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Black Friday Now a Month-Long Shopping Spree

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Black Friday in Panama City, Fla. (AP)

By    |   Thursday, 24 Nov 2016 10:17 PM

Black Friday – the day after Thanksgiving that's been the traditional kickoff to the holiday shopping season – is no longer a one day event.

The Wall Street Journal reported Thursday shoppers have already spent $27.2 billion between Nov. 1 and Nov. 23 – a 4.3 percent hike over the same period last year.

And Adobe Systems, which analyzed data from 21 billion visits to retail websites, is predicting online spending Thanksgiving Day would reach $2 billion, up 16 percent from a year ago.

According to the Journal, traditional retailers have been moving discounts earlier in the month to get an edge in the battle for shoppers both online and off.

"Bricks-and-mortar stores are pulling out all the stops," Pete Madden, a director in the retail practice at consulting firm AlixPartners, told the Journal. "They are making it clear they won’t be beat on price, service or products."

Black Friday, though no longer the busiest shopping day of the year, is still key to retailers, the Journal noted; shoppers are expected to drop $27 billion on the day, making it the second-biggest U.S. shopping day of the year behind Super Saturday, which falls the weekend before Christmas, according to the consulting firm Customer Growth Partners.

The National Retail Federation forecasts total holiday shopping will rise 3.6 percent to $655.8 billion from a year ago with 137.4 million people shopping in stores and online during Thanksgiving weekend alone.

Then there's the "Trump Bump" expected from President-elect Donald Trump's promise to stimulate the economy and lower taxes, which according to Citi analyst Paul Lejuez, means "a large segment of the population that was previously reluctant to spend now feels better," the Journal reported.

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Black Friday – the day after Thanksgiving that's been the traditional kickoff to the holiday shopping season – is no longer a one day event.
black, friday, lasts, month
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2016-17-24
Thursday, 24 Nov 2016 10:17 PM
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