We all know about Black Friday right? In spite of the occasional pepper spray attack or parking lot shooting, the day after Thanksgiving is the first chance retailers have each year of getting in “the black” or turning a profit. Retail stores (i.e. Wal-Mart) operate at a loss most of the year, hoping to come out ahead between Thanksgiving and Christmas. Two-thirds of our economy is retail. Let me repeat that; two-thirds of our economy – the largest in the world – is in the retail market. Massive government spending and business incentives may help a faltering economy, but only consumer spending can bring us back.
Cyber Monday was a laughable notion just a few years, but is definitely a real thing now. Americans made $1.2 billion worth of Internet purchases yesterday. That’s a 26% increase over last year. If the Black Friday/ Cyber Monday spending trend continues, it could mark a real turning point in this recession.