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Black Friday Frenzy - Guess The Date
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Black Friday Frenzy - Guess The Date

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Black Friday Frenzy - Guess The Date

Guess the date of this frenzied Black Friday action description:

"On this year’s Black Friday, retailers and analysts said they saw a surge in traffic at stores and malls over last year, and also were noticing that shoppers snapped up discretionary items for themselves rather than gifts or necessities...Near Chicago, Wal-Mart tried a crowd-control technique: handing wrist bands to shoppers who wanted access to the 5 a.m. electronics prices, so admission would be limited and there would be less of a frenzy. At an upscale mall outside Los Angeles, although shoppers were treating themselves to items like limited-edition Nike shoes and jewelry, many paid in cash. “You can just feel it in the air — people want to spend money again,” said Karen Stanek, manager of an Old Navy store in Arlington Heights, Ill. “The mood of the customers is more positive than it’s been in years.” Analysts, mall owners and retailers said that traffic was higher than last November and that people seemed to be spending more. But concrete assessments as to whether sales were up over a year ago, and if so, whether they were enough to lift major retailers out of their long-term, recession-driven slumps, were not available. The first sales figures for Black Friday will not be available until later this weekend."

If you said, 2010 you would be correct (courtesy of the New York Times "Shoppers Flock Back to the Mall to Hunt Deals").

So what was the final tally? Per Bank of America: "According to the retail-data firm, ShopperTrak, sales on Black Friday rose 6.6% against year-ago levels. This compares with a paltry 0.3% gain in 2010."

So all that 2010 exuberance... for nothing?

Q.E.D. for 2011 as well.

More on ZeroHedge...

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