Is it just the human herd instinct or do American shoppers on what is called Black Friday the day after the annual Thanksgiving holiday in the US get a genuine bargain?
In a bid to boost sales and get a bigger share of the spending spree more and more stores have opened on the Thursday.
That breaks with the tradition of, “doorbuster” deals on the Friday morning. The tactic may just work explained Jharonne Martis of Thomson Reuters.
“In the beginning of October estimates for the holiday season were only 1.5 percent and now that has gone up to 1.9 percent. And we still have to go through Black Friday and analysts are very optimistic about. They think we are going to see 3.3 percent growth. But 3 percent reflects a healthy U.S. consumer spending,” she said.
Stakes are high for the stores as they can earn more than a third of their annual sales in the holiday season.
But research commissioned by the Wall Street Journal shows the vacation deals could be a myth with many goods costing less at other times of the year and are cheaper online.