(Source: Philstar.com | November 24, 2018)
Across the United States, thousands of shoppers flocked to stores on Thanksgiving or woke up before dawn the next day to take part in this most famous ritual of American consumerism.
Shoppers spent their holiday lined up outside the Mall of America in Bloomington, Minnesota, by 4 p.m. Thursday, and the crowd had swelled to 3,000 people by the time doors opened at 5 a.m. Friday morning. In Ohio, a group of women was so determined, they booked a hotel room Thursday night to be closer to the stores. In New York City, one woman went straight from a dance club to a department store in the middle of the night.
Many shoppers said Black Friday is as much about the spectacle as it is about doorbuster deals.
Brick-and-mortar stores have worked hard to prove they can counter the competition from online behemoth Amazon. From Macy’s to Target and Walmart, retailers are blending their online and store shopping experience with new tools like digital maps on smart phones and more options for shoppers to buy online and pick up at stores. And customers, frustrated with long checkout lines, can check out at Walmart and other stores with a salesperson in store aisles.
Consumers nearly doubled their online orders that they picked up at stores from Wednesday to Thanksgiving, according to Adobe Analytics, which tracks online spending.
The holiday shopping season presents a big test for a U.S. economy, whose overall growth so far this year has relied on a burst of consumer spending. Americans upped their spending during the first half of 2018 at the strongest pace in four years, yet retail sales gains have tapered off recently. The sales totals over the next month will be a good indicator as to whether consumers simply paused to catch their breath or feel less optimistic about the economy in 2019.
The National Retail Federation, the nation’s largest retail trade group, is expecting holiday retail sales to increase as much as 4.8 percent over 2017 for a total of $720.89 billion. The sales growth marks a slowdown from last year’s 5.3 percent, but remains healthy.
The retail economy is also tilting steeply toward online shopping. Over the past 12 months, purchases at non-store retailers such as Amazon have jumped 12.1 percent as sales at traditional department stores have slumped 0.3 percent. Adobe Analytics reported Thursday that Thanksgiving reached a record $3.7 billion in online retail sales, up 28 percent from the same year ago period. For Black Friday, online spending was on track to hit more than $6.4 billion, according to Adobe.
Target reported that shoppers bought big ticket items like TVs, iPads, and Apple Watches. Among the most popular toy deals were Lego, L.O.L. Surprise from MGA Entertainment and Mattel’s Barbie. It said gamers picked up video game consoles like Nintendo Switch, PlayStation 4 and the Xbox One.
Black Friday itself has morphed from a single day when people got up early to score doorbusters into a whole month of deals. Plenty of major stores including Macy’s, Walmart and Target started their deals on Thanksgiving evening. But some families are sticking by their Black Friday traditions.
Read More: Here
