Black Friday

The Friday after Thanksgiving has been called Black Friday because historically it is the day that retailers go from being in the red to being in the black, making profits. The myth has it that this is the busiest shopping day of the year, but the reality is that it is usually the Saturday before Christmas, unless that Saturday is the day before like this year.

The holiday sales season can produce 40% of annual retail sales and up to 75% of the profit.

Some things to look forward to as the holiday shopping season begins:

• Up to 130 million consumers will go holiday shopping this weekend. (National Retail Federation, the world’s largest retail trade association survey, conducted by BIGresearch)
• Holiday retail sales are expected to increase 6.0 percent over last year to $439.53 billion. This averages to $1486.23 per man, woman, and child in the U.S. Obviously, some will have a huge pile under the Christmas tree compared to many others.
• There are two more shopping days this season compared to last year.
• 5%-15% of holiday store sales will be gift cards for an estimates $25 Billion, averaging $35-50 per card.
• 62.2% plan to buy clothing or clothing accessories as gifts
• 75.1% plan to shop at discounters
• Wal-Mart will be the top destination for clothing, home furnishing, and jewelry gifts. (Shopping Centers Today, Nov 22, 2005 International Council of Shopping Centers,the global trade association of the shopping center industry)

Cyber Monday

“Once the parades have ended and the leftovers are put away, many consumers will find a few precious hours to get a jump-start on the holidays by shopping online,” said Chuck Davis, Chairman of Shopzilla. “This year, retailers will be reminding shoppers that even though their stores may be closed, their websites are always open.”

Online retailers have discovered their version of Black Friday called Cyber Monday. It seems that the Monday after Thanksgiving is becoming one of the biggest online shopping days of the year. According to Shop.org/BizRate Research 2005 eHoliday Mood Study, 77% of online retailers saw large increases in sales last year on the Monday after Thanksgiving.

• 43% of special promotions and discounts on line on Monday
• 51.7 million people say they will browse or shop for gifts online
• Many will shop from their workplace. Some experts predict a decrease in work productivity as a result.
• 57% of online retailers expect gains of over 30% compared to last year. One in five expect sales to be 75+% higher.

Is Thanksgiving now merely the starter’s gun launching the race to the mall, either real or virtual?

Has consumerism now totally transcended the simple tradition of Thanksgiving? Sad, but true.

What do you do to keep things in proper perspective?