Purple is a potent colortraditionally associated with wealth, and richness. Black Friday is likely tobe a purple day for the US retailers, as customers will be on a shopping spree.
Millions of Americans get out oftheir homes and go shopping on the three days immediately after Thanksgiving whichis called as the Black Friday. This customarily marks the beginning of theChristmas shopping season. Retailers are gearing up for this most hypedshopping day of the year.
Does recession restrict theshopping force?
Despite the recession woes,excitement is there in the atmosphere. Customers are still cautious regardingtheir budgets, and will remain focused on the price points. Discounted productsare likely to heat up the sales figures. An estimate states that 128 millionpeople went shopping during the previous year, and are likely to increase by134 million during the current year. A survey states that 36% of the totalrespondents expressed their intention for shopping for apparel and accessories.More than 50% of the people are in the hope of snagging a doorbuster deal. Doorbustersare products that will be available only in limited quantities on Black Friday.To avail this, the customer has to arrive at the store on the morning of BlackFriday.
During 2009, online searchesrelated to Black Friday shopping showed a strong surge by an increase of 20%over the previous year. Both online and in store shopping are the fastestrising search terms with blurring lines of variation between them. Shoppersinterest in apparels seems high with 50% of the consumers searching for thebest apparel deals.
Retailers gear up for 2010:
Shopping for black Friday in 2010is anticipated to be better than ever. Sales are expected to pick up more by16% this year. Retailers are making preparations even earlier than the season,offering much competitive prices, and key gifts with the purchases. They have afew tricks up their sleeves to bring excitement in the minds of the BlackFriday shoppers. Much focus is on heavy advertisements for promoting theirproducts. The excitement, the ads create about the day makes even more peopleup and out of the stores, bringing the event to a full circle. Immense salesare expected for items such as apparels, electronics and toys. Apparels standsecond, only next to electronics in the preferred list of shopping items.
Retailers give doorbuster deals to lure the shoppers. BestBuy, Wal-Mart, and Sears roll down their prices even weeks before the season. Searwill be selling jeans for half its regular price. JC Penny plans for morediscount than it did the previous year. Kmart is planning to open onThanksgiving itself. A survey by the NPD Group during 2009 (The Anatomy ofBlack Friday 2009) states that 36% of the shoppers said that they went outlooking for doorbusters while 35% of them actually bought doorbuster deals.This shows the power of doorbusters! Retailers also extend the time for keepingthe shop open so that more customers can walk in for their special deals. Thoughretailers avoided stocking up heavily due to uncertain demand during recession,evidences emerge stating optimistic beliefs from the retailers side for moresales in 2010.
After living through the depressing period of meltdown, retailers are having high hopes on this holiday season with a positive expectation that sales will pick up. Potential strategies are positively expected to accelerate the retail business for the coming season.
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