Bloomberg: Black Friday Spending Drop First Since 2009
Bloomberg reported that the first spending decline on a Black Friday weekend since 2009 reinforced projections for a lackluster holiday, increasing chances retailers will extend the deep discounts already hurting their profit margins.
Bloomberg said, according to a survey commissioned by the National Retail Federation, purchases at stores and websites fell 2.9% to $57.4 billion during the four days beginning with the November 28 Thanksgiving holiday.
Bloomberg noted that while 141 million people shopped, about 2 million more than last year, the average consumer’s spending dropped 3.9% to $407.02, the survey showed.
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