New York City, Let the deluge of holiday-season statistics begin.
A National Retail Federation survey conducted by BIGresearch found that the average shopper spent $265.15 this weekend, bringing total weekend spending to $22.8 billion.
That amount represents more than 10% of the $220 billion expected in total holiday sales this year. Though Black Friday weekend was a success for many retailers, stores recognize that the bulk of holiday shopping is yet to come.
National survey firm ShopperTrak reported Black Friday sales rose an estimated 10.8% to $8 billion.
Averaging both Friday and Saturday, Visa USA reported that volume on its credit cards rose 14.3% over the same time last year.
MasterCard International said that Thanksgiving weekend sales volume on its cards increased 9.3% over last year.
On the less-optimistic side, Wal-Mart Stores lowered expectations for November same-store sales to an increase of 0.7%—down from 2% to 4%. The company will release its figures on Thursday.
And according to market research firm ACNielsen, 28% of U.S. consumers say they have no extra money to spend.
Of course, these statistics are just the beginning.
"Retailers know that the holiday season is not a sprint, it’s a marathon," said Tracy Mullin, NRF president and CEO. "Black Friday weekend is just the beginning of a month-long race to the finish line."