Reuters: "US Black Friday sales rise 2.5% -Mastercard Spendingpulse" Bit of a deceptive headline as this number was not adjusted for inflation. Including inflation, retail sales on Black Friday were negative year-on-year. Not a surprise to me. reuters.com/business/retai…
@htsfhickey Adjusted for which inflation? BC real inflation is much lower than CPI has been showing...
@htsfhickey The leverage in the system is paid for in nominal. We live in a nominal world.
@htsfhickey I have a friend who is a regional director for a large food distribution company. He told me people are definitely changing their food purchasing habits and they are spending less on food. The crimp in the wallet is here.
@htsfhickey True, but they are never adjusted for inflation, so you could probably say that every year. Same with corporate revenues, etc.
@htsfhickey I have no data but it seems that as online sales as a % of total sales continues to climb, that higher online sales each year is not particularly meaningful anymore
@htsfhickey Huge miss from 3-4% increase expectation
@htsfhickey What a circus. The average Joe will only see "sales rise" and totally miss the "not adjusted for inflation". That they covered themselves by saying it shows how stupid they think people are. Can't say they are wrong on that assessment.