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A black or bleak Friday ahead?

November 13, 2007 7:12pm
by Chris Nuttall

Black_friday Black Friday, the day after Thanksgiving in the US, falls this year on its earliest possible date - November 23.

The big day of store sales when retailers are supposed to go into the black for the year also signals the unofficial start of the holiday shopping season.

The latest online retail figures from the comScore research firm suggest the industry will need all those extra days of shopping – Black Friday can fall as late as the 29th – to avoid a disappointing Christmas.

It reports retail e-commerce sales in October grew 19 per cent on last year to $9.96bn. That compares to year-to-date sales growth of 21 per cent up to the end of September.

Gian Fulgoni, comScore chairman, said October’s figures often gave a glimpse of what to expect during the holiday season:

“That online sales growth rates diminished slightly in October is not entirely unexpected, as many consumers are feeling the pinch of ballooning mortgages and gas prices, coupled with a decline in housing values. Even the rapidly growing online commerce sector appears to not be immune from these economic realities,” he said.

Apparel and accessories growing by only 5 per cent in October could be down to unseasonably warm weather, he added, and a recovery in this sector could change the picture for Christmas sales online.

There were also encouraging figures for some categories of retailers. Furniture, appliances and equipment grew 105 per cent on a year ago, while sales of the Nintendo Wii, Sony’s PlayStation 3 price cuts and the success of the game Halo saw the video game sector soar 264 per cent compared to October 2006.

November 13, 2007 7:12pm in Consumer Electronics, Games, Internet | Comment

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