MSM distorts Black Friday figures  

Posted by Rob Barton in , , , ,

Technorati add to
saved by 0 users

SAN FRANCISCO/NEW YORK (Reuters) - Shoppers lured by money-saving deals filled U.S. stores on Friday, but the annual kick-off to holiday shopping appeared weaker this year as worries about a deep recession kept purchases down.

Just to rebuke the drive by media, which has been saying that Black Friday sales were down today, I thought that I would tell you my experience.

I work at Wal-Mart, and every year for Black Friday I go out and help in Electronics. I work in the office, but my background is in Electronics. We beat our last year sales by 11 am. We sold out of all the televisions that were in the ad for the first time ever. Usually we have a couple dozen left over. After the sale merchandise was gone, the public just kept buying. By the time I got off work at 1:00, most of the regular merchandise televisions had also been sold. One couple bought two 32" Sharp televisions at $498 each, a Philips 19" at $298, and would have bought a $798 37" Sharp television as well if it were in stock.

You would think that an order like that would have gone on the credit card, but to my surprise, when we rang them up they processed the transaction as a debit, so they were actually spending real money.

Why did we do so well? Number one, NO UNION!! Number two, LOW PRICES!! Number three, an executive board that is smart enough to maintain about $7 billion in liquid assets so that credit is not a problem. If you noticed, Wal-Mart also had the foresight to pretty much revamp their business model a few months before the financial crisis really hit. Their message of "Save Money, Live Better" was rolled out at the perfect time to actually capitalize on the situation. (Oh great!! Now we sound like Rahm Emanuel!) I can't believe the company has done as well as it has considering the Secretary of 3am Phone Calls used to sit on the board.

See also:

More Black Friday News
So, who was right about Black Friday?