US shoppers reach record number during Black Friday weekend

26 November 2012 21:46  [Source: ICIS news]

HOUSTON (ICIS)--A record 247m US shoppers visited stores and websites during the Black Friday weekend and an estimated 129.2m said they plan to shop online for Cyber Monday, a retail trade association said.

From Friday through Sunday, shoppers spent an estimated $59.1bn (€45.5bn), up from $52.4bn year on year, said the National Retail Federation (NRF), a trade group.

Black Friday is the day after the Thanksgiving holiday when many retailers offer discounts to kickstart the holiday shopping season. Some retailers offer promotions through Sunday, and in recent years, stores have started opening on Thursday for an early start.

Almost 58% of shoppers said they bought clothing and accessories, while 37% bought electronics, the NRF reported in a survey completed by BIGInsight.

More than 34% said they bought toys, and almost 40% bought books, CDs, DVDs, videos or video games, the report said.

As more customers prefer to stay away from the crowds and shop online instead, retailers are offering more specials during Black Friday’s Internet equivalent, Cyber Monday.

About 85% of retailers will have promotions for Cyber Monday, and this year’s crowd is expected to be higher than last year’s 122.8m.

Chemicals are a key component in certain holiday gifts, and stronger demand could boost the US chemical industry.

According to the American Chemistry Council (ACC), chemicals make up about 33% of the value of inputs used to make semiconductors, which are widely used in cell phones, computers and MP3 players. Computers, including printers and modems, have a 10% input value.

Chemicals also make up about 38% of dolls, toys and games, as well as 34% of CDs and DVDs, the ACC said.

In addition, several polymers are used in packaging, such as polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polyvinyl chloride (PVC), nylon and expandable polystyrene (EPS).

($1 = €0.77)

By: Tracy Dang
+1 713 525 2653

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