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Black Friday Sales Intensify in Downturn

 
 
Reply Sun 23 Nov, 2008 12:05 pm

Quote:
Black Friday, the traditional start to the U.S. holiday shopping season, means more to retailers this year as they struggle to win over consumers with a recession looming.

Black Friday falls on November 28, the day after the Thanksgiving holiday, and many stores have already begun advertising deep discounts to attract shoppers as early as midnight.

Retailers that fail to rack up sales during the three-day weekend face the prospect of clearing out merchandise at profit-crunching prices closer to Christmas.


http://www.reuters.com/article/domesticNews/idUSTRE4AM1S420081123

Some stores must be really desperate. I have been getting flyers from stores with huge sales for the past few weeks. My local store Bealls (which specializes in Florida type middle of the road clothing) is open until 11 tonight, with 20% off everything.

I went there yesterday, where there was yet another sale. (50% off on some stuff until 1 p.m.) People were buying, but I noticed that there were not enough cashiers to take care of the crowd, and people were getting annoyed. Hey, they can't have it both ways. If the store needs business, they need to be able to take care of customers in a timely fashion.

What is happening where you live?
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boomerang
 
  1  
Reply Sun 23 Nov, 2008 12:12 pm
I took Mo to the video game store yesterday and that place was packed!

Most of the people in line in front of use were spending several hundreds of dollars each. It seems that they were having a pretty amazing sale that I was unaware of. They only had two clerks working and they were overwhelmed.

I think discounting is going to reach a frenzy in a few weeks.
Phoenix32890
 
  1  
Reply Sun 23 Nov, 2008 12:23 pm
@boomerang,
boomer- I promised myself that I would stay out of the stores between Black Friday and the day after New Years'. I am at the point where I just don't want to deal with the crowds.

I think that Amazon will get most of my business this season.
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Foxfyre
 
  1  
Reply Sun 23 Nov, 2008 12:27 pm
The stores don't want to have huge inventories come January 1 because of tax implications. On the other hand, when there is 3 or 4 or 500% markup for retail on a whole bunch of stuff, they can offer huge discounts and still make a profit; just not as much as they want. And it does reduce earnings somewhat, of course, which invariably spooks the stock market even more when such lowered expectations are announced.

Phoenix is right though. I already resent inadequate, untrained, (or indifferent) store personnel sufficiently to do most shopping on line these days. Add long lines, and I have to want something pretty bad to stick around. I figure at a certain age we're entitled to be a bit eccentric. Smile
edgarblythe
 
  1  
Reply Sun 23 Nov, 2008 12:30 pm
I haven't checked into it as of now, but Houston is not suffering as badly as much of the nation. I am not sure how great our sales wll be.
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boomerang
 
  1  
Reply Sun 23 Nov, 2008 12:31 pm
I've already done most of my shopping so that I don't have to visit stores during that period. I dislike shopping and hate crowds. It would take an unbelievable price on something I already need to drag me to the stores.

Understaffed seems to be the order of the day in all service sectors.
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Phoenix32890
 
  1  
Reply Sun 23 Nov, 2008 12:40 pm
@Foxfyre,
Quote:
I figure at a certain age we're entitled to be a bit eccentric.




We're not eccentric. We're smart!!! Very Happy
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