Holiday weekend sees rise in shoppers and fall in spending

Number of shoppers visited stores over the Black Friday weekend jumped, however average spending per person dropped as compared with last year figures.

Figures released by the National Retail Federation showed that nearly 195 million shoppers hit stores and websites over the holiday weekend as compared with 172 million during the same period previous year.

In contrast, spending per person slipped to $343.31 from $372.57 last year.

Tracy Mullin, CEO of the National Retail Federation, said, “Shoppers proved this weekend that they were willing to open their wallets for a bargain.”

Though, customers’ mood during the holiday weekend does not predict how holiday season will perform, yet it provides a gauge of how consumers are feeling going into holiday season.

Supermarket chain Tesco has announced price cuts of £250 million, while Asda and the Co-operative promised price cuts of £150 million and £200 million in the run-up to Christmas to attract more customers.