Black Friday has been a day for people to go out and get what they want for Christmas at low deals. But this year, with the economy not as strong and people losing their jobs, is Black Friday going to save all the businesses out there. Last year, Black Friday accounted for 10% of total holiday sales according to ShopperTrak RCT Corp. And with people getting covered in credit debt, people are not going to be using credit cards this holiday season to get more gifts for loved ones and friends. Plus with the job being lost for many Americans and the dollar growing weaker, people budgets for gifts is getting smaller and smaller. So with the credit cards staying in their owner's wallets and budgets for gifts getting smaller and smaller, is there any hope?
There is. Even though budgets are getting smaller and smaller, gas prices have fallen to levels not seen since 2005. People have more money to spend on items. And the stores have not only sliced prices for the huge sale, but have sliced prices even more to sell the items they need to get rid of. So, with prices even lower and people have more money to spend with gas being below the national average of $1.835 for regular unleaded, according to auto club AAA, there is hope that there will be a big boom of sales to help out the stores during this crisis.
-Im.an.AMERICAN
9 comments:
Although the lowered gas prices and the lowered prices of gifts is helping the sales of black friday, you still have to look at the recession our country is in. Because people do have large amounts of credit card debts and the fear of more recession in the economy. People are not going to spend as much simply because they are scared! buying: Agh!, saving: Yay!
I think black friday this year, was just as strong as in years past. The stores keep having huge sale prices that people can't stay away from. Even though the economy may be down, I don't think that it had any effect on black friday. It may have a long term effect on total spending for the holidays but I don't think it affected the day of black friday.
I have a feeling that sales on Black Friday were around par, but that revenue may not be since retailers slashed prices further than normal. We'll see how bad the recession really is after the first of the year.
What do you guys think about the man who died from opening the doors in a New York store? All those crazy shoppers did not even realize they were trampling over a guy!
Black friday this year wasn't as bad as expected keeping in mind the recession we are in the middle of, hopefully this holiday season will go very well and people will spend. I do like the fact that gas prices are as low as they are.
I don't know about you, but I think it's time for a new topic other than that of Black Friday. People are ridiculous. We get it.
At this point, anything that can get us out of the crisis would be very helpful. I always think of black friday as a silly tradition, but it truly does help those businesses who need the extra boost. Also, it offers gifts for affordable prices, what else could you ask for?
Too bad in November alone, 533,000 Americans have lost their jobs, and the total for this year so far has been 1.9 million people. The number of jobs lost in November was the highest since 1974. I don't think you can expect people to spend their extra money of Christmas presents when the economy is like it is. People are saving their money, so they will have some if the economy gets worse.
Well... stores may be slashing prices for good reason. after the holiday season is over many stores have been predicted to close and go out of business. maybe the slashing of prices was thought to be a good thing, when in actuality it is just a sign that the store is going out of business. for good.
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