Colorado shoppers continued their post-Thanksgiving Day bargain-hunting bonanza Saturday, as retailers remained hopeful that strong sales this weekend would kick-start the crucial holiday shopping season.
At malls, discount retailers and boutique shops throughout Colorado, consumers greeted the traditionally hectic shopping weekend with a mix of exuberance, caution and exhaustion.
“We’ve already spent more today than we anticipated,” said Kristine Grass, 36, who strolled through FlatIron Crossing mall in Broomfield with daughter Kaitlyn, 4, on Saturday. “We’ve found some pretty good deals.”
Grass, like many others, shopped Saturday to avoid the typically enormous crowds of “Black Friday,” the name given to the day after Thanksgiving because it’s when retailers’ budgets move from red to black for the year.
For the most part, analysts predicted Colorado’s retail industry will mirror the national market, with sales expected to increase 5 percent to 6 percent compared with 2004.
Last year, U.S. consumers spent $22.8 billion the weekend after Thanksgiving. Current estimates peg this weekend’s sales at $24.2 billion, with as many as 130 million consumers hitting the stores, according to the National Retail Federation.
“This will go down as one of the earliest and most promotional Black Fridays in history,” said Tracy Mullin, the group’s chief executive. “Many stores opened earlier than ever before, and retailers offered unbelievable sales and discounts to get people shopping.”
But according to ShopperTrak RCT Corp., which tracks total sales at more than 45,000 retail outlets, overall sales Friday were relatively unchanged compared with a year ago.
The Chicago-based research group reported total sales Friday at $8 billion, down 0.9 percent from a year ago.
“Although the Black Friday number is a bit flat, this may be misleading, as we’re comparing this to a very strong 2004 performance,” Michael Niemira, chief economist and director of research for the International Council of Shopping Centers, said in a statement.
Driving some of the shoppers are hot items like Microsoft’s Xbox 360 gaming system, something that will be hard to find between now and Christmas, said Mark Nelson, 46, store executive at the SuperTarget in Glendale.
At least one enterprising youngster hoped to parlay the gaming system’s popularity into handsome profits.
Zak Griffler, a 15-year-old from Superior, pre-ordered his Xbox and plans to sell it on eBay a week before Christmas for as much as $1,000. The system has a suggested retail price of $399.
“It’s the Christmas item of the year,” said Griffler, who on Saturday morning played an Xbox demo at GameStop in Superior. “Everyone wants one, so people are willing to pay more for it.”
Other hot items included Denver Broncos memorabilia, largely the result of the team’s 9-2 record.
The Fan Fair store at the Town Center at Aurora saw sales increase by 33 percent Friday compared with the same day a year ago, store manager Renee Young said Saturday.
“It’s a lot better,” she said. “Last year, there was no one walking around.”
Town Center completed the first phase of a $100 million renovation this year, but Young said the renovation did not lead to an increase in sales. Instead, she noted that an improving economy and lower gas prices may have helped increase traffic.
Other business owners were less optimistic.
“Shoppers are nervous, and I’m nervous,” said Jessica Lu, owner of The Jade Touch, which sells clothing and other items from China at a booth at FlatIron Crossing. “This is slower than last year.”
Lu said she hoped to sell, after taxes, more than $2,000 worth of merchandise during the two days after Thanksgiving.
Lu reported $700 in sales Friday. Slower foot traffic Saturday was a cause for concern, prompting Lu to lower her prices.
“I don’t want to give up, but I don’t want to waste my time out here either,” Lu said.
The Associated Press contributed to this report.
Staff writer Will Shanley can be reached at 303-820-1260 or wshanley@denverpost.com.
