You think you’re going to get a deal this Black Friday? You’ll have to get through the diehards first.
“Are you kidding?” Amanda Willis, 21, shouted into her phone, after secretly making it ring. “Yankee Candle is giving away those big candles for free for the next 10 minutes?!” Most of the hour-long line in front of her fled the J.Crew store at Jersey Shore Premium Outlets to dash over to the candle store. Willis checked out in 15 minutes. “I’m on a schedule,” the college senior and frugal fashion blogger told TODAY with a laugh mixed with both guilt and glee, recalling last year’s ruse.
After waiting for 30 minutes for parking on Black Friday, a guy cut off Tyger Danger, 24, and stole her spot. “I threatened to key his car,” said the Orlando, Fla., public relations executive who flies home annually to shop Black Friday with her family. Since she was girl, her mother has bought her a new Christmas dress each year. “I find the day very stressful,” Danger told TODAY. “As I’ve grown older, I find myself staying away from large crowds, but my mother loves it. She loves the hustle and bustle. She loves the decorations, the energy and excitement.”
Black Friday isn’t what it used to be. There are cops now, organized lines, and claim tickets passed out for the door busters. They’re necessary elements after a Wal-Mart worker was trampled to death in 2008 by uncontrolled crowds. Retailers have gotten better at crafting and marketing stingier deals, too. The day doesn’t even start on Friday anymore, with many stores this year opening at 8 p.m. on Thanksgiving.
Nov. 23 Bloomberg — Every Black Friday, there’s a staring contest between retailers and shoppers over price. This year, the stores may have blinked first.
Chains such as Toys “R” Us Inc. and Gap Inc. are opening earlier and offering more markdowns than ever on the day after Thanksgiving, said Mary Delk, a director at Deloitte Consulting. The result may be higher sales and lower profits for retailers over the holiday season.
“Consumer anxiety has resulted in a frenzy among retailers to compete for market share,” said Delk, who is based in Charlotte, North Carolina. “The inducements and deals are bigger and bolder.”
Wal-Mart Stores Inc. is promoting a two-piece boys’ sleep set featuring Disney characters for $4.47. J.C. Penney Co. will sell $18.88 digital music players and $30 kids’ camcorders. Black Friday shoppers who visit a Sears Holdings Corp. store will receive a coupon book with more than $3,000 in discounts.
Retailers are pouring on the discounts to attract consumers grappling with 9 percent unemployment and a slower U.S. economic expansion than previously estimated. Third-quarter gross domestic product climbed at a 2 percent annual rate, down from a prior estimate of 2.5 percent growth, the Commerce Department reported yesterday in Washington.
Consumer spending, which accounts for about 70 percent of the economy, grew at a 2.3 percent annual rate, little changed from the 2.4 percent initial estimate.
Strange Random Consumer Quote:
“Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body – the producers and consumers themselves.” – Herbert Hoover
- How To Survive (And Conquer) Black Friday (buzz103.radio.com)
- Corn futures up 62 percent (sfgate.com)
- Black Friday on Zazzle is coming! (zazzle.com)
- The nuts and bolts of Black Friday (seattlepi.com)
- Pre-Black Friday retail traffic up 6% (weblogs.hitwise.com)
- Stores Bowing to Black Friday Buyers (businessweek.com)