Posted on 11/25/2016 4:18:13 AM PST by drewh
Hope for $3.1billion on Black Friday amid post-election spending boom
Online shoppers charged out of the gate, spending more than $1.15billion between midnight and 5pm Forecasters expect the total value of Thanksgiving Day purchases to be more than $2billion
It was an increase of more than 13 per cent on what was spent during the same time frame in 2015, and Adobe said it expected the Thanksgiving Day total to surge past $2billion in the next few hours. The forecasters expect almost $900million of the total figure to come from purchases made on mobile devices.
The National Retailers Foundation says online spending over the three-day bonanza will reach an eye-watering $8.4billion. The NRF's annual holiday shopping forecast expects $3.05billion on Black Friday and $3.36billion on Cyber Monday - which would mean it is the biggest shopping day of all time. Other forecasters project overall holiday spending will rise by 3.6 percent - which would be a bigger jump that the average seen over the past seven years. If spending does increase by the predicted amount, 690,000 new seasonal jobs will be created, according to the NRF.
This weekend is crucial to set the tone. Around 137 million people plan to or are considering doing their shopping during the Thanksgiving weekend, according to a survey conducted for the National Retail Federation. That includes online and store shopping. Black Friday, the day after Thanksgiving, vies with the Saturday before Christmas as the busiest shopping day of the year. The NRF, the nation's largest retail group, expects holiday sales to rise 3.6 per cent for November and December, better than the 3 per cent growth seen for those months last year. That excludes car sales, gas and restaurant receipts but includes online spending and other non-store sales such as catalog spending.
(Excerpt) Read more at dailymail.co.uk ...
Happy days are here again?
Gianfranco Ferré L’Uomo
https://youtu.be/wMsIYzM_lS0
Will the MSM journalist admit it is the TRUMP EFFECT.
http://www.wsj.com/articles/retailers-push-early-start-to-black-friday-sales-1479992401
In what some analysts have dubbed the “Trump Bump,”
People are happy the end of the Obama administration is in sight.
Ohhhhh, I’m already so tired of winning. Please stop, President Trump, I can’t take any more good news!
If somehow, Hillary gets the election results to change, I bet the DOW would nosedive.
consumer confidence is the highest since 2006 already!
I refuse to use the phrase Black Friday. I am in the woods. To us, it is a time for deer hunting not saving $10 on a big screen TV.
It’s BLANK Friday! Bargain hunters fail to show up for expected frenzy on Britain’s high streets as ONLINE stores enjoy record sales - with £1.5million being spent every MINUTE
What the hell is a "spurge" when it comes to spending? Could it be "splurge"? Could it be the "Trump effect"? Yes & yes!
You don't understand the Black Friday tradition. It's not about the savings, it's about getting into a fist fight to get those savings.
Obama presided over a massive infusion of cash into the monetary system. It had no measurable effect on the economy. People who got cash, or had cash, held onto it for various legal* and psychological** reasons. According to the government, which does not measure food, fuel, medical costs and taxes, among other items, there was no inflation. That cash is floating out there like a mine bobbing in front of a passenger liner. If people feel ready to spend then, quite suddenly, inflation will spiral rapidly, perhaps past the 20% levels we saw when Carter increased the money supply just 8%. I believe the cash level was increased over 300%. (I haven’t figured in all the “quantitative easing” that added 87 billion per month.)
* Companies want certainty. No certainty, no in vestment. When Obama essentially fired the head of GM and gave the “secured” bond holders a haircut while giving a big chunk of the company to his political supporters, the UAW, he destroyed that certainty. Companies have sat on over 15 trillion dollars in cash, refusing to invest until the rule of law returned to the business world. This money is out there waiting a signal to start investing. Trump’s election and a Republican Congress is probably that signal. Expect the economy to take off with full employment (4% or less unemployed).
** The nation has a mood; where enough individuals feel threatened and financially insecure that they effect the economy. Individuals from the clerks at Walmart to the millionaire plumbing company owner felt insecure about where the economy was going. Instead of buying a new stove or a new car they made do with what they had or bought used. I sense with Trump’s election that the collective mood has changed. People will feel relieved and buy the necessary things they have put off while Obama was in office. Inflation is defined as too much money chasing too few products. Expect inflation to spiral.
They will blame the Walmart economy. According to them, Americans want cheap stuff more than good jobs.
Might be nice to deluge his site with such - a lot have been slamming him for his potential decisions on who to hire and I went out to say that he has earned our trust and to ignore those who can't seem to stand winning....
It’s not related to spending, but here’s the definition of a ‘spurge,’:
NOUN
a herbaceous plant or shrub with milky latex and very small typically greenish flowers. Many kinds are cultivated as ornamentals and some are of commercial importance.
> People are happy the end of the Obama administration is in sight.
That will help the economy more than anything. The end of the reign regulatory king who would tax businesses at 100 % if he thought he could get away with it. One whose effects caused more closings, layoffs, and moves overseas than any other president by far. And one who hated capitalism and businesses success unless they were his biggest donors. Yeah that guy. Good riddance.
Obama increased the money supply 90% at a rate of just over one percent a month with Quantitative Easing so that bill will eventually come due; G20 nations worldwide coordinated the largest government(s) money printing scheme in history while putting their foot on the neck of commodities. Inflation may well just be an incremental rate hike away.
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