Monday, Nov 30th, 2009
American consumers shopped more for bargains at the start of the U.S. holiday season and spent significantly less than a year ago, according to early data released on Sunday.
Consumers said they will have spent nearly 8 percent less on average, or about $343 per person, over the weekend that includes U.S. Thanksgiving Day, Black Friday and runs through Sunday, according to the National Retail Federation.
While traffic to stores and retail websites rose to 195 million people from 172 million in 2008, the early data this weekend represents a worrisome sign for retailers, who had braced for weak sales and sought ways to protect margins.
Data released by ShopperTrak on Saturday showed that sales rose a scant 0.5 percent on Black Friday, which is often the single busiest day of the holiday shopping season.
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This article was posted: Monday, November 30, 2009 at 4:40 am