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Sound familiar? For some these words were all too familiar and quite loud on Black Friday this year. And while many retailers, large and small reported that floor traffic was up, some trends are getting people worried, namely the drastic reduction in the average selling price of the previously premium flat panel category. Once the savior of the television category, retailers saw prices dip well below $1,000, spurred on by a charge on the vendor side to unload product, and the willingness of big box and national discount chains to take a loss on TVs, just to get shoppers in through their doors.
And the consumer did flock. All over the country there were reports of lines at 4:00 AM, just to get a chance on snagging the limited quantity of a discounted TVs. But was it really as hot has some have assumed. According to the NPD Group’s most recent weekly point-of-sale (POS) data for the week ending November 25, consumer technology retail sales grew nearly 12 percent to over $2 billion. But while the year-over-year dollar volume is growing, it’s doing so at a slower rate, according to the group.