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57 Million Americans Definitely Plan to Shop on Black Friday
Reuters reports that a National Retail Federation polls has found that 57 million consumers will definitely be shopping after Thanksgiving. Another 77 million are considering it but will make sure the deals are good enough before they commit.
The poll by the National Retail Federation on shopping plans for the three days after the Thanksgiving Day holiday -- Black Friday, Saturday and Sunday -- found 57 million consumers definitely planning to hit the stores.
Another 77 million said that before heading out, they would make sure retailers were offering big enough discounts.
That is up from last year's survey in advance of Black Friday, when 49 million consumers said they planned to shop and an additional 79 million said they might if promotions were tempting. Holiday sales in 2008 turned out to be the worst in nearly four decades in the midst of a global financial markets crisis.
It sounds like the widespread publicity and media discussion of Black Friday is motivating shoppers to take a trip to the mall. There are more stores opening at midnight this year which will make Black Friday shopping easier for night owls who really don't want to get up at the crack of dawn.
Posted on November 24, 2009
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More Black Friday Shoppers Expected This Year
Those rushing to malls and stores early on Black Friday should expect bigger crowds than last year. Reuters reports that a study conducated by the International Council of Shopping Centers (ICSC) and Goldman Sachs found 16% of people will begin shopping the day after Thanksgiving this year. That percentage is higher than any of the previous three holiday seasons.
Some 16 percent of respondents said they'd begin their holiday shopping the day after U.S. Thanksgiving this year, up from 10 percent in 2007 and 2008 and an earlier high of 13 percent in 2006, according to a holiday spending survey from the International Council of Shopping Centers and Goldman Sachs.
Reuters notes that the ICSC has been more bullish than other holiday shopping forecasters this year.
The ICSC has forecast holiday sales to rise about 1 percent to 2 percent this year in one of the more bullish predictions.
"ICSC Research thinks the holiday spending performance will be better than these pre-season consumer expectations, which is often the case following business cycle turning points in the economy," said Michael Niemira, ICSC's director of research and chief economist, in a statement.
The ICSC Research could be wrong. The economy has not turned around from a consumer's perspective. Layoffs are still increasing and salaries and bonuses have not increased. The stock market has climbed some since the beginning of the year which could make some consumers with larger portfolios less nervous about spending more this holiday season.
Posted on November 11, 2009
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