Thanksgiving weekend sales for brick and mortar and online retailers fell about 11 percent year over year.
Thanksgiving, Black Friday and holiday weekend sales totaled about $50.9 million this year, down from the $57.4 billion of the same timeframe in 2013, according to preliminary data from the National Retail Federation.
“Executives at the retail federation, which had predicted strong growth in sales this holiday season, appeared at a loss to fully explain the drop-off,” according to an article from The New York Times.
“The results could show that ‘there are a significant number of Americans out there for whom the recession is not yet over,’” says Matthew Shay, the group’s president and chief executive, in the article.
To read The New York Times article, click here.