Black Friday sales hit record, says report

@CNNMoney November 26, 2011: 7:13 PM ET
black friday sales

NEW YORK (CNNMoney) -- Preliminary reports for Black Friday indicate that retailers may have seen their strongest sales ever during the all-important kick-off to the holiday shopping season.

Retail sales on Black Friday climbed 6.6% this year to an estimated $11.4 billion, according to ShopperTrak, which tracks foot traffic at malls and stores. Last year, sales climbed just 0.3% to $10.7 billion, which was a record one-day sales amount at the time, according to the company.

"This is the largest year-over-year gain in ShopperTrak's National Retail Sales Estimate for Black Friday since the 8.3 percent increase we saw between 2007 and 2006," said ShopperTrak founder Bill Martin. "Still, it's just one day. It remains to be seen whether consumers will sustain this behavior through the holiday shopping season."

However, sales have been strong throughout the entire month of November with retailers rolling out holiday deals earlier than ever. In the two weeks leading up to the week of Black Friday, retail sales were up 3.6% and 3.8%, respectively, ShopperTrak reported.

"Retailers continue to stretch out Black Friday weekend by enticing shoppers with doorbuster deals weeks in advance," said Martin.

Online sales have also proven to be strong, with many big-box retailers and department stores offering deals online earlier this year.

Black Friday online sales surge 24%

Online sales were up 39.3% on Thanksgiving Day and 24.3% on Black Friday compared to the same days last year, according to IBM's (IBM, Fortune 500) Coremetrics, which tracks real-time data from 500 retailers in the apparel, department store, health and beauty and home goods categories.

"This year marked Thanksgiving's emergence as the first big spending day of the 2011 holiday season with a record number of consumers shifting their focus from turkey to tablets and the search for the best deals," said John Squire, chief strategy officer at IBM's Smarter Commerce division.

Consumers also spent slightly more than they did last year, although they spent most of that money on themselves. According to NPD Group consumers spent about 3% more on purchases during Black Friday. However, about 44% were self purchases up from 33% last year, the research group said.  To top of page

Most Popular
Europe debt crisis and jobs numbers to drive stocks
 
Farmers hit the jackpot in Kansas oil boom
 
Apple to DOJ: Bite me
 
Postal Service offers $15,000 buyouts to 45,000 mail handlers
 
Summer gas prices - as good as they'll get
 
Just the Facts
How big is our big deficit?

What measures -- spending cuts, tax hikes, or both -- are needed to tame the budget deficit? Money magazine looks at how we got here and how big our debt really is.

What you need to know about the budget

Politicians are arguing fiercely over the proper size of the government. Money magazine looks at the facts -- how much we spend and what we spend it on.

Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.80%
15 yr fixed3.09%3.11%
5/1 ARM2.65%2.69%
30 yr refi3.77%3.86%
15 yr refi3.09%3.21%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Hot List
CEOs who served their country

FedEx's Fred Smith did 2 tours of duty in Vietnam as a Marine. Meet 10 Fortune 500 executives who served in the U.S. military.  More

Farmer power forces Big Oil bidding war 

Group of farmers in southern Kansas pool their land to more than double their money from an oil company for their mineral rights. Play

6 great Memorial Day car deals

Here are some hot tips if you're going out car-shopping this weekend. More

Build your own mail-order home

This 150-square-foot home can be shipped anywhere and then assembled like Ikea furniture. More

How we got our jobs after college

Many Class of 2012 grads find themselves without work. But those who landed jobs say internships are key. More

CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.