Festive shoppers in the US spent 11.2 billion US dollars across the country on Black Friday. That is down 1.8 per cent on last year.
Still the figures hint at a change in shopping habits with many stores offering cut-price bargains on Thanksgiving Day itself and online purchases were also up.
Overall the retail trade expressed satisfaction with weight of sales, including Terry Lundgren, Macy’s CEO.
“They understand what that value means because they have all the research available to them online. They are using their phones to research the price and to make sure it is a good price. They are looking at their options and that’s been a winning strategy for us and we believe we must be competitive on pricing, therefore we are.”
Online purchases rose 17.4 per cent on Thanksgiving Day and 20.7 per cent on Black Friday.
The number of store visits was up to more than 307 million, but spending was down suggesting more browsers than spenders.
Despite a slight increase in consumer confidence, many people remain concerned about the slow economic recovery in the United States.