Black Friday continues to break records

Black Friday traditionally helps companies who may have spent the year with more expenditures than revenue balance out yearend figures, and early reports from the Associated Press indicate this Black Friday was certainly no disappointment to retailers – and the struggling economy.

‘Buyers spent $11.4 billion at retail stores and malls, up nearly $1 billion from last year, according to a Saturday report from ShopperTrak. It was the largest amount ever spent on the day that marks the beginning of the holiday shopping season, and the biggest year-over-year increase since 2007.’

For the record, the Chicago-based ShopperTrak gathers data from more than 25,000 stores, shopping centers and other retail establishments from across the United States. According to reports from IBM, which also tracks customer activity, online shopping also did exceptionally well this year, increasing by nearly 25 percent from 2010 Black Friday.

In its second year of existence, the American Express-born Small Business Saturday also launched this past weekend, with big events in 15 cities and countless towns and villages across the country. On Facebook, more than 2.7 million people liked the event, and on Twitter, more than 30,000 tweets scattered about on the web.

Though Black Friday is primarily consumed by box stores, small businesses continue to be the backbone of the U.S. economy. As you continue to purchase gifts throughout this Holiday Season, remember this fact: Between 60 and 80 percent of all new jobs created in our country can be attributed to the nearly 28 million small businesses here in the states.

Hope you enjoyed your Thanksgiving, Black Friday, and Small Business Saturday…and don’t forget about YOUR local entrepreneurs and small businesses this Holiday Season!

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