"... and the People should know, based on the latest numbers, that the stores are filled with gifts for their families, all priced so that those who shouldn't afford to overspend cannot. This is the Obaconomy in action."
Posted on 12/04/2009 7:49:58 AM PST by MaestroLC
The hordes of Black Friday shoppers weren't enough to save retailers from dispiriting November sales, according to company data released Thursday.
About 30 national chains reported monthly sales at established stores on Thursday, a key measure of the industry's health. Several chains, including Costco and J.C. Penney, performed worse than analysts expected. Retailers said that unseasonably warm weather dampened sales at the beginning of the month. In addition, shoppers saved their cash for post-Thanksgiving deals.
"It was a month that disappointed us and, I think, the industry," said Michael Niemira, chief economist for the International Council of Shopping Centers, a trade group.
(Excerpt) Read more at washingtonpost.com ...
Can anybody comment on the mandatory sales like eye doctors.
You cannot get glasses or more contacts if you haven’t paid for an eye doctor exam within the year. Even if you have NO problems seeing, the laws MANDATE you pay the eye doctor before you can purchase any eye wear.
How many households don’t have the $110+ to pay on each member, every year, when one or both adult is out of work?
How about a giant garage sale on the White House lawn and all the merchants in the country could ....
Totally a CYA statement, isn't it? If it had been cold, they'd have claimed the cold weather kept people at home. Bottom line is NO ONE HAS ANY MONEY. Our sales for October were down by almost 25%. Haven't gotten to November yet but it's looking as bad or worse. And our business isn't "wants" based, it's "needs" based!
“Retailers said that unseasonably warm weather dampened sales at the beginning of the month. In addition, shoppers saved their cash for post-Thanksgiving deals.”
Yeah whatever makes you feel better guys.
“Our sales for October were down by almost 25%. Haven’t gotten to November yet but it’s looking as bad or worse. And our business isn’t “wants” based, it’s “needs” based!”
I’m sorry to hear that, these are scary times. Hopefully we can start to turn this country around next year.
“Our sales for October were down by almost 25%. Haven’t gotten to November yet but it’s looking as bad or worse. And our business isn’t “wants” based, it’s “needs” based!”
I’m sorry to hear that, these are scary times. Hopefully we can start to turn this country around next year.
WOW! I'm very familiar with Southcenter and that's just amazing! I almost hated going there on "regular" weekends. Our little mall here in Ogden UT was jammed packed, parking lot and stores - and this was later in the afternoon.
"... and the People should know, based on the latest numbers, that the stores are filled with gifts for their families, all priced so that those who shouldn't afford to overspend cannot. This is the Obaconomy in action."
Excellent point. We went to a lot of stores but bought very little, less than last year (well, less in almost all areas respects....wife got a lot of clothes since she needed some more for work....but then again she hasn’t hardly bought any clothes in a year anyway unlike most women...lol). But, the clothes were a necessity, not a want or a purchase for somebody else.
We hear "bad weather hampered sales" all the time.. I've never heard "warm weather dampened sales" before.
Don’t get me wrong. It was not a picnic, but it wasn’t too bad. We found a space pretty easily.
The retail version of "Cash for Clunkers", a lot of activity for a short period of time, followed by a complete drop-off in sales.
I bought several sweaters, all at around $65-75 normal price, for $15-17. At the mall they were even beating the Costco clothing prices. I could not believe it.
Technically, “I have MORE insurance” he he he...
The best part is when she says “Yes Mam!” Oh, I love it.
Every summer Virginia has a sales-tax holiday on hurricane-preparedness items, like flashlights, generators, and batteries. I keep trying to convince the clerks that BangSticks and Pointy Thingies should be included in preparedness, but it hasn't worked yet.
I have never seen it reported that retailers are happy with Christmas spending. The media thinks it’s their job to drum up holiday spending. Then later they chide us for being pretentious materialistic asses who spend money for Christmas while people starve.
LOL It is hard to tell if you are in the Womens Wear or the maternity department anymore.
My hubby is in retail. He said it is harder to move the cold weather apparel when it’s warm like it was in early November. No one is in the market for it yet. Once the weather gets colder the sweaters, coats, boots, and blankets start moving.
This is the real story:
Shoppers and Online Promotions Continue Black Friday Momentum, Pushing Sales Nearly 14% Above 2008 Levels
SAN MATEO, CA--(Marketwire - December 1, 2009) - The U.S. online retail sector reported strong sales results on Cyber Monday (Nov. 30) 2009 compared to the same period last year according to Coremetrics, the leader in marketing optimization. This analysis, delivered as part of Coremetrics' second annual Cyber Monday Benchmark Report, reveals the following trends and patterns as of 12 a.m. PST:
-- Cyber Monday continued the momentum set by Black Friday. Sales were up
24.1 percent compared to Black Friday 2009.
-- Consumers spent more per online order ($180.03 versus $170.19 for an
increase of 5.8 percent) compared to Black Friday 2009.
-- Sales were up 13.7 percent compared to Cyber Monday 2008.
-- The average dollar amount consumers spent per online order rose 38.2
percent from Cyber Monday 2008 ($180.03 versus $130.24), led by apparel
retailers.
-- Consumers bought nearly 10 percent more items per order on Cyber
Monday 2009 compared to Black Friday 2009 and nearly 30 percent more
compared to Cyber Monday 2008.
-- Consumer shopping hit its peak from 9-10 a.m. PST, but maintained
stronger momentum throughout the day than on Cyber Monday 2008.
"We are seeing good online buying momentum
<---snip--->
http://www.marketwire.com/press-release/Coremetrics-1083892.html
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