Despite the projected slowing<
According to a survey by the National Retail Federation, more than 172.8 million adults shopped this weekend, making it the biggest Black Friday weekend ever, with nearly 42.6 percent of those shoppers going out the Friday after Thanksgiving. On average, each shopper spent about $372 this weekend, a 7.2 percent increase from 2007, according to the NRF.
At the same time, PriceGrabber.com, a part of Experian, has
revealed that economic conditions motivate value-driven consumers
which lead to an 11 percent increase in traffic year-over-year on
Black Friday. Data from PriceGrabber.com shows that online consumers are taking advantage of promotions on popular
electronics including: LCD and Plasma TV's, Blu-ray Disc Players, Laptops, and Video Game Consoles.
"Prior to the Black Friday weekend, 71 percent of shoppers intended to spend less money this holiday season compared to last year and 66 percent planned to give practical gifts," said Ron LaPierre, President of PriceGrabber.com. "Thanksgiving and Black Friday traffic shows that value drives consumer spending. Consumers are responding to aggressive promotions and price drops on popular electronics."
Blu-ray Disc players were the third strongest product category (and the strongest consumer electronics product category) in terms of growth in sales relative to Black Friday 2007. According to Pricegrabber.com, Blu-ray Disc players witnessed a 147 per cent increase in sales relative to the same period last year.
According to the Blu-ray Disc Association, in the U.S.
October saw the highest sales volume of Blu-ray movies since the introduction of the format. The BDA reports that US consumers snapped up 2.3 million discs, marking the first time that disc sales have surpassed two million in a single month.
For the year, Blu-ray Disc sales are approximately four times greater than in 2007. Since the format?s introduction, nearly 20 million discs have been sold ? of these 14 million have been sold in 2008.
"Despite the difficult economic climate around the world, we have been gratified to see Blu-ray Disc's popularity grow faster than ever," commented Andy Parsons, Chairman of the BDA?s US Promotions
Committee. "I think the reason for this is obvious: the value that a Blu-ray Disc player provides is unbeatable. You can step up to the spectacular high def experience that Blu-ray provides, as well
as continue to enjoy your current DVD library, all with the same unit. And when times are tough, it's nice to escape for a while and enjoy the best looking, best sounding entertainment available in the comfort of your own home."
The BDA believes that much of the momentum that the Blu-ray Disc format has gained over the Black Friday weekend will be carried forward. An NPD Group report recently noted that nine out of 10 U.S. households now know what Blu-ray is. Among those who are familiar with its features and benefits, purchase intent is
three times higher than the norm. Indeed, 58 per cent of consumers who plan on buying a Blu-ray Disc player are doing so because they have an HDTV and want to optimize viewing of videos.