Error: Sluggish Holiday Shopping Season Not Found

J.J. Jackson* | November 27, 2007

For weeks now we have been deluged with stories about how the economy is slowing and dire predictions for the Christmas shopping season. So far, however, the “experts” are wrong:

New York City retail stores are reporting especially strong sales for the Friday after Thanksgiving, historically known as “Black Friday,” both from local customers and visiting foreigners capitalizing on the weak dollar. National sales figures are up, too, with Chicago-based retail sales research group ShopperTrak RCT Corp. reporting a strong start for the inaugural weekend of the holiday shopping season.

ShopperTrak’s National Retail Sales Estimate reported over the weekend that sales on Black Friday increased 8.3% over 2006, nearly four percentage points higher than expected. The research group, which tracks more than 50,000 retail outlets across the country, estimated $10.3 billion in total sales over of the day.

Well, there is still a couple weeks left for the season to turn sour. Expect to see more stories about how doom and gloom are on the way!

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