Black Friday Spending Down Despite Record Shoppers

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Dec. 2 (Bloomberg) -- On today's "The Roundup," Adam Johnson, Trish Regan, Jeffrey Hayzlett and Julie Hyman wrap up the day’s top market stories on Bloomberg Television's "Street Smart." (Source: Bloomberg)

I do ask a lot of questions, they are always tough.

That will be good.

Maybe you can help us to find some information on the following.

Black friday has come and gone, how did we do?

Turns out not well.

For the four-day weekend spending fell an estimated 2.9% to 57 billion dollars.

Shoppers on average were expected to spend $407 billion, down four percent from last year, the first decline since 2009 for the holiday shopping season.

Just coming out of recession back then, in theory we are out of it now, but if you look at these numbers it does not look that way.

But there are some good bright spots.

Amazon was up 25%. the average online order was up 18%. i think a lot of people are shifting and the other thing is i saw a tweet today that someone was offering 35%. people know the sales are coming?

I do not know about you guys, but i started about a week and a half ago.

Hanukkah is half done, my shopping is done, there has not been a lot to talk about -- the hanukkah effect is not huge.

But if you are the kind of person that plans, as you clearly are, you are doing the shopping at of time.

X because my wife gave me my list early and i got on it right away.

People do not want to mess around with that going into the store stuff the day after or the next day, so you go online to check and see where you get the best prices.

What is key here is that the average ticket has gone down.

Jeff was saying that people holding out for deals is very much true.

Does that say something about consumer spending?

Should it say something about the power of the consumer right now?

Demanding these deals?

Like the online order was up by almost 20%. people are shifting that down a little bit but i think it is because like every sale that i saw this past weekend was 50% off.

They were all big sales.

I was like -- why are you opening the doors?

That is the case of everyone is discounting.

If you pull forward to today, i wanted to mention ibm in the last hour coming out with its latest embers and we have been tracking them, they are up 19% for so-called cyber monday.

Up 19%. is cyber monday even relevant?

It used to be that you had slow dial-up service at home so you had to wait until monday until you were back at the office because of the company they had a good computer.

That is why was called cyber monday.

I ordered about 10 things online today or i said to my secretary -- order these five things.

So productive.

That is because of the bargains driven by the retailers , not driven by natural traffic.

I do not shop at work, come on.

I do not shop at work.

If i did, maybe.

Making over $24,000 yesterday on the espn college game day by waiting -- by waving a sign?

Espn cameras caught the poster which said -- hi, mom, send bitcoin.

The internet zoomed on the image, which included a qr code which links to his wallet.

He quickly received 100 transactions totaling more than 22 bitcoins, making him $24,000. i have three words.

Idiots, idiots, idiots.

I want my money back by a government, not by a bunch of guys in a dorm room.

He has the money, right?

At $13 it will be worth $1000 at some point and there will be a bubble bust, it is going to bust and those people losing their rear ends are going to whine and cry and come back and ask -- bail me out.

He already lost a little bit of his investment.

Bitcoin has actually come crashing back down, it is a very volatile currency.

$980? this needs a lot more things put in place before it becomes really real.

I appreciate that the chinese like it, the germans like it, even the fed chairman said that he thinks it could be something cool, i like all those things, but i want my money -- and when i start trading -- maybe i should start with south dakota and start trading docs -- ducks.

I have a question -- how is this even totally legal?

It is almost like a barter system.

Like world war room to with cigarettes.


That is the only way i can get my head around this.

Jerusalem artichokes in south dakota was a big mistake.

I realize there was no market for fessenden -- pheasant.

There are other types of currencies, bitcoin is not the only one.

Let's move away from bitcoin to the pope.

Why not?

He made headlines thanks to a 50,000 word essay criticizing reid, consumption, and the evils of trickle-down economics.

The senior economist at jpmorgan put out a research note that indirectly referenced the pope's argument saying that those concerned about -- about global -- about global poverty have more to be thankful today than to complain about as today's economic system does fail to address the poor regarding several fax.

He goes that -- he goes on to discuss trickle-down economics on a global scale, that rising global wealth has benefited countries on the lower end of the economic spectrum, that was his argument.

That was a fascinating conversation we had on friday with a member of the church, a man of the cloth who tried to put some perspective on it.

I have to tell you, i got so much feedback on that segment.

A father from a local church year talked about the trickle- down economics and the churches view on it and now.

H are men this out for from the people who said they were fascinated, but this analyst making a valid point, that it is not all bad.

Capitalism is not all bad.

Believe me, it has worked pretty well for the united states of america.

At the same time, i have to give the pope credit.

We drink more beer and eat more beef, we are lutheran, we also sing a lot more.

But i like this pope.

I think he is great, doing a great job, living his beliefs, living the brand when you think about it.

To give this message at the time of thanksgiving is the right thing to do.

I like how it comes down to marketing.

When he checks out of that hotel and pays his own bill?


This text has been automatically generated. It may not be 100% accurate.


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