Black Friday Results Point To Two-Tier Economy
The results from this past Thanksgiving weekend retail shopping blitz are in and consumer spending at real brick-and-mortar stores is barely up from a year ago. This is disappointing. What’s interesting is that traffic numbers were up and those who spent 6.4% more than last year. This suggests a two-tier economy for those who are back to normal versus those who are still being affected by the economic crisis.(Hat tip Barry Ritholtz)
Note that these numbers don’t include online shopping where retailers racked up huge numbers compared to a year ago.