Black Friday Sales Rise on Busy Shopping Day

Retail sales in the U.S. on Black Friday, which kicks off the 2006 holiday shopping season, are estimated to total $8.96 billion a 6 percent rise compared to Black Friday 2005. Despite concerns that this year consumers will increase their purchases a moderate 4.5 percent.

The sales figure, released by ShopperTrak RCT, which tracks total sales at more than 45,000 mall-based retail outlets across the country, sends hope to retailers that count on this time of the year to propel annual sales into the black.

Early morning lines formed outside many shops, as many consumers braved cold weather. Retailers kicked off Black Friday sales earlier than ever this year, with some welcoming eager shoppers as early as midnight.

“Retailers went all out this year with exciting promotions and big sales to bring in shoppers,” said NRF President and CEO Tracy Mullin. “Many stores offered substantial savings on big-ticket items for consumers and it seems that, for many shoppers, the deals were simply too good to pass up.”

Among the deals was a one-carat diamond circle pendant for $99 at one store, while Amazon offered discounts of up to 60 percent on jewelry and watches.

But electronics and toys were the most sought after items, and retailers offered big bargains on high definition televisions, life-sized robots, mp3 players.

“Though retailers know the holiday season is far from over, they are encouraged by the amount of excitement and traffic that their Black Friday promotions have generated,” said Mullin.

Tomorrow (Monday) online sales are expected to shoot up as people return to work after the weekend. According to an NRF survey, 47.1 percent of U.S. consumers plan to shop online during the holiday season, up from 36 percent three years ago.

NRF estimates now that holiday sales will rise 5 percent this year to $457.4 billion. IDEX Online Research analyst Ken Gassman estimates jewelry retail sales to rise 4.5 percent this season.