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Initial Kickoff to the holiday shopping season appears to pay off for retailers, who bet correctly that extended late into the evening hours will attract more bargain hunters for the annual Black Friday extravaganza.
Shopping frenzy, though marred by the pepper spray incident in Southern California, bodes well for consumers increased spending as the year draws to a close. This will be the latest in a series of modest economic improvements are still trying to shake free of the effects of the prolonged recession of 2007-09 destroyed.
“People have many years of recession that they want to spend money and feel good about themselves,” said Ron Friedman, an expert in retail advisors and accounting firm Marcum in Los Angeles. “And many people have put aside some money and pay off their credit cards more, so people can spend a little bit more than last year.”