U.S. shoppers spent more money collectively, but scrimped individually on Black Friday, the kickoff of the holiday shopping season, The New York Times said.

Retails sales for the day came in at 8.3 percent higher than for the same day in 2006, the research firm ShopeprTrak RCT reported. That was the biggest year-to-year increase in three years, the Times said.

However, a survey conducted for the National Retail Federation found that shoppers spent an estimated $348 each -- down from $360 the previous year.

The two reports suggest consumers were looking for bargains and deep discounts -- the kinds of conditions more likely to be found at Wal-Mart and Best Buy than at retailers such as Nordstrom and Abercrombie & Fitch, the Times said.

"American consumers are trying to outsmart the stores and wait for desperation discounts," retail consultant Burt Flickinger told the newspaper.

Retail sales growth is expected to have its weakest year since 2002, largely because of rising energy costs, sagging home prices and a tighter credit market, the Times said.  // Copyright 2007 by United Press International



Publication date: 26 November 2007   

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