If you were in or near a mall this weekend, you know the holiday shopping season is officially upon us. People are flocking to stores in record numbers, especially the day after Thanksgiving, AKA Black Friday — because it puts the stores in the black as early bird shoppers gobble up the deals on PSPs, computers, phones, cameras and other digital devices. I usually avoid the malls this weekend, except for movies, and stealthily visit them mid-week to miss the crowds.
According to the National Retail Federation, the world’s largest retail association, an estimated 137 million shoppers are expected to shop this weekend, up from 130 million people in 2005. They’re projected to spend 5% more this year for a total of $457 billion, or an average of $791.10 each.
And those gift cards you’ve been seeing everywhere from your grocery store to your favorite retailer are in huge dmand — with 34% more expected to be used this year, equalling $24.8 billion.
In fact, tomorrow is another big shopping day, with an estimated 61 million expected to shop online on Cyber Monday. Read their Press Release.