The Nintendo Wii is once again proving to be a hot seller this holiday season.
The video game console was the most popular product on Black Friday, according to PriceGrabber. The Wii also led the way as the most searched-for product on eBay, followed by Wii Fit.
PriceGrabber maintains that discounts on popular electronics contributed to a jump in online sales.
"Prior to the Black Friday weekend, 71 percent of shoppers intended to spend less money this holiday season compared to last year and 66 percent planned to give practical gifts," said Ron LaPierre, president of PriceGrabber.com. "Thanksgiving and Black Friday traffic shows that value drives consumer spending. Consumers are responding to aggressive promotions and price drops on popular electronics."
However, Bill Martin, co-founder of retail industry research ShopperTrak, warns that while the positive start to the season proves a willingness to spend, the markdowns will not last forever.
"While this is an encouraging start for retailers, there's no guarantee these deep discounts will continue after Black Friday weekend, which could slow spending," Martin said in a statement. "Additionally, consumers have just 27 days to shop this year as opposed to 32 in 2007, which may catch some procrastinating consumers off guard, leading to lower sales levels."
