Consumer Confidential: Retail sales rise, video screens shrink, Black Friday expands
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Here’s your my-Sharona Monday roundup of consumer news from around the Web:
--The holiday season is upon us, and already the tea leaves are positive. Retail sales rose for a fourth straight month in October, signaling that consumers are set to do some serious shopping as the economy slowly lurches back to health. Total retail sales increased 1.2% from the previous month to $373.1 billion, compared with September’s upwardly revised 0.7% advance, the Commerce Department said.It was the largest gain since March, when sales spiked more than 2%. I’m thinking that the flat-screen TV I’ve been eyeing for several years now is looking a little more attainable.
--Everyone else, though, is looking at smaller and smaller screens. Comcast is the latest video heavyweight to throw in with a mobile future. The cable giant has unveiled a free iPad app that allows subscribers to watch videos and even program their digital video recorders on the go. Cable companies are terrified that an increasing number of people will cut the cord and rely solely on Internet-based resources for their viewing pleasure. So they’re scrambling to put online options out there before subscribers cut and run. Me, I just can’t wait to watch ‘Lawrence of Arabia’ on my BlackBerry. I’m thinking some of those desert scenes will resemble a flea circus.
--Back to shopping: Wal-Mart is the latest big retailer to say it will expand its hours for next week’s Black Friday consume-a-palooza (link requires subscription). The company says it will open most stores at midnight on Nov. 26, so discount-craving shoppers can storm the aisles and battle one another for a relative handful of price cuts. Wal-Mart has promotions on toys, apparel and home goods. Deals for certain electronics -- including TVs and computers -- won’t begin until 5 a.m. I guess I won’t be making a run on that flat-panel set right away.
-- David Lazarus
