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American retailers remain optimistic about Black Friday sales

By Angela Gonzalez-Rodriguez

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According to a recent poll run by Bank of America, optimism regarding Black Friday sales and benefits is rising amongst small businesses. "We're seeing a dramatic increase in optimism among small business owners in the economy, revenue growth and hiring," said Robb Hilson, Bank of America Small Business executive.

The survey include the opinions of 1,000 small businesses around the US and found most (62 percent) are optimistic about local holiday revenue and just over half (56 percent) are optimistic about the national economy.

Meanwhile, circa one-third plan to apply for business loans in the new year while 44 percent say they have applied for a small business loan within the last two years.

"Even with instability in the global markets and the uncertainty they have about the upcoming election, small business owners are confident and ready to expand their businesses. They are seeing the light at the end of the tunnel, and we commend them for their entrepreneurial spirit and stamina through a challenging economic time,” adds Hilson.

Another research by MasterCard – the latest edition of SpendingPulse - indicates a hike in retail revenue over the Black Friday Weekend. According to their predictions, revenue is estimated to increase about 4 percent year-on-year, with the majority of purchases made in stores.

In fact and according to their data about 92 percent of Black Friday sales will be made in-store with 7 percent being made online.

"Dueling discount days are causing consumers to diversify when they spend, but retailers have seen their strategies pay off," says Sarah Quinlan, SVP, Market Insights for MasterCard Advisors.

Quinlan added that "Bigger question marks surround e-commerce, which remains relatively low except for certain categories. We're also seeing consumers putting their money where their mouth is--literally--as consumers put more of their discretionary dollars toward eating out."

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