Friday, November 26, 2010

Black Friday Craze

This year's bargain shoppers brave the freezing weather throughout the wee hours of the night to get their hands on the best deals of the season. It has been said that there were more shoppers out purchasing items this year than there was last year when such indulgences were limited. It is an encouraging sign for retailers and for the economy.

Traffic was fast and furious even when talking about advertising for the few hours the day after Thanksgiving. Companies started creating attraction earlier with more TV commercials. Marketing analysts monitoring stores said many people were paying with cash and were focused. They had done plenty of research before venturing out into the hustle and bustle of the sales.

Although when surveyed many of the shoppers were not shopping for deals on presents for the holidays, but for deals on items for themselves. Most said that they would still keep an eye out for present ideas, but the main event was to purchase merchandice for personal use. Retail analyst Cohen, who had a team of consultants monitoring 11 regions, estimated that 15 percent of purchases so far on Friday were items for the shoppers themselves, up from about 9 percent last year on the same day. On Black Friday 2008, he estimated it dropped to about 5 percent. "In good economic times, such purchases run about 26 percent," Cohen said.

At the Walmart store customers came in waves, with a big rush at midnight when toys and clothing went on sale and then another surge just before cut-rate electronics were hauled out at 5 a.m. Parking spots were in short supply and shopping carts were even more scarce. Companies averted the dangers of years past by keeping its doors open all night to head off potential stampedes. Shoppers instead lined up for tickets entitling them to heavily discounted TVs and computers and then camped out in cordoned-off aisles. While the system kept things orderly, some shoppers didn't appreciate it. Some where upset that when trying to purchase small items that were on sale, the had to literally step over people laying in the middle of the aisles.

The fierce battle for shoppers' wallets promises savings for those willing and able to buy amoungst an economy that is still worrying many. Still, nearly 15 million are unemployed, and concerns about job security cloud consumer confidence. Spending may be picking up yes, but that has not returned to pre-recession levels. No matter the situation a person is in, Tis the season for giving, and I intend to take advatage of these sales and do just that!

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