Despite huge crowds fueled by heavy discounts, shoppers spent less on average on Black Friday and weren't able to give retailers the big boost they were hoping for.
Sales on the day after Thanksgiving rose just 0.5% to $10.66 billion, according to ShopperTrak RCT Corp., a research firm that monitors sales at more than 50,000 stores. That compared with a 3% year-over-year Black Friday increase in 2008 and an 8.3% surge in 2007.
"It's a positive sign that we had an increase in sales, but the numbers certainly don't indicate that those will be sustained," said Britt Beemer, chairman of consumer behavior firm America's Research Group.
Nationwide, 195 million shoppers visited stores and websites over the four-day weekend, up from 172 million last year, the National Retail Federation said Sunday.
But average spending fell 7.9%, to $343.31 per person, from $372.57 a year ago. Total spending reached an estimated $41.2 billion.
Although Black Friday doesn't dictate how the holiday season will perform, it does give retailers and industry watchers a gauge of how consumers are feeling going into the all-important holiday season.
What was clear this weekend was consumers' continued preference for good deals, with shoppers rushing to snap up discounted toys, electronics and apparel while avoiding items that were still full price. Retailers' warnings of low inventory levels led many shoppers to hit the malls early, when traffic was especially strong.
"The appetite among consumers this year seems to trend toward lower-priced items, the items they could afford with the money in their wallets," said Ellen Davis, vice president of the National Retail Federation.
Bargain hunting became a must for Athena Martinez, 46, after her husband was laid off from his job as a deliveryman for an air conditioning company this year and was out of work for five months.
While shopping at Citadel Outlets on Thanksgiving night, where most stores opened at 10 p.m., Martinez said financial worries had led her to try shopping for gifts at outlet stores.
"We're still trying to play catch-up," said the Anaheim resident, who added that her family would be focusing on necessities this holiday season and was cutting its budget by at least half. "No big-ticket items. No TVs, no iPods."
Sticking to a holiday budget was also a priority for Ivorine Graham, 44, who was lugging two pillows and an iron she bought for $40 at the Beverly Center on Friday.
