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.