Black Friday weekend - complete success for many retailers

26 Nov '07

3 min read

If there were any doubts that consumers would be shopping in full force over Black Friday, they have finally been put to rest. According to the National Retail Federation's 2007 Black Friday Weekend Survey, conducted by BIGresearch, more than 147 million shoppers hit the stores on Black Friday weekend, up a solid 4.8 percent from last year.

Consumers spent an average of $347.44, down 3.5 percent from last year, but still up an incredibly strong 14.8 percent from 2005. Retailers made up for the lower average expenditure with increased traffic.

"While last year showed a greater emphasis on high-definition televisions, this year consumers were focused on lower priced doorbusters like digital photo frames, laptops and cashmere sweaters," said NRF President and CEO Tracy Mullin.

"Though Black Friday weekend was a complete success for many retailers, the results of the holiday season won't be determined until the last two weeks of December."

Black Friday was marked with retailers opening their doors earlier than ever, with some choosing to start their sales as early as midnight. This strategy appeared to pay off as 14.3 percent of consumers were out shopping before 4:00 AM, compared to 12.4 percent last year.

Men once again proved to be the better Black Friday customer. With a greater emphasis on door-buster specials in the consumer electronics category, men outspent women $393.63 to $303.95.

"Knowing that consumers would be challenged by the current economic environment, retailers hoped that higher traffic would offset lower individual spending, which it did," said Phil Rist, Vice President of Strategy for BIGresearch. "With consumers expecting retailers to be more promotional on Cyber Monday, the holiday season is off to a good start."

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