By Andrea K. Walker , andrea.walker@baltsun.com|December 01, 2008
Shoppers taking advantage of steep discounts and door-buster deals spent more than expected the day after Thanksgiving, providing retailers with a surprisingly strong start to the holiday season.
But spending slowed as the weekend progressed, according to early surveys. And retail experts questioned whether stores would be able to keep up the momentum in a year when consumers say they are cutting their holiday budgets amid an ailing economy. By most estimates, this holiday shopping season is expected to be the worst in years.
Shoppers in Maryland and across the country spent $41 billion this weekend, or an average of $372.57 a person - a 7.2 percent increase from $347.55 last year, according to figures released yesterday by the National Retail Federation, an industry trade group.
"We'll have to see if this affects the whole holiday season," said Ted Vaughn, a partner in the consumer products industry group at BDO Seidman. "It's a good start, but not necessarily an indication of what will happen the rest of the season."
Shopper Trina Lowe, 41, who lives in Salisbury and works for a school system, said she plans to spend about the same this year on holiday gifts. She hit several shopping sites this weekend including The Mall in Columbia, Dick's Sporting Goods, Target, Wal-Mart and Toys "R" Us.
"It's Christmas," said Lowe, who has two teenagers. "We try to get them the more expensive things that they want."
But Jenn Tawney, a 28-year-old from Perry Hall who works in advertising sales, said she is definitely watching her spending. Companies are buying less advertising, so her business is down. And her investments in the stock market have taken a hit as well.
Tawney described this year's holiday shopping as more of a challenge than in previous years.
"I'm more on a budget than ever before," she said. "I'm more picky. I think, 'Is it really worth it?' I'm spending less on everyone but trying to make it seem like we're not spending less on everyone. It's a real challenge."
Chicago-based tracking firm ShopperTrak RCT said sales increased 3 percent on Black Friday, the nickname for the day after Thanksgiving because it was long responsible for putting merchants' ledgers in the black. This year's growth was down from the more than 8 percent increase recorded in 2007. The group will release its full weekend figures later this week.
