Money Matters, Simplified.
What's in stores this Black Friday?
by Ishita Sood - November 25, 2009 - comments
Close to 77 million shoppers would be venturing out in stores this Thanksgiving, up from last year's 49 million
New York, November 25 -- According to a recent poll by National Retail Federation, more than 134 million U.S. customers are expected to shop this coming Thanksgiving weekend.
Shopping plans for the three days after Thanksgiving Day holiday include Black Friday, Saturday, and Sunday. Black Friday--the starting day of traditional holiday season--expects to give a kick to sales.
The holiday season in 2008 was mostly characterized by the financial crisis, a weak economy, and rising unemployment. These were the reasons it was the worst season in nearly four decades!
E-commerce spendings to rise
Customers will be thronging the stores a lot this season, but many plan to shop from home. A report from NPD Group indicates that most of the customers may not be visiting malls but may be purchasing online.
Marketing research firm comScore also expects holiday e-commerce spendings to rise by 3 percent in the nation.
Many consumers choose to go online for the simple fact that they would save the time and effort that is actually involved in going to a retail outlet.
"I was expecting to be bored by the Black Friday deals this year, but the stores have been very competitive," said Brad Wilson, founder of Gottadeal.com.
Retail giant Walmart, which has been on an online price war with Amazon.com since long, on Monday announced 50 online specials on Thanksgiving Day, including electronics, video games, and toys.
Cyber Monday, a popular concept after Thanksgiving (refers to the Monday after Thanksgiving), will have special promotional offers this year. Retailers plan to entice buyers by giving special promotional offers which buyers are not able to find in stores.
Customers safety "a key priority"
The retailers earn a large portion of their revenue on Black Friday, making it difficult for the shoppers to access the stores. Recent events in various retail outlets have led to stampedes and horrible acts of violence, prompting the retailers to aim for higher safety of their customers.
"Consumers are already worried about the economy and losing a job. The last thing they need is to worry about breaking a foot [during a stampede] or worse," said Craig R. Johnson, president of Customer Growth Partners.
Markets are expected to be slow this Thanksgiving.
Shawn Kravetz, president of Esplanade Capital LLC, said, "Less bad and even encouraging sales will lead to decent profits. However, expectations and stock prices have generally gone slightly further than 'decent' and therefore the holiday will be underwhelming."