1119 Econ Snapshot

LOCAL ECONOMIC SNAPSHOT | BLACK FRIDAY
Earlier the better? Well see

By MARIA HALKIAS
Staff Writer [email protected]
The day after Thanksgiving, known as Black Friday, is the traditional start of the Christmas shopping season. Thanksgiving is a federal holiday that falls on the fourth Thursday of November. This year there are 32 days between Thanksgiving and Christmas and thats the longest the calendar offers. The period can be as short as 26 days, which last happened in 2002. In the last few years, Black Friday has become the biggest shopping day of the year in terms of dollars spent. That historically had been the Saturday before Christmas. But in the mid-2000s, Black Friday jumped into the No. 1 spot and has stayed there. With more early bird specials moving into Thanksgiving Day, Black Friday may get bumped.
Black Friday store opening times creep into Thanksgiving Day

Shoppers no longer have to get up early to get some deals. BLACK FRIDAY 2008
11 12 1 10 2 9 3 8 4 7 6 5
THANKSGIVING 2009
11 12 1 10 2 9 3 8 4 7 6 5
THANKSGIVING 2010
11 12 1 10 2 9 3 8 4 7 6 5
THANKSGIVING 2011
11 12 1 10 2 9 3 8 4 7 6 5
THANKSGIVING 2012
11 12 1 10 2 9 3 8 4 7 6 5
5 A.M. Toys R Us and Wal-Mart doorbusters were put out at 5 a.m. Outlet malls took the lead by opening at midnight in 2006. Regional malls Town East, Irving Mall and Firewheel Town Center followed. Penneys and Kohls opened at 4 a.m.
NOON Gap Inc. opened almost 1,000 Gap, Old Navy and Banana Republic stores on Thanksgiving after trying it out with a few locations in 2008. RadioShack opened 700 stores on Thanksgiving but didnt try it again.
7 A.M. Sears opened its stores at 7 a.m. on Thanksgiving. Crowds were thin and it skipped it in 2011. Gap and its Old Navy and Banana Republic stores opened again.
MIDNIGHT Macys, Target, Kohls and Best Buy opened at midnight Thursday and stayed open for 24 hours. Toys R Us opened at 9 p.m. on Thanksgiving. Wal-Mart had doorbuster sales, at 10 p.m. and midnight.
8 P.M. Wal-Mart puts its rst doorbusters out at 8 p.m. on Thanksgiving Day. Toys R Us and Sears also open at 8 p.m. Target opens at 9 p.m. Lord & Taylor is opening its Manhattan store from 10 a.m. to 7 p.m. to get some of those Macys paradegoers inside.
Forecast: 2012 busiest holiday shopping days

The top 10 days will represent more than one-third of general merchandise sales in November and December, according to ShopperTrak. Sales 1 2 3 4 5 6 7 8 9 10 Trafc 1 2 3 8 6 4 5 7 9 10 Date Friday, Nov. 23
Black Friday
How many people shop Black Friday weekend

The numbers have grown every year. Totals represent shopping visits:
(In millions)
THANKSGIVING
100 80 60 40 20 0 09 10 11 100 80 60
FRIDAY 86.3 million
SATURDAY
100 80 60 40 20 0
SUNDAY
100 80 60 40 20 0
74.2 million
28.7 million
36.6 million
40 20 0 09 10 11
Saturday, Dec. 22 Saturday, Dec. 15 Friday, Dec. 21 Sunday, Dec. 23 Saturday, Dec. 8 Wednesday, Dec. 26 Saturday, Nov. 24 Thursday, Dec. 20 Saturday, Dec. 29 Sunday, Dec. 16 Saturday, Dec. 1
09
10
11
09
10
11
Black Friday online sales

Last year, Black Friday was the heaviest online spending day up to that point in the year. This year, online sales could reach $1 billion. In 2011, there were 10 days in the fourth quarter with online sales that surpassed $1 billion, led by Cyber Monday, or the Monday after Thanksgiving. Sales were $1.25 billion. Non-travel retail spending (In millions)
THANKSGIVING
900 600
BLACK FRIDAY
900
$816 $648
$407
300 0 2010
$479
600 300 0
2011
2010
2011
SOURCES: ShopperTrak; comScore Inc.; National Retail Federation; BIGinsight; Dallas Morning News research
The bottom line

I think we may see some backlash from consumers to opening on Thanksgiving Day. Im not sure theres the same interest this year in Black Friday because there have been so many good deals already. I think people are going to make some comparable trade-offs to standing in line in the cold this year. Pam Goodfellow, consumer insights director, BIGinsight Black Friday is growing in importance because it sets the expectations for the season. I dont think the novelty is wearing off; Black Friday is expanding literally. Retailers are sweetening deals with store credit: Wal-Mart is offering a $75 gift card with an iPad 2 and Kohls upped its Kohls cash to $15 for every $50 spent. I wonder if moving doorbusters into Thursday by some of the biggest Black Friday crowd-drawing retailers Wal-Mart, Target and Toys R Us will just thin out the crowds on Black Friday? Last year, crowds lined up for 10 p.m. Thanksgiving openings. Well nd out what two hours earlier does. Maria Halkias, staff writer, The Dallas Morning News
Edward J. Fox, professor, Edwin L. Cox School of Business, Southern Methodist University

1119 Econ Snapshot

Uploaded by

Copyright:

Available Formats

1119 Econ Snapshot

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

1119 Econ Snapshot

Uploaded by

Copyright:

Available Formats

LOCAL ECONOMIC SNAPSHOT | BLACK FRIDAY

Earlier the better? Well see

Black Friday store opening times creep into Thanksgiving Day

Forecast: 2012 busiest holiday shopping days

How many people shop Black Friday weekend

FRIDAY 86.3 million

Black Friday online sales

The bottom line

You might also like