Online Sales Rise

I don’t put a great deal of faith in Black Friday numbers. It’s true that this is an important time of year for many retailers, but the direction of their businesses can hardly be measured accurately in just one day’s total.
If there is good news, then it seems to be that online buying is higher than it was one year ago. The Internet tracking firm comScore says that e-commerce sales on this past Friday were up 11% over a year ago. Online sales for Thanksgiving Day were up 10% from last year.
While these numbers are encouraging, I think their significant is dwarfed by the jobs market. Once new jobs are created, it will signal that consumer spending will trend in the right direction.

Posted by on November 30th, 2009 at 9:48 am

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.