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US Low Velocity Recovery: Black Friday sales fall 10% from last year

This is a syndicated repost courtesy of Confounded Interest - Online Course Notes For Financial Markets. To view original, click here. Reposted with permission.

Yes, the USA is in a low velocity “recovery” despite the massive Federal Reserve monetary stimulus.

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Part of the low velocity meme is the 10% decline in Black Friday sales from last year.

Total sales in the US on Black Friday fell 10% to $10.4bn this year, down from $11.6bn in 2014, according to research firm ShopperTrak.

Black Friday eclipsed by Thanksgiving shopping as retailers open earlier

The decline in sales on the traditional busiest shopping day of the year has been blamed on shops opening the day before. But this year, sales on Thanksgiving also dropped, and by the same percentage, to $1.8bn.

A big reason for the decline is increased online shopping, as Americans hunt down deals on their smartphones, tablets and computers. Many retailers are also offering bargains long before Thanksgiving, limiting the impact of Black Friday specials.

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Or Godzilla appeared at Wal-Mart and Best Buy stores in the USA, encouraging shoppers to shop on line.

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