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Promotions, Tradition Lure Black Friday Shoppers
Updated: Friday, 26 Nov 2010, 9:16 AM MST
Published : Friday, 26 Nov 2010, 9:16 AM MST
Published : Friday, 26 Nov 2010, 9:16 AM MST
By Karen Talley
(Wall Street Journal) - Special sales and a sense of tradition pushed American shoppers out the door early Friday, the day after Thanksgiving, customarily seen as the start of the US holiday shopping season.
Lines wrapped around stores and parking lots across the nation as shoppers sought early-morning deals, especially on consumer electronics and toys. About 138 million Americans were expected to go shopping this weekend, and the Friday after Thanksgiving -- referred to as Black Friday for the profit it can deliver retailers -- was expected to be the busiest shopping day of the year.
"We're off to a strong start," said Jerry Storch, chairman and chief executive of Toys "R" Us. He noted that most Toys "R" Us locations across the country were reporting more customers than last year waiting for the stores to open. "I believe customers are opening their wallets more than last year," Storch said. "Prices are low, and retailers are eager."
Retailers' eagerness for shoppers was reflected in the sharp discounts they offer to lure customers early on Black Friday. Many apparel retailers -- like Gap and AnnTaylor Stores -- were offering blanket discounts during the early morning hours, while retailers like Walmart Stores, Target and Best Buy were offering deep discounts on popular consumer electronics.
Unfortunately for shoppers, the high profile sale items often do not last long. Shopper Henry Diaz got in line at a Target in Hackensack, N.J., at 3:30 am local time, 30 minutes before the store opened, but was still not early enough to secure the 40-inch high-definition television sold at $298, a saving of more than $250. Nonetheless, he found other items to purchase. "You want to save a couple bucks," Diaz said.
"No one goes out at 5 am [local time] for a sweater, but if you put an iPad on sale or 3D TV, you can count on long lines," said Craig Johnson, president of Customer Growth Partners, a retail research firm.
Some $447 billion will be spent during the holiday season, up 2.3 percent from last year, the National Retail Federation predicted, with Black Friday weekend seeing about $41.2 billion in business.
Read more: Wall Street Journal
Lines wrapped around stores and parking lots across the nation as shoppers sought early-morning deals, especially on consumer electronics and toys. About 138 million Americans were expected to go shopping this weekend, and the Friday after Thanksgiving -- referred to as Black Friday for the profit it can deliver retailers -- was expected to be the busiest shopping day of the year.
"We're off to a strong start," said Jerry Storch, chairman and chief executive of Toys "R" Us. He noted that most Toys "R" Us locations across the country were reporting more customers than last year waiting for the stores to open. "I believe customers are opening their wallets more than last year," Storch said. "Prices are low, and retailers are eager."
Retailers' eagerness for shoppers was reflected in the sharp discounts they offer to lure customers early on Black Friday. Many apparel retailers -- like Gap and AnnTaylor Stores -- were offering blanket discounts during the early morning hours, while retailers like Walmart Stores, Target and Best Buy were offering deep discounts on popular consumer electronics.
Unfortunately for shoppers, the high profile sale items often do not last long. Shopper Henry Diaz got in line at a Target in Hackensack, N.J., at 3:30 am local time, 30 minutes before the store opened, but was still not early enough to secure the 40-inch high-definition television sold at $298, a saving of more than $250. Nonetheless, he found other items to purchase. "You want to save a couple bucks," Diaz said.
"No one goes out at 5 am [local time] for a sweater, but if you put an iPad on sale or 3D TV, you can count on long lines," said Craig Johnson, president of Customer Growth Partners, a retail research firm.
Some $447 billion will be spent during the holiday season, up 2.3 percent from last year, the National Retail Federation predicted, with Black Friday weekend seeing about $41.2 billion in business.
Read more: Wall Street Journal
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