Post-Thanksgiving, Black Friday shopping volumes actually improved year-over-year, according to preliminary figures from ShopperTrak RCT. Over the weekend, the company estimated one-day sales volumes at $10.6 billion, spurred by deep discounts. That represents a 3 percent gain over same-day sales in 2007, a remarkable improvement given the backdrop of considerable financial uncertainty. The ShopperTrak National Retail Sales Estimate covers a diverse range of retail goods, including music, and offers a gauge of broader consumer demand.
Separately, the National Retail Federation also reported gains. The group noted that both the number of shoppers and the average spend per consumer moved upward. Specifically, the group estimated an extended retail population of 172 million for the broader weekend, up 17 percent, and per-consumer spends of $372.57, up 7.2 percent.
Online, shoppers purchased $534 million on Black Friday, up 1 percent from 2007, according to comScore. Thanksgiving Day sales bumped 6 percent, though the broader online projection for the holidays remains flat.
The Black Friday weekend is considered a bellwether for the holiday season, though cautious optimism is the mood among retailers. Instead of big-ticket items, most consumers are exercising restraint, especially in the face of smaller personal budgets. Meanwhile, broader spending has softened considerably.
Exactly how that affects the recording industry remains unclear, though September and October produced strong declines in CD sales. Other aspects of the music business, including live events and merchandising, could feel considerable pressure. Still, the recent bounce offers some hope of a resilient consumer, a critical component for recovery.
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