Analyst predict mixed results on "Black Friday" sales
With the downturn in the economy, consumer spending has hit new lows over the past few months. That makes the holiday shopping season even more important to stores.
Holiday spending has some analyst predicting mixed results.
CBS retail analyst Dana Telsey shares some insight on how merchants fared on "Black Friday."
"Black Friday has always been the busy shopping day of the year after the Saturday before Christmas. With 10.3 billion dollars in sales being generated last year on Black Friday, a 12% increase on traffic last Black Friday, those are tough numbers to beat," saild Telsey.
ShopperTrak RCT, a retail industry research firm, says total Black Friday sales rose 3% this year, to about $10.6 billion nationwide.
Telsey credits deep discounting for a lot of the sales increases. She says stored like Walmart who offer lots of sales will be successful.
The official numbers aren't expected until tomorrow and Monday.
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