13292 Fri, 12/14/2007 - 1:53pm
PORT WASHINGTON, N.Y.--Black Friday was pretty ho-hum, according to consumer and retail information provider The NPD Group. The firm's weekly retail point-of-sale data for the week ended Nov. 23 showed that sales grew by 6 percent over 2006 to $2.2 billion--less than one-half of last year's growth rate.
It's the first time in the six years NPD has tracked this data that dollar-sales growth slipped below double digits.
Still, "While revenue growth declined this year, we're at least seeing a more rational pricing environment than last year, as well as a more stable competitive outlook," said Stephen Baker, vice president of industry analysis for The NPD Group. "This is most certainly a positive harbinger of expected profitability throughout the holiday season, even if it calls growth prospects into some doubt."
Digital frames were among the top-selling products during Black Friday.