per­cent of those who took part in the NRF sur­vey said they had bought via the in­ter­net while 40pc went to a brick-and-mor­tar store.

“It was a strong week­end for re­tail­ers, but an even bet­ter week­end for con­sumers, who took ad­van­tage of some re­ally in­cred­i­ble deals,” NRF pres­i­dent Matthew Shay said.

The most pop­u­lar day to shop on­line was Black Fri­day it­self, the day af­ter the Thanks­giv­ing hol­i­day. Of those who pur­chased on­line over the four-day pe­riod, 74pc did so on Novem­ber 25, up 1.3pc from last year.

And of the peo­ple who went to ac­tual stores over this shop­ping pe­riod, 75pc did so on Black Fri­day, up 3.4pc from last year, the NRF said.

Mil­len­ni­als, aged 18-34, drove the in­crease in shop­ping, with eight out of 10 buy­ing some­thing over the long week­end.

Around 56pc of smart­phone own­ers and 53pc of tablet own­ers used these de­vices to as­sist with their shop­ping.

The study was car­ried out by Pros­per In­sights & An­a­lyt­ics with a sam­ple of 4330 peo­ple on Novem­ber 25-26 and has a mar­gin of er­ror of 1.5 per­cent­age points. –

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