Early Retail Promotions Take a Bite Out of Thanksgiving Weekend Retail Sales - East Idaho News
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Early Retail Promotions Take a Bite Out of Thanksgiving Weekend Retail Sales

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getty 120114 holidayshoppers?  SQUARESPACE CACHEVERSION=1417439847134Michael Nagle/Getty Images(WASHINGTON) — Retail spending over the Thanksgiving weekend fell more than ten percent from a year ago, according to an industry trade group, and retailers — the people most interested in strong sales — are probably partly responsible for the decline.

Total spending from Thursday through Sunday dropped 11 percent from a year ago, to $50.9 billion, according to a survey commissioned by the National Retail Federation.  

The NRF said shoppers spent an average of $380.95 over the holiday weekend, down 6.4 percent from 2013.  The survey involved 4,631 consumers and was conducted on Friday and Saturday.

Retail experts note that the decline, the second annual drop in a row, was partly the result of retailers offering bargains in the days and even weeks before the Thanksgiving holiday weekend.  Many shoppers were able to grab deals without having to face the lines and crowds that traditionally occur on Black Friday.

Walmart and Target were just two of the many retailers that began offering holiday and Black Friday deals weeks before Thanksgiving.

The National Retail Federation said the number of people who went shopping over the four-day weekend declined 5.2 percent from last year, to 134 million.

Online shopping over the holiday also dropped this year.  The retail trade group said online shopping accounted for 42 percent of spending over the four-day holiday period, down from 44 percent last year. The NRF said consumers spent on average $159.55 online, down ten percent from a year ago.

Many retailers offered the same discounts on the Web as they offered in stores.  Rolling discounts and online promotions like free shipping and price-matching allowed shoppers to get Black Friday-type discounts throughout the month without leaving home.

The trend of shoppers taking advantage of earlier and longer promotions this season should continue on Cyber Monday. The National Retail Federation expects about 127 million people to shop online Monday, down from about 131 million who planned to shop online last year on Cyber Monday.

But retailers can take solace in one bit of news from the National Retail Federation. It still expects total holiday sales through the end of the year to rise 4.1 percent.


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