The busiest shopping day of the year is not as busy as retailers hoped.
Across the U.S., shopping malls are seeing only thin crowds, according to reports in business media. Inflation and depressed consumer sentiment appear to have dampened the holiday shopping spirit.
Reuters reported:
At Times Square in New York City, which was cloudy with occasional light rain, employees were seen waiting inside stores for crowds that so far had not arrived.
Outside the American Dream mall in East Rutherford, New Jersey, there were no lines outside stores. A ToysRUS employee was seen walking around the mall handing out flyers with a list of the Black Friday door busters.
Bloomberg reported:
Around 10:30am at Crossgates Mall in Albany, New York, the ultra low-cost brands and the higher-end buzzy retailers had the most foot traffic, while the middle-market stores were desolate.
Gap Inc.-owned Old Navy, which was offering 60% off most items, had a line so long that some shoppers turned around as soon as they entered the store. Athleisure favorite Lululemon Inc., which had only a few racks of discounted merchandise, and American Eagle Outfitters Inc.-owned Aerie, a popular intimates brand among Gen Z shoppers, also drew big crowds.
Meanwhile, stores like Banana Republic, Macy’s and Urban Outfitters had no lines at all, and only a handful of shoppers.
Overall, the National Retail Federation has forecast that retail sales will be up six to eight percent this year compared with last year. That is a big slowdown from last year’s 13.5 percent increase and the 9.3 percent rise in 2020. After adjusting for inflation, sales may actually be down. The Consumer Price Index is up 7.7 percent compared with a year ago.
November saw a significant decline in consumer sentiment, according to the University of Michigan’s survey. The index of consumer sentiment fell five percent below the October reading, reversing about one-third of the gain since the historic low in June. The gauge of current conditions dropped by 10.4 percent.
Thanks to obiden and all his democratic supporters. You all have ruined Christmas this year for millions of children. You should be proud.
Media reported record sales which is not believable
Media Lied for Biden !!! He has Ruined America !!!
Times Square isn’t a major shopping destination, especially not on Black Friday. What are people supposed to buy there for Black Friday? Hard Rock Cafe gift cards? Plus the American Dream Mall has been a failure since it opened. These are horrible examples in regards to Black Friday demand.
All on > B I D E N
I don’t know where they were. The Arundel mills mall was totally full. Not a parking spot to be had. Just like pre Fauci days!
Yeah 6:44 and I bet you drove there with your mask on and wore it day. By the way, do you wear the mask in your home?
What is your obsession with people driving in masks? Do you not understand that certain jobs like delivery drivers or taxi drivers require that?
Thank senile old Biden for that and more to come.
Black Friday has become a joke. There really weren’t any good “sales” The few items I was looking for I got a few weeks ago and they were much cheaper. Some things the price even double on for “Black Friday Sales”.