Spending Was At An All Time Low For Black Friday And Corporations Lost Billions

‘For years, Black Friday brawls and rampant materialism on the day after Thanksgiving have become a sort of twisted American celebration. However, each year the excitement continues to die down as people reject the Black Friday antics and instead do their shopping online or on other days. According to a survey by the National Retail Federation, Black Friday attendance was down over 3%, from 58.7% last year to 55.1% this year.

The survey noted that the average shopper was expected to spend $380.95, which was down from $407.02 the previous year. According to the group’s estimates, sales slipped from $57.4 billion to $50.9 billion.

“A strengthening economy that changes consumers’ reliance on deep discounts, a highly competitive environment, early promotions, and the ability to shop 24/7 online all contributed to the shift witnessed this weekend,” NRF president and CEO Matthew Shay said in a statement.’

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