Seriously Reuters, seriously…..

U.S. Black Friday online sales hit record $9 bln despite high inflation- Adobe Analytics

Inflation over the past 12 months, since the last Black Friday, has been what? 8%? 10%? So if sales are absolutely flat, no real increase at all, they will be up by how much nominally?

Online spending rose 2.3% on Black Friday

Real sales are down 6 to 8%.

Sheesh

4 thoughts on “Seriously Reuters, seriously…..”

  1. To be fair, Tim they’ve written about dollars spent rather than the purchasing power of the dollars. It is interesting that despite the call on those dollars in people’s pockets to cover rising everyday costs due to inflation, they’ve still found enough to increase retailing sales in the Black Friday shopping binge. Be interesting to know where the dollars came from. Savings?
    It’s actually pretty close to the public’s perception of inflation rather than economists’. People don’t sit around calculating percentages. They just notice their money doesn’t go as far.

  2. Actually, it’s rational behaviour. With the purchasing power of dollars declining, one might as well enjoy the benefits of “stuff” early rather than later have neither the purchasing power nor the “stuff”. Unlike money the value of the benefits doesn’t change

  3. Are food sales up 10% or are ppl just starving?

    Shouldn’t gas sales be up 10%?

    Or is inflation too noisy to make broad claims like Tim is wont to do?

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