It’s Really Deal Time This Black Friday

November 28, 2008

(ChattahBox) — The terrible state of the US economy over the past 10 months and a long spell of joblessness had forced the consumer to tighten their purse strings. Retailer had been facing tough times with declines in sales and inventory piling up. Sales had been a little upbeat only due to the heavy discounts offered by the retailers. Holiday forecasts have been bleak for this season with predictions ranging from an optimistic 2.2 percent to pessimistic one percent growth.

Most of the retailers are planning to offer heavy discounts starting from Black Friday, the official kickoff to the holiday season, in virtually all categories with mark down prices, sometimes 50 percent, 60 percent, even 70 percent. Retailers are pouring deals to their customers just to make a sale. There has been a decline in sales not only due to limited consumer shopping but also lesser number of holiday shopping days. Thanksgiving falls late this year which reduces the number of shopping days for the consumer which means lesser number of days for retailers to make sales.

According to the International Council of Shopping Centers, November and December sales in stores open at least a year may rise one percent. Consumers may spend an average $616 on holiday gifts this year, down 29 percent from a year earlier.


Comments

One Response to “It’s Really Deal Time This Black Friday”

  1. Chat on December 15th, 2008 9:53 pm

    nice thank you very much for this article.

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