Now I know people will say “I saw pictures of people standing in line at 4am” and that is true, I’ve seen the pictures as well however going to the store and leaving money at the cash register are two different things. I would attribute the crowded stores to several things.
1. People go who ordinarily wouldn’t because they want to make there dollars go as far as possible.
2. Some people (women) go because it is a tradition and although they might be broke this year they still go in case they see an incredible sale.
3. People go to find sales and strike out.
Whatever the case the numbers speak for themselves.
Gallup’s Thanksgiving week results tend to confirm fears of a weak holiday sales season as consumer spending was unchanged from the prior week, even though it included Friday and Saturday of the Black Friday weekend. At the same time, Gallup’s Economic Confidence Index and its Job Creation Index were essentially unchanged from the prior week. A rather gloomy consumer mood and consumer spending — trailing last year’s financial crisis-depressed comparables by 25% — may not be unexpected, but are surely a disappointing way to start the Christmas sales season for the nation’s retailers.
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