Retailers Make Gains On Black Friday
Despite the doubts of reported surveys in the days building up to Black Friday, retailers made gains over their sales last year. Many media moguls mistakenly used information based upon a weak survey model.
For example, World Vision International (WVI) released a survey that reported a decrease in holiday spending with an increase in charitable giving. The survey based the results on a small population sample, approximately 1,000 people in the U.S. and 1,000 in Canada.
WVI made huge assumptions for a large industry out of a very small sample population. According to today's Reuters report, "Black Friday weekend to help retailers beat Street" there were an estimated 212 million shoppers during the holiday shopping season weekend.
Higher populations need higher sampling populations, so when reported surveys give out numbers they must have a relevant number of surveys to support their conclusions.
As a salesperson for one of the major retailers, the sales for this year surpassed last year's by far in my department. From behind the register, I witnessed the increased sales throughout the early hours of Black Friday.
Many specials were gone by 9 a.m. and the display models were sold as well. Most customers used cash, debit or check. Shoppers brought in printed coupons, mobile phone and e-mail promotions in order to receive extra discounts.
Reuters reports that the major retailers will release their recent sales reports on Thursday. My observations in the weekends closing in on Black Friday demonstrated a shopping season busier than the last couple years. In addition, to my busy weekends I have witnessed an increase in retail sales promotions.
Coupons via mobile phone, e-mail campaigns, Facebook and television commercials are relentless. The routine weekend coupon has turned into a daily turnover of new sales promotions within several stores. More customers present a coupon bag filled with clipped discounts, e-mailed and mobile coupons to receive the best of the bargains that retailers have to offer.
An interesting shopping season presents itself with the advances in technology and the old fashioned balancing of a checkbook. Retailers make gains, but one must wonder how much did retailers spend to receive the gains received.