Retailers and Shoppers Gear Up for Black Friday
by: Laurie Johnson, November 24, 2005 5:11:00 am
Shoppers will hit the malls and stores in droves tomorrow, searching for the best deals and examining the newest gadgets and trends. Patrice Duker with the International Council of Shopping Centers says this weekend is always a huge boost for a retailer's bottom line; but she cautions people shouldn't read too much into sales results from this weekend.
As Duker said, this weekend will account for about 10 percent of total holiday sales, but the bigger weekend is actually the final weekend before Christmas. Overall holiday sales are expected to be up this year as well. Duker says that's because the economy is better than it was at this time last year and people may feel more stable.
But she says, although people will spend more this year, they're still spending conservatively and most of the money will go to high quality items like electronics and clothing.