"Black Friday" was once known as the day that determined holiday shoppers awoke before dawn to get in line at their favorite retailer for once-a-year discounts.
In recent years, however, Black Friday has morphed into a month-long retailing bacchanalia that's defined by extended in-store hours, Internet-only deals and smartphone-user specials.
The National Retail Federation estimated that 138 million shoppers would hit stores this weekend, and merchants hoped this shopping weekend would mark the full-fledged return of the formerly reticent U.S. consumer.
Black Friday
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Question of the Week: Black Friday Shoppers Go Online For More Deals, Fewer Crowds
Cyber Monday: The "Online Black Friday" Signals Shift in U.S. Holiday Shopping Trends
U.S. retailers are hoping consumers' growing shift to online shopping will carry Black Friday's spending momentum through this week, which kicked off with Internet-only deals and discounts on yesterday's "Cyber Monday."
The Monday after Thanksgiving in the past few years has evolved into one of the biggest online shopping days of the year. The number of Cyber Monday shoppers has almost doubled in the past five years, from 59 million in 2005 to an estimated 106.9 million in 2010, according to the National Retail Federation (NRF).
Last year, shoppers spent $887 million on Cyber Monday, according to research firm comScore Inc. (Nasdaq: SCOR), and analysts expect a higher turnout this year.
The Monday after Thanksgiving in the past few years has evolved into one of the biggest online shopping days of the year. The number of Cyber Monday shoppers has almost doubled in the past five years, from 59 million in 2005 to an estimated 106.9 million in 2010, according to the National Retail Federation (NRF).
Last year, shoppers spent $887 million on Cyber Monday, according to research firm comScore Inc. (Nasdaq: SCOR), and analysts expect a higher turnout this year.
Retailers Report Disappointing Increase in Their In-Store Black Friday Sales, Despite Solid Jump in Online Results
Steep discounts in November and a surge in online purchases meant that retail sales moved only slightly higher on the opening day of the 2010 holiday shopping season - despite a nice increase in the number of shoppers who crowded retail stores.
Retail spending hit $10.69 billion on Black Friday, the traditional start of the holiday shopping season, a 0.3% increase from the $10.66 billion in sales recorded on the day after Thanksgiving last year, reports ShopperTrak, a Chicago-based retail firm that tallies sales in more than 70,000 retail locations around the country.
However, ShopperTrak said the sales total was still a Black Friday record. The researcher is standing behind its prediction that holiday-season spending will rise 3.2%.
Retail spending hit $10.69 billion on Black Friday, the traditional start of the holiday shopping season, a 0.3% increase from the $10.66 billion in sales recorded on the day after Thanksgiving last year, reports ShopperTrak, a Chicago-based retail firm that tallies sales in more than 70,000 retail locations around the country.
However, ShopperTrak said the sales total was still a Black Friday record. The researcher is standing behind its prediction that holiday-season spending will rise 3.2%.
U.S. Retailers Hoping Black Friday Sales, Smartphone Apps Fuel Strong Holiday Shopping Season
Another Black Friday. Another holiday shopping season. But a whole new strategy for U.S. retailers. As the Friday after the Thanksgiving holiday, today marks the "official" kickoff of the 2010 holiday shopping season. Usually referred to as "Black Friday," today is the day when U.S. retailers traditionally pull out all the stops in an effort […]
We Want to Hear From You: What's Your Black Friday Holiday Shopping Strategy?
"Black Friday" was once known as the day that holiday shoppers rose before dawn to get in line at their favorite retailer for once-a-year discounts.
In recent years, however, Black Friday has morphed into a month-long retailing bacchanalia that's defined by extended in-store hours, Internet-only deals and smartphone-user specials.
The National Retail Federation estimates that 138 million shoppers will hit stores this weekend, and merchants hope that will signal a full-fledged return of reticent U.S. consumers.
After two straight seasons of lackluster holiday sales results, eager retailers used their best efforts to jumpstart this year's holiday shopping season, rolling out more Pre-Black Friday deals than ever before. Electronics specialist Newegg Inc. even held a "Black November" campaign starting after Halloween.
In recent years, however, Black Friday has morphed into a month-long retailing bacchanalia that's defined by extended in-store hours, Internet-only deals and smartphone-user specials.
The National Retail Federation estimates that 138 million shoppers will hit stores this weekend, and merchants hope that will signal a full-fledged return of reticent U.S. consumers.
After two straight seasons of lackluster holiday sales results, eager retailers used their best efforts to jumpstart this year's holiday shopping season, rolling out more Pre-Black Friday deals than ever before. Electronics specialist Newegg Inc. even held a "Black November" campaign starting after Halloween.
Shoppers Expected to Bounce Back After Snow Storm Wipes Out "Super Saturday"
After a massive snowstorm blew away "Super Saturday," last-minute shoppers are expected to make up for the lost weekend and keep retailers' holiday sales even with forecasts, the National Retail Federation (NRF) announced yesterday (Monday).
The trade group stuck to its previous projections for a 1% drop from last year's levels, saying the weather wasn't bad enough to deter shoppers from bouncing back in the last days before Christmas.
"There are more than enough shopping days to make up any challenges due to weather in the east," Matt Rubel, chief executive officer of Collective Brands Inc. (NYSE: PSS), said in an e-mail to Bloomberg News. Kansas-based Collective Brands is the owner of the Stride Rite and Payless ShoeSource chains.
The trade group stuck to its previous projections for a 1% drop from last year's levels, saying the weather wasn't bad enough to deter shoppers from bouncing back in the last days before Christmas.
"There are more than enough shopping days to make up any challenges due to weather in the east," Matt Rubel, chief executive officer of Collective Brands Inc. (NYSE: PSS), said in an e-mail to Bloomberg News. Kansas-based Collective Brands is the owner of the Stride Rite and Payless ShoeSource chains.
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Bernanke Defends Record Before Senate; Service Sector Slumps in November; Retailers Hit by Bargain Hunters; New Rules May Grant Relief to Banks; Mortgage Rates Hit Record Lows; ECB Keeps Rates at 1%; American Outbids Delta for JAL Partnership
Bernanke Defends Record Before Senate; Service Sector Slumps in November; Retailers Hit by Bargain Hunters; New Rules May Grant Relief to Banks; Mortgage Rates Hit Record Lows; ECB Keeps Rates at 1%; American Outbids Delta for JAL Partnership
Will Cyber Monday Success Set the Tone for the Holiday Season?
E-commerce sales on "Cyber Monday" - the first Monday following the Thanksgiving holiday - climbed to record levels this year, but that success doesn't necessarily mean the holidays will bring more cheer to retailers.
Virtually every retailer with an online presence dressed up its website with special offerings, and many of the bigger ones - RadioShack Corp. (NYSE: RSH), Best Buy Co. (NYSE: BBY) and Target Corp. (NYSE: TGT) - sent out targeted e-mails offering their best customers discounts of up to 40% on Internet purchases. The tactics worked, as an estimated 96.5 million Americans went online Monday to buy everything from toys, books and music CDs to high-end fashions, jewelry and flat-screen TVs.
Virtually every retailer with an online presence dressed up its website with special offerings, and many of the bigger ones - RadioShack Corp. (NYSE: RSH), Best Buy Co. (NYSE: BBY) and Target Corp. (NYSE: TGT) - sent out targeted e-mails offering their best customers discounts of up to 40% on Internet purchases. The tactics worked, as an estimated 96.5 million Americans went online Monday to buy everything from toys, books and music CDs to high-end fashions, jewelry and flat-screen TVs.
Bargain Hunters Turn Out for Black Friday
More shoppers turned out for the Black Friday weekend this year, but they spent less per capita and favored lower-priced items, according to a survey by the National Retail Foundation. The survey showed that about 195 million consumers shopped stores and Web sites, up about 13% from the 172 million who ventured out last year. […]
Black Friday, Cyber Monday Fail to Allay Retail Anxiety
By Jason Simpkins Associate Editor Money Morning Steep holiday discounts and bargain hunting boosted Black Friday sales, but a dour economic outlook leaves analysts skeptical that Americans will be able to sustain their buying frenzy for the duration of the holiday season. Spending over the four-day Thanksgiving weekend rose 7.2% from a year ago to […]