Holiday shopping stimulates the economy

This year’s Black Friday weekend was money green. According to the National Retail Federation, costumers spent more this year than last year.

American consumers spent $45 billion in stores and $1 billion during Cyber Monday.

David Cho, assistant professor of finance, said this was an indication of the state of the country’s economy.

“In order for the economy to grow, people need to spend money,” he said.

Cho said that more than 70 percent of the year’s revenue comes from consumer spending — even with the discounts.

“As long as retailers are efficient, they may end up doing better than previous years,” he said.

This year, online shopping was the biggest it’s ever been. Cho said this was because of the convenience of online shopping.

“Cyber shopping allows con-sumers to shop more efficiently. They can compare prices easier that going to different stores,” he said.

Daniela Zitzmann, junior biology major, said this year’s Black Friday success may be attributed to good marketing.

“I think it’s all about the advertising. People see posters that say 75 percent off but it is not true — at least that’s what I saw on Black Friday,” she said. “But people get into that shopping mood and go crazy.”

Michelle Garcia-Casals, sophomore biology major, said she did not think holiday shopping helped improve the economy overall.

“I think it helps a little bit, maybe for two months, but then the other 10 months, it’s bad again,” she said.

An addition to the shopping weekend was Small Business Saturday, which was introduced this year as an incentive for costumers to support locally-owned businesses.

Tamara Pino, senior environmental science major, said, “I didn’t hear about it but I think it’s a good idea because those are the people that need it.”

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