Fewer HDTVs Sold This Holiday Season?
One shopping analyst says consumers are buying less expensive items this season.
By Swanni
That's according to two reports issued yesterday on sales last Friday, the unofficial start of the holiday shopping season.
The National Retail Federation reports that 147 million customers visited stores on Black Friday, a 4.8 percent increase over last year.
However, the group cites last year's explosion of HDTV set sales as a reason for this year's reduction in individual spending. Many consumers are now buying less expensive items because they already have high-def sets.
HDTV sales boomed last year when retailers sharply cut prices shortly before the holiday.
"It's the saturation of HDTVs into the market, and also retailers recognizing that consumers will be more conservative this year and focusing on lower-priced merchandise,'' NRF spokesman Scott Krugman said, according to Bloomberg.com.
Krugman said shoppers are concerned about rising gas prices and the housing slump.
ShopperTrak RCT Corp, another research firm, reported yesterday that Black Friday sales gained 8.3 percent, a larger increase than expected.
But both NRF and ShopperTrak are sticking to their 2007 holiday forecasts, which say the nation may experience the slowest increase in sales in the last five years.
Bloomberg reports that ComScore says that online purchases jumped 29 percent on Thanksgiving and 22 percent on Black Friday.
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