Friday, November 28, 2014

When Black Friday Comes...

Going shopping today? Surveys showed that 95.5 million Americans planned to get a jump-start on their holiday shopping on Black Friday this year. We're expecting a big holiday retail season this year, with purchases expected to grow by 4.1 percent over 2013, according to the National Retail Federation. The ten-year average increase is 2.9 percent.

Holiday shopping has a huge impact on our economy. Sales in November and December are expected to total $616.9 billion this year. Retailers are expected to hire anywhere from 725,000 to 800,000 seasonal workers to help pitch in.

But more and more shoppers are planning to skip the stores and shop from home. Some 56 percent of us plan to do at least a little shopping online, up from 51.5 percent last year. And 44 percent of all holiday shopping will be done online. So that figure of 95.5 million shoppers, if anything, understates the Black Friday craze.

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