Population Statistic: Read. React. Repeat.
Friday, November 28, 2008

It happened last year, and it looks like it’s happening again this year: Foreign visitors are boosting Black Friday sales in the U.S..

Maybe not enough to save this recession-plagued season, though:

But with the dollar growing stronger against many major currencies, most stores better not count on a getting as big a boost from foreigners this year, according to Ellen Davis, a spokeswoman for the National Retail Federation.

“Previously, because of the exchange rates, we saw tremendous holiday shopping seasons,” she said. “This year with the weakening global economy, we’re seeing retailers all over the world struggling. Consumers are pulling back.”

Personally, my cousin Mary from Greece is arriving in New York in a couple of days, and high on her agenda is cashing in on the Stateside bargains. So I’ll be seeing some of that Euro-conversion firsthand.

by Costa Tsiokos, Fri 11/28/2008 07:25pm
Category: Business
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