CE Revenue Declined at Start of Season
Revenue for CE retail was measured at $2.7 billion for the week of Black Friday, a drop of 1.2 percent from the same period in 2008. That's according to numbers released this week from the NPD Group’s Weekly Tracking Service.
“Consumers came out this year because there were deals to be had -- the same reason they have been shopping for electronics all year,” Stephen Baker, NPD Group’s vice president of industry analysis, said as part of the announcement. "What made Black Friday different this year is how aggressive those price cuts were. This year retailers and manufacturers knew it wasn’t going to be about increasing revenue, it needed to be about getting consumers excited to shop and moving those products out of the stores.”
Computers were a particularly strong category, with sales volume jumping 63 percent over 2008. And while TV sales jumped 15 percent, aggressive price-cutting led to a 9 percent drop in revenue.