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News Editor
This year retailers won't be the only ones betting big on Black Friday sales.
Bookmaker.com, a leading sports betting Web site, has put together odds on consumer spending habits during this year's Black Friday, the day after Thanksgiving, which has traditionally been seen as the start of Christmas holiday shopping season.
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David Kohl / AP With more eyes on retail this holiday season, a leading sports betting Web site, has put together odds on consumer spending on Black Friday. |
No doubt there are very few days in a retailer's calendar where the stakes are as high as they are on Black Friday. This year will be no exception, and many eyes will be watching to see how consumers are spending as a way of gauging whether the U.S. economy is beginning to pull itself out of its latest slump.
As of this publication, recent odds on Bookmaker suggest that spending will remain solid with between 161 to 180 million individuals heading out to the stores, and spending, on average, between $300 and $400 each at stores and online.
Bookmaker, which has calculated the odds for winners on reality shows such as American Idol, Top Chef and Dancing with the Stars, is looking at the retail sector for the first time.
According to Bookmaker CEO Mickey Richardson, the company has dedicated a team to gather relevant information on the retail sector and base its odds on real statistics from this year and prior years.
"We wanted to figure out the outcome on how spending patterns would behave this year in the U.S...., despite the financial crisis," Richardson said.
Of course, gambling is frowned upon by many people. Nevertheless, many market watchers argue that odds-making venues are a useful prognosticator of possible outcomes.
More from Consumer Nation:
- What's the Forecast from Retailers? Proceed With Caution
- Guest Blog with Vince Farrell: Retailers?
- For Video Game Makers, Stakes Are High for the Holidays
- Slideshow: Video Games on Holiday Wish Lists
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Data is a real-time snapshot *Data is delayed at least 15 minutes