Forum Post: Good News! Shopping data indicates economy is turning a corner.
Posted 12 years ago on Nov. 26, 2011, 4:43 p.m. EST by JoeTheFarmer
(2654)
This content is user submitted and not an official statement
Online sales jumped 24.3% this Black Friday, according to data from Coremetrics, reflecting heavy investment by mainline retailers to get more traction on the Web.
The results, based on real-time sales data from the websites of more than 500 U.S. retailers, follows a 39.3% increase in online sales Thanksgiving Day.
There was a a 48.8% gain in home goods and a 47.2% increase in apparel sales. Health and beauty sales increased 34.2%.
Macy’s Inc.’s CEO Terry Lundgren said he was struck by how many people in their 20s descended on the chain’s flagship store in Manhattan.
Black Friday may illustrate a gap between what consumers tell pollsters and how they actually behave.
I guess that Boycott Black Friday thing didn't work out for OWS? Wow this is one powerful movement....Not!
There were more shoppers at one mall in NJ than all of the Occupy folks globally. There are 47,000 indoor malls in the US and ten times and many outdoor malls. I would say that means only about 0.053% of the 99% are behind OWS.
Disinformation, all of it.
the Chinese corporations will be so happy. and the us credit card industry (banks) also.
I am not sure what percentage of products purchased were from China but I am sure a lot were.
I prefer to shop on Main street in the local shops. You have to be careful there too however as some small shops are filled with items from China.
I usually get a piece from a local artist for my wife. There are some things still made in the USA.
http://www.stillmadeinusa.com/
I found that site to be a good resource.
you are a good person- soon others in the us will follow your lead and buy only things made in America- first that will cause hardships for americans- but after the factory's in the us are restarted - it will cause a large increase in job.
You cannot see that it is consumerism that feeds the greed of Wall Street? Sir..if dog shit were brains you would be a genius.
I can see that but I still prefer an economy where people are spending and working.
Economy turning the corner?
You really think the 8 million plus unemployed people will go back to work now that one day has shown Americans are willing to spend money they really shouldn't?
It would be nice if some of them did. I can only hope.
Let's count the bankruptcies in a month or two, when the credit card bills come due. Seems like these journalists still don't have a clue.
I hope you are wrong.
Yes because everyone uses credit irresponsibly. I use my credit card for everything and have never paid a dime of interest.
You said"everyone". I pay no interest because I pay my bill in full,....every month.
I was being sarcastic. Edgewaters makes it sound like everyone shopping with a credit card this weekend can't afford it. I do the same, I use it for everything for the rewards.
Your anecdote doesn't change the national pattern. Surprise: not everyone is in the same situation you are. And I never said anything that made it sound like "everyone" is spending money they can't afford. Only that there are large numbers of people that are.
I mean how can you really feel so bad for someone who acts so stupid?
Economic reality has nothing to do with "feeling bad" or "they're stupid" or any of these things. Economists don't go "unemployment is rising, but the unemployed suck and I hate them and they make me feel all icky and mommy told me they were bad, so any legislative response would be unjustified".
I get money back.
Yea same here. I use it for all my business expenses too. People bash credit cards but they don't realize how much money you can save in the long run if used properly.
Here's a good one for ya. I have a bank rewards card that I use for all expenses, utilities, everything. My checking account with the same bank. It took a few calls to find the right person but I have it automatically set up to pay the balance in full each month automatically from my checking account. I'm on autopilot with cash back!
Don't be such a pessimist. You don’t know for sure that people are over extending. Anyway, if people have room on their credit cards, I would say that is also a good sign.
You're right, let's be faithful cheerleaders despite the obvious facts. That'll fix everything.
As much as I like to see good news, I also know that a lot of low income households shop early, and take advantage of the big sales and lay away. Can't help but wonder how many folks have "taken advantage" of the new Walmart credit card with 0% APR for 6 months. :/
How can you really feel bad for someone who acts so stupid?
Empathy.
I have empathy towards those who are sick, those who lose loved ones, those who lose their jobs, and lots of others. Not those that can't use a little common sense or basic math in their financial lives.
I agree. I think we would all like to see the economy and our fellow citizens' financial situation improve.
Sir, these are signs of crisis. People afford shopping when they believe prices are reduced, not when they need them. People are ready to go into queues and fight to reach to bargains. People spend more instead of saving since money can buy better today than tomorrow. I might be wrong if whatever I hear about credit crises are just plots. Until Chinese wages do not become as equal to the US workers’ Americans import from China. This is in first couple of pages of Paul Samuelson’s Economics textbook. After them India is in queue. Real crisis begins when all gets to the same level. Hence, some of them always should be kept behind to be employed. Therefore, US army should keep those people back in stone age. Thus should spend more for army, less for people. It needs to print money for those expenses: perpetual war and moving from crisis to next crisis, more fractured society. More people should be bought. Cheaper products should become available for American consumers …
I hope you are wrong and it is a sign of better days ahead.
US is the flag bearer of present human civilisation. If I be right that continues to be.