RetailBlack Friday weekend spending slumpsHoliday shoppers spent less money over the Black Friday weekend than in 2015, another sign that U.S. consumers remain wary about opening their wallets without deep discounts. Shoppers spent an average of $289.19 over the four-day weekend, including both online and offline purchases, the National Retail Federation said Sunday, citing a survey conducted by Prosper Insights & Analytics. The weekend was characterized by heavy markdowns and a shift toward e-commerce, meaning that smaller crowds were at the mall. Although the total number of Black Friday weekend shoppers grew 2 percent, to 154 million, their refusal to spend as much could renew concerns about the sluggish retail economy. They were hoping a strong start to the holiday shopping season would set a more optimistic tone for the industry.

Source: Washington Post November 28, 2016 00:11 UTC