Retailers were cheered that their mix of deep discounts, early openings and website investment produced a strong start to the holiday season. Now, they’re plotting more price cuts to keep wary consumers interested for the rest of the key retailing period.
Sales on Black Friday—the big shopping day after Thanksgiving—rose 6.6% from a year ago, according to retail-data and consulting firm ShopperTrak, which uses equipment installed in stores to measure traffic. That compares with an anemic 0.3% gain in 2010. Sales for the four days beginning with Thanksgiving grew 16.4%, according to the National Retail Federation, which surveyed 3,826 people.
The NRF estimated that consumers spent an average of $398.62 on Black Friday weekend, up 9.1% from last year. Of that, $150.53, or 38%, came from online sales.
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