Black Friday Weekend Overcomes Soft Sales Projections

ALBANY, NY (11/28/2007)(readMedia)-- Intrepid shoppers turned out in force throughout New York to take advantage of “door buster” specials and other discounts over “Black Friday weekend,” befuddling analysts and their early predictions of weak retail sales this holiday season. Even retailers seemed pleasantly surprised – more than 60 percent of merchants surveyed by the Retail Council of New York State early this week said they were pleased with the sales activity in their stores over Black Friday weekend.

Nearly 80 percent of surveyed merchants said their sales for the weekend were the same as or better than their sales over the same period of time in 2006.

“Despite a lot of doom-and-gloom in advance of the season, this Black Friday weekend proved just how resilient New York state’s consumers can be,” said Retail Council President and Chief Executive Officer James R. Sherin. “Our members entered the season with optimism; a forecast survey told us that three-quarters of them were confident this holiday season would prove to be the same as or better than 2006. They appear to be on the right track.”

Consumer electronics, such as digital photo frames, laptop computers and high-definition televisions, topped shoppers’ lists. Apparel, books, DVDs, and jewelry – especially diamonds and sterling silver – were also popular. The past spate of recalls didn’t hinder consumer purchase of toys, which sold well all weekend long.

Retailers throughout the state reported on their Black Friday weekend sales through the Retail Council of New York State’s annual “Holiday Sales Watch,” a periodic snapshot of sales activity in stores small and large between late November and early January.

Merchants reported steady foot traffic all weekend long, including Sunday afternoon which has fizzled out in years past. Merchants did their best to keep shoppers interested with nearly 40 percent reporting they offered discounts, such as 10-50 percent off sales and giveaways to keep the momentum alive.

“There’s nearly four weeks before Christmas and consumers still have a lot of shopping to do,” said Mr. Sherin. “The jury is out on the success of the 2007 holiday season, but the encouraging start merchants experienced over Black Friday weekend looks very positive.”

The Retail Council’s next Holiday Sales Watch will gauge mid-season sales activity. The results of this survey will be released Dec. 12, 2007.

Hot Sellers for the Survey Period Nov. 23-25, 2007

For Girls: Barbie, Bratz, Dora the Explorer, Disney Princess, Disney Hannah Montana, Nintendo Wii, Webkinz, Elmo, American Girl

For Boys: Transformers, video games, Nintendo Wii, Cars (generic), Spider Man, LEGOS, Thomas the Tank Engine, XBOX 360, Elmo, remote controlled cars and trucks

For Adults: Home electronics (flat screen, high definition TVs, I-Pods, digital cameras, digital photo frames), apparel, accessories, jewelry (especially diamonds, Journey jewelry and sterling silver), books and DVDs

About the Retail Council of New York State:

The “Voice of Retailing” in New York state, the Retail Council represents thousands of member stores of all sort and size. The Retail Council offers money-saving group benefit programs and government relations expertise to its members. For more information, please visit www.retailcouncilnys.com.

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