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Retailers are expecting end of the year activity to be down for 2012. So, in an attempt to boost traffic, many chains have extended traditional Black Friday – the day after Thanksgiving – into Thursday.
The National Retail Federation predicts holiday sales revenue, representing the final five weeks before Christmas, a time period when the bulk of annual retail income is made, will be 1.5 percent less than 2011 sales for the same period.
Wal-Mart is facing a potential walkout by workers angered at being scheduled to labor on Thursday but plans to begin a series of special product line sales begin Thanksgiving Day at 8 p.m.
Target will open Thursday at 9 p.m. Added “door buster” specials will begin at Friday at 5 p.m.
“We’ve heard from our guests that they look forward to kicking off their holiday shopping with deal hunting on Thanksgiving night,” Target Executive Vice President Kathee Tesja said in a news release. “Guests can shop with confidence throughout the entire holiday weekend, knowing that Target offers incredible value on items for decorating, entertaining and gift giving.”
Toys R Us opened at 9 p.m. during the 2011 season, but has pushed that up to 8 p.m. this year. Sears will also offer door buster specials Thursday at 8 p.m., according to the NRF.
A survey conducted by the NRF found that 147 million people plan to shop either at stores or online during the Black Friday weekend. That number is a decrease from the 152 million in-person and virtual shoppers listed prior to the extended Thanksgiving weekend of 2011.
“Though the Black Friday tradition is here to stay, there’s no question that it has changed in recent years,” NRF CEO Matthew Shay said in a printed statement. “It is critical for retail companies to constantly evolve as customers do, and right now shoppers want great deals, good value and convenience – exactly what we’re seeing with this season’s late and early openings, price matching, [a return of] layaway and mobile offerings.”
On the other end of beginning Black Friday on Thursday, the Small Business Administration has launched a program to promote Small Business Saturday.
“In the midst of Grey Thursday, Black Friday and Cyber Monday, we would like to remind everyone to shop for the best deals on Small Business Saturday on November 24,” Terrebonne Economic Development Authority Community Development Specialist Shannon Rhodes said. “Local business owners often give back to our community through volunteer and charitable organizations. This is a great time for the community to give back to them for their dedication.”
Retailers have not given Sunday any official designation, but intend to continue offering specials.
The fastest growing segment of consumer activity during the past three years has been what is known as Cyber Monday. Hundreds of retailers offer thousands of deals with Deal of the Hour features beginning Friday.
Cyber sales deals of the hour are being offered by Sears.com, Macys.com, BarnesandNoble.com and several other retailers.
The NFR said it would announce Cyber Monday promotions on Sunday. Rhodes said this is another opportunity for local businesses because it offers them an opportunity to compete with large retailers online. “TEDA encourages all small businesses … using social media to incentivize shoppers.”
According to a BIGinsight monthly consumer survey, the largest population segment (49.6 percent) expected to hit the stores during Black Friday weekend are shoppers between the ages of 18 and 34. Shoppers ages 35-44 that said they would definitely shop on the days immediately following Thanksgiving account for 36.7 percent of respondents.
The remaining shopping population for Black Friday weekend dwindles with age. Among those in the age group of 45-54, only 28.1 percent said they would definitely be shopping during the weekend, that number dropped to 17.9 percent for people in the 55-64 age group and represents only 9.8 percent of people 65 and older.
Men stating they would definitely shop on Black Friday weekend account for 34.3 percent of those questioned, while 28.8 percent of women said they would battle crowds for what they view as good deals.
Regionally, some Americans are more likely to shop during the holiday retail blitz based on where they live. Of those questioned 33.6 percent of shoppers planning to hit the stores live in southern states. Additional percentages of shoppers include 30.2 percent in the North, 30.5 percent in the Midwest and 30.1 percent in West.
Customers walk into Target on Martin Luther King Boulevard in Houma. Target will open at 9 p.m. Thankgiving night for its Gray Thursday sales.
