The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – Consumer spending during America’s Thanksgiving weekend dropped compared to last year, but the decline can be attributed to an improving economy and changing shopping habits, a survey found Sunday.

According to the National Retail Federation’s Thanksgiving weekend spending survey, 55.1 percent of holiday shoppers were expected to visit stores or go online over Thanksgiving weekend, down from 58.7 percent last year.

“A strengthening economy that changes consumers’ reliance on deep discounts, a highly competitive environment, early promotions and the ability to shop 24/7 online all contributed to the shift witnessed this weekend,” NRF President and CEO Matthew Shay said in a statement.

According to the survey, the average weekend shopper was expected to spend $380.95, down 6.4 percent from $407.02 last year.

Of that amount, $159.55, or nearly 42 percent, was spent online, down from $177.67 spent online last year.

Total spending was expected to reach $50.9 billion, down from last year’s estimated $57.4 billion.

American consumers flood stores looking for steep discounts, particularly on electronics, toys and clothes during the Thanksgiving weekend, which kicks off Christmas holiday spending.

Black Friday still drew the biggest crowds: 86.9 million shoppers in stores and online.

However, the weekend has been expanded into a number of specialty commercial ‘holidays’: “Gray Thursday,” “Small Business Saturday” and “Cyber Monday.”

Of those who went shopping on Saturday, three-quarters said they did so specifically to support “Small Business Saturday,” which is a growing movement to encourage residents to support local sellers.

Many online retailers also offered discounts in the days before Black Friday, possibly accounting for a reduced overall spend on the day itself.

“Early online promotions before the big weekend may have taken some of consumer’s spending power with them,” the NRF statement read.

The survey was conducted November 28-29 by Prosper Insights & Analytics for NRF. It polled 4,631 consumers and had a margin of error of 1.5 percentage points.

AFP Photo/Paul J. Richards

 

 

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Donald Trump and Melania Trump

Youtube Screenshot

In a Monday court filing, the Justice Department asked a federal court not to unseal the affidavit showing probable cause for the warrant to search Mar-a-Lago, giving reasons that underscore the hot water Donald Trump appears to be in.

Disclosing the affidavit now would, according to the filing, “cause significant and irreparable damage to this ongoing criminal investigation.” It would do that by revealing, “among other critically important and detailed investigative facts: highly sensitive information about witnesses, including witnesses interviewed by the government; specific investigative techniques; and information required by law to be kept under seal.”

Keep reading... Show less

Lara Trump

Youtube Screenshot

When Donald Trump revealed last Monday night that the FBI had “raided” his Mar-a-Lago resort and residence, Fox News had an asset on its payroll uniquely positioned to provide its audience with insight: The former president’s daughter-in-law, Lara Trump, is a Fox contributor. But unfortunately for the network’s viewers, over the past week she's been using her network platform to mislead them.

Members of the Trump orbit, including Lara Trump’s husband, Eric, deployed to Fox last week offering the expected furious defenses of the former president and denunciations of the FBI’s probe. But if there’s any value whatsoever in putting a former president’s relative on staff, surely it is in the aftermath of such an event, when she might have both rare access to credible information and a willingness to reveal it.

Keep reading... Show less
{{ post.roar_specific_data.api_data.analytics }}