Trump Economy Boom: Businesses See Black Friday Sales Spikes
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It's that time of the year again... Black Friday.
More than 165 million Americans are expected to take part in this year's Black Friday and Cyber Monday sales according to the National Retain Federation.
Breitbart reports: "That includes 39.6 million who said they were considering shopping on Thanksgiving Day, 114.6 million on Black Friday, 66.6 million on Small Business Saturday and 33.3 million on Sunday. On Cyber Monday, 68.7 million are expected to take advantage of online bargains. To put that into context, the total number of votes cast in the 2016 presidential contest amounted to 136.6 million."
The Trump Economy is doing so well that many people started their holiday shopping in early November, something that we have not seen in the past.
That's not all... The numbers speak for themselves. Holiday sales are expected to increase between 3.8 percent and 4.2 percent compared to last year.
Sales between November and December are expected to increase between 3.8 percent and 4.2 percent compared with last year despite the 18 percent drop in the number of days of the old-school Thanksgiving to Christmas holiday shopping, according to the National Retail Federation. That would put us above the 3.7 percent average annual sales growth over the previous five years and well above the disappointing 2.1 percent growth during the recession scare and volatile stock market last year.
The retail group said it expects online and other non-store sales to increase between 11 percent and 14 percent for the holiday period.
Consumer optimism is running high, unemployment is low, wages are rising and rising fastest at the bottom on the income ladder, and many workers are confident they could find a new job at good pay if they lost their current jobs. All of these factors are likely to boost consumer spending. What’s more, the personal saving rate has been higher this year than in the recent past, indicating that consumers may have more to spend if merchants to convince them to part with some of their saving.
Online sales are doing so well that many websites for large businesses including Costco are shutting down because of the massive online traffic they're experiencing.
Costco’s website went down entirely for a brief period of time early on Thanksgiving Day. Costco.com was experiencing “intermittent slow load and transaction times” starting late Wednesday, according to website performance monitor Catchpoint.
By Friday morning, Costco had a banner on its website that said “all Thanksgiving Day-only promotions have been extended into Friday, November 29th, WHILE SUPPLIES LAST.”
Apparel retailer H&M’s website was also down for a short period, less than 5 minutes, on Thanksgiving morning, Catchpoint said. The site also had intermittent outages on Friday morning.
Nordstrom Rack customers also reported some technical issues.
The website monitor also said Home Depot’s website had “slow load times” during the middle of the day on Thanksgiving.
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