You would think that since more and more retailers are not waiting for “Black Friday” anymore and starting holiday shopping deals on Thanksgiving day.
Well this new trend didn’t seem to pay off during this year’s Black Friday shopping. Sun Trust wrote in a report that Thanksgiving day shopping has been a bust for merchants.
Here’s some of what Sun Trust published in their notes:
“We believe Thanksgiving shopping was a bust. We note that traffic seemed below last year both on- and off-mall. Members of our team who went to the malls first had no problem finding parking or navigating stores. Crowds were tame and, with some exceptions there seemed to be more browsing than buying and less items purchased.
We heard many people discussing that deals were not that compelling compared to years past. Interestingly, many retailers closed at midnight- which contributed to a sharp decline in traffic shortly thereafter. Off-mall, members of our team visited Walmart and Target for the openings and had no problem finding parking. Customers at both were focused on electronics.
Lines, even early, were about half of what they were last year and quickly dissipated. The only off-mall big box retailer we visited with consistently long lines and customers making multiple item purchases was Kohl’s where buys were focused on deals not available online.”
I believe that Black Friday shopping should be left for Friday myself. I think spending time with family during the day eating some delicious food and watching some good football games is how Americans should spend their Thanksgiving.
For those hardcore Black Friday shoppers they can carry on the tradition of waiting outside stores for that late night shopping spree that many wouldn’t bother to venture into. Starting the sales earlier would theoretically attract more shoppers but probably not more buyers. Just because you open the stores earlier and attract more shoppers does not remove the skepticism that only 1 or 2 items will yield deep discounts.
I know I wouldn’t want to fight the crowds and end up missing out on being one of the few that actually got an awesome deal. For those of you that missed out on the great deals you find that you are being offered deals and discounts that you could get pretty much throughout the year by simply shopping online and signing up for deals of the day promotions that are offered at a number of various online retailers. Cyber Monday, which is like Black Friday for the internet, has also increased online shopping and further reducing the hassle of going out to the brick and mortar stores.