Executive Briefings

Well, We're Spending. But We're Spending Less than Last Year.

More consumers went shopping over the Thanksgiving holiday weekend, yet spent less than last year as they hunted for bargains on toys and electronics, according to the National Retail Federation.

Spending at stores and on Web sites from Nov. 26 to Nov. 29 rose 0.5 percent to an estimated $41.2bn from $41bn a year earlier, the Washington-based trade group said Nov. 29, citing a survey conducted by polling firm BIGresearch.  The higher turnout and lower average spending were in line with expectations, the NRF said. The group is sticking to a forecast for a 1-percent drop in spending this holiday season.

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More consumers went shopping over the Thanksgiving holiday weekend, yet spent less than last year as they hunted for bargains on toys and electronics, according to the National Retail Federation.

Spending at stores and on Web sites from Nov. 26 to Nov. 29 rose 0.5 percent to an estimated $41.2bn from $41bn a year earlier, the Washington-based trade group said Nov. 29, citing a survey conducted by polling firm BIGresearch.  The higher turnout and lower average spending were in line with expectations, the NRF said. The group is sticking to a forecast for a 1-percent drop in spending this holiday season.

Read Full Article