Black Friday consumerism: The lure of the draw not worth it

Brian White — Mon, 01 Dec 2008 13:21:00 EST

Filed under: Rants and Raves, Black Friday

As Peter Cohan wrote this weekend, sadly, some folks were killed over the holiday weekend due to what could be easily argued as Black Friday madness. In the zeal for saving a few dollars on cheaply-made, bargain-basement disposable consumer goods, one man was trampled to death as he opened the doors of a Wal-Mart Stores, Inc. (NYSE: WMT) store, while two other people were shot to death outside a Toys R Us store. Joy to the world, the materialism has won.

Although I enjoy covering the Black Friday event every year, the industry-made madness has become such an event that actually dumps respect for human beings into the garbage disposal, so that those crazy souls wanting to save 30% on shoes or a flat-screen television can get their fix.

I mean, is this what the holidays have come down to? The New York Times has a decent perspective on this. But, of course, America has always been about materialism and consumerism. Those are the factors that have made the U.S. the reigning economy worldwide. It's a free country for anyone to do as they wish, from billion-dollar companies to consumers with change in their pockets purchasing power. If we're all trained like Pavlov's dogs come the day after Thanksgiving -- credit cards in hand at 5:00am -- then it's no surprise some folks will die for the self-indulging greed of other human beings. Fa la la la la, la la la la.

Black Friday consumerism: The lure of the draw not worth it originally appeared on BloggingStocks on Mon, 01 Dec 2008 13:21:00 EST. Please see our terms for use of feeds.

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Will stocks climb Monday on better than expected Black Friday results?

Peter Cohan — Sat, 29 Nov 2008 17:21:00 EST

Filed under: Forecasts, Good news, Consumer Experience, Economic Data

It looks like we may have talked ourselves into an overly gloomy outlook for this year's holiday sales. Maybe that was the plan all along -- to depress expectations so much that it would be much easier to exceed them. And it looks like that's what happened -- analysts expected sales to rise 1% in the November/December 2008 shopping season -- and actual Black Friday results were up 3%.

Granted that's not an apples to apples comparison but the International Council of Shopping Centers predicted a 1% rise in same store sales this November/December shopping season and it has already revised its forecast upwards to 2%. For Black Friday, the 3% sales increase amounted to $10.6 billion in sales.

And there were some significant differences across different regions. The South gained the most, 3.4%, over 2007 while in the Northeast sales rose the least, 2.6%.

Nevertheless, other analysts remain gloomy. ShopperTrak has estimated that 9.9% fewer shoppers will descend on stores this November/December shopping season, producing a sales gain of 0.1%. And Gallup suggests that the average individual will spend 29% less, or $616, compared to 2007.

Continue reading Will stocks climb Monday on better than expected Black Friday results?

Will stocks climb Monday on better than expected Black Friday results? originally appeared on BloggingStocks on Sat, 29 Nov 2008 17:21:00 EST. Please see our terms for use of feeds.

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