Year-over-year retail dollar volume growth during Thanksgiving and Black Friday was strong at 9.0%, and a significant increase compared to last year’s growth of 5.6%, according to First Data Corp.’s SpendTrend analysis.
Many retailers are no doubt entering Thanksgiving week with trepidation at the prospect of keeping all systems go during what has become a six-day frenzy of “Black Friday” activity that now runs from the Wednesday before Thanksgiving to the Monday after.
More than 60% of consumers will start holiday shopping on Black Friday and most will spend more than 50% of their holiday budget over the Thanksgiving weekend, according to research by the Georgetown Institute for Consumer Research, sponsored by KPMG.
Belk stores will open at 8 p.m. on Thanksgiving Day. From 8 p.m. Thursday, Nov. 28 through 1 p.m. Friday, Nov. 29, stores will offer more than 350 early bird specials while quantities last The promotion will feature hundreds of special deals in every department.
Count OfficeMax as the latest in a growing list of retailers opening its doors at 8 p.m. local time Thanksgiving night (as permitted by law). Online Black Friday discounts at OfficeMax.com start at 12:01 a.m. EST Thanksgiving morning.
Among the affluent households, the average expenditure for December holiday gifts in 2013 is estimated to be $2,175 down 2.8% from 2012, according to a new survey of the wealthiest 10% of U.S. households by the American Affluence Research Center.
Walmart U.S. reported that its Black Friday events were its “best ever,” and followed on the heels of what U.S. president and CEO Bill Simon described as an “impressive Thursday,” on which 22 million customers shopped U.S. Walmart stores.
The National Retail Federation on Wednesday urged President Obama and Congress to come up with a plan to avoid the “fiscal cliff” by Thanksgiving, saying uncertainty over the pending combination of tax hikes and spending cuts threatens consumer confidence during the holiday shopping season that begins on Black Friday.