Sandbagging

Remember the doom and gloom the media was reporting about how bad the holiday shopping season might be? The dire warnings? The whole sky is falling routine? Well, not only were there shoppers on Black Friday, but those shoppers spent money. Rather a lot of it. $10.6 billion in sales yesterday alone – up about 3% from last year.

The nation’s retailers got a much-needed sales boost during Black Friday’s traditional shopathon as consumers spent more money than they did last year.

According to preliminary data released Saturday, sales on the day after Thanksgiving rose to $10.61 billion.

This is somewhat better than the retail industry’s own prediction of 2.2% growth for the entire period. Get the feeling you’re being sandbagged by the media and the retailers?

Retail is a brutally hard business these days. Local stores essentially have to compete in a global market – tough for the large operators, brutal for the smaller ones. Even so, the retailers appear to be on track to do substantially better than the media would have you believe.

So, ask yourself: What else is being misreported by the media? What else are they sandbagging you about? The economy? The election just completed? The environment? Global warming?

If you answered all of the above you’re on the right track.

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4 Responses to Sandbagging

  1. Mwalimu Daudi says:

    Ya gotta love this line from the al-AP link:

    Still, experts, who predict this year’s overall holiday shopping period will be the weakest in decades thanks to an overall contraction in spending, caution that this year’s sales growth may be hard to sustain.

    Ah, once again the ubiquitous (not to mention anonymous) “experts” tell us that up is down, good is evil, and black is whi-, ah, red. They got it totally wrong this year, but still al-AP has faith.

    Wanna bet that next year’s sales plummet, and al-AP comes out with a headline like this one: POST-THANKSGIVING SALES ACTIVITY EXCEEDS EXPERTS’ FORECAST

  2. Pingback: Don’t Push the Panic Button Yet. Black Friday Was A Good Friday. | The Sundries Shack

  3. Mwalimu Daudi says:

    al-AP still clings to hope that things will change:

    Online retailers are ramping up heavy-duty deals to turn skittish shoppers into buyers during the crucial Thanksgiving weekend and Cyber Monday — but even so, online sales are expected to be fairly flat after years of strong growth.

    The “experts” strike again! Today I bought something online from Amazon, so I suppose that makes me a “racist”, at least according to the Obamanation.

  4. Steev says:

    Perhaps all the folks that are no longer weighed down by a big mortgage (are now renters) have some spending $$$.

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