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Black Friday: Retailers cast wary eye on first shopping day of the holiday season
Layoffs. Lost jobs. Shrinking 401ks and investment portfolios. The mortgage implosion. A summer of skyrocketing gas prices and concerns over utility costs as cold winter weather settles over most of the nation. Escalating food prices. A general and broad-based unease about the economy.
All of the above are contributing to a cautionary view of Black Friday, that riotous frenzied day-after-Thanksgiving start of the Christmas shopping season. Stores across the country began offering severe discounts in late October and through most of November; they will now offer even larger price cuts in hopes of salvaging what is shaping up as a bleak Christmas in retail.
Though the usual lines of early bird buyers are expected to camp outside stores where deep discounts and special items will be offered, these shoppers will be choosier and less willing grab, charge it and run. Caution and conservatism are the “buy” words for holiday 2008.
J.C. Penney’s, Kohl’s, Toys ‘R’ Us, Circuit City, Best Buy, K-Mart and other retailers are already offering 40, 50 and even 60% off some merchandise, leaving little wiggle room for further cuts through the four-week long chaos of Christmas shopping. Big ticket items — the TVs, Stereos, Home Theaters, sound systems, computers and such, it is feared, will not fly off the shelves as quickly as in years past.
Not to mention that consumers are already jaded by all those “60 percent off” signs plastered on storefronts. Analysts across the country say shoppers may stick to smaller gifts like cosmetics rather than $1,000 flat-panel TVs in a holiday season that could be the weakest in decades.
Another concern? There aren’t any must-have items so far, even in toys —nothing that can be classed as a “show stopper” or “must have.” Even the over-extended shopping hours are being curtailed in some chain stores, a move that cuts operating costs to offset any slump in sales.
While the Black Friday bottom line won’t necessarily prove a poor season ahead, it will set a trend that retailers don’t want to see: conservative shopping. Black Friday and the ensuing weekend of shopping can account for as much as 10% of a store’s annual revenues for the holiday season; prognosticators say the Black Friday sales will be good…it ’s rest of this Christmas season they are worried about.
About Christine Anne Piesyk 
In my 40+ years in media, I have worked as feature writer, investigative reporter, editor, publisher, and film/theater/arts critic. I brought my liberal New England activism to Tennessee several years ago, having finally completed a mid-life undergraduate degree in community organizing and women's studies, and an MA in Interdisciplinary Arts with a concentration in Alzheimer's Disease. I served on Future Search Commissions for two colleges and on homelessness for the City of Northampton (MA), where I applied some of my undergrad work in urban planning and community development. I am a member of FreeThinkers for Peace and Civil Liberties. I am a certified storm spotter just because weather fascinates me. In my spare time (define spare time please?) I am a voracious reader, obsessive movie buff, ballroom dancer, and classical music junkie. I also create sci-fi/fantasy and renaissance costumes. I see life as an ongoing opportunity for learning and adventure (one current interest is mastering preparation of foods from India and Southeast Asia). My dream: a return trip to Machu Picchu. After all, the best things still to come. All posts by Christine Anne Piesyk as presented on Clarksville Online are copyright ©2006, 2007, 2008 to the author.
Email: womanspeak@gmail.com
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Best Buy, Black Friday, Circuit City, holiday shopping, J.C. Penney's, K-Mart, Kohl's, retail sales, shrewd shopping, Toys "R" UsOne Response to “Black Friday: Retailers cast wary eye on first shopping day of the holiday season”
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November 25th, 2008 at 8:01 pm
Just came back from walking the lights. We opted out of going to all the pre-light events because its so cold. But despite the cold, it seemed to be a good turnout.