Bank Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays Bank.
Given all of the economic doom and gloom that’s been dished out over the past several months, I fully expected Black Friday to be a bust. But guess what? According to data from ShopperTrak, Black Friday retail sales increased 3% over last year’s levels. While this was the smallest year-over-year gain since 2005, it was still a gain.
This increase seems particularly significant given that a recent Gallup poll indicated that shoppers expected to spend 29% less this year. Of course, there are no guarantees that a better than expected Black Friday will translate into a strong holiday shopping season overall. All of this begs the question…
Is the economy really doing better than we’ve been led to believe? Or are people simply blowing their cash early in search of the hottest deals, only to tighten their belts as Christmas draws nearer. Another factor to consider is that there are only 27 shopping days between Black Friday and Christmas this year compared to 32 in 2007. Perhaps the shorter shopping season has kicked shoppers into high gear.
What about you?
Are you cutting back this year? Or is it business as usual?
Hat Tip: NoCreditNeeded
- How to Become a Millionaire
- How to Get Out of Debt
- The Best Dollars I've Ever Spent
- How Our Estate Plan is Structured
- How We Paid Our Mortgage In Less than 10 Years
- Money Making Ideas
- How to Manage Your Asset Allocation with Multiple Accounts
- Consumption Smoothing - Save While the Saving's Good
- How to Save on Groceries
- How Much Life Insurance Do You Need?
- Eleven Great Books About Money
- Dave Ramsey is Bad at Math (692)
- Dish Network Customer Service SUCKS (534)
- $8,000 Homebuyer Tax Credit (429)
- Pay Off Mortgage Early or Invest? (424)
- How to Claim the First-Time Homebuyer Tax Credit (352)
- Termite Control: Sentricon vs. Termidor (325)
- How Much Should You Pay a Babysitter? (284)
- Ethanol Blended Gas = Lower Mileage? (272)
- Reduced Credit Limits? Share Your Experience (256)
- $15,000 Homebuyer Tax Credit (242)
- Buying Furniture off the Back of a Truck (228)
- Will Mac OS X Lion Kill Quicken 2007? (191)