The holiday shopping season officially kicks off at the end of the month, and it’s not just U.S. retailers who are expecting unprecedented Black Friday sales, according retail research firm Conlumino.
Early reports from the National Retail Federation indicate a disappointing Black Friday weekend for U.S. retailers. Previous forecasts expected Black Friday sales to achieve record numbers, but according to the Thanksgiving Weekend Spending Survey conducted by Prosper Insights & Analysis, weekend sales actually dropped by more than 5 percent.
The holiday shopping season officially kicks off at the end of the month, and U.S. retailers are expecting Black Friday sales to eclipse $36.7 billion, according to a recent report by IBIS World Reports. If the forecast holds true, it will be the highest Black Friday sales in history and a near 2 percent increase over last year.
The official start to the holiday shopping season drew bleak numbers for retailers pushing the big Black Friday buildup.