Tags: black friday | in-store | discounts | brick

'Black Friday,' Big In-Store Discounts Bricked to Death

'Black Friday,' Big In-Store Discounts Bricked to Death
Those were the days. Friday, Nov. 28, 2008. A sign advertises deep discounts at an outlet store in Deer Park, New York.  (AP Photo/ (Ed Betz/AP)

By    |   Wednesday, 04 October 2017 03:43 PM

“Black Friday” is dying along with big in-store holiday discounts at retail’s brick-and-mortar outposts, while Americans are choosing to find year-round specials wherever they can, according to The Washington Post, more and more of them online.

Consumer market research conducted by professional services giant PwC established that only 32 percent of consumers intending to shop during the week of Thanksgiving will do so on Black Friday – a far cry from last year’s 51 percent and 2015’s 59 percent.

“Black Friday has lost its significance,” said Steven J. Barr, consumer markets leader for PwC, per the Post. “Retailers have conditioned the consumer to believe everything’s on sale every day, which means the deals on Black Friday are not significantly different from any other time.”

Shoppers and retailers have started approaching holiday shopping with a different attitude, preferring to spread it out over several weeks instead of the age-old dash day before the holiday.

Additionally, seasonal discounts have been more spread out as retailers slash prices throughout the year.

Earlier this year, Aircargo News reported how sales on Amazon’s third annual “Prime Day” topped Black Friday and Cyber Monday.

The e-commerce giant revealed that the sales event has grown by more than 60 percent from last year, with notable growth in sales reported by small businesses and entrepreneurs.

Commenting on this, Barr said consumers are now aware that, even if they do not get a deal on Black Friday, they would still be able to get that deal somewhere else.

“There is no urgency anymore,” he said, per the Post.

Research has also shown an emerging trend in which shoppers who do take advantage of Black Friday specials prefer to do so online.

Based on information released by BestBlackFriday.com, shoppers set a new record when they spent a combined total of $5.27 billion online on Thanksgiving and Black Friday last year.

This year experts expect a combined $5.57 billion to be spent, which is an increase of 5.70 percent.

What this all means is fewer and fewer stampedes for flat-screen TVs.

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“Black Friday” is dying along with big in-store holiday discounts at retail’s brick-and-mortar outposts, while Americans are choosing to find year-round specials wherever they can, more and more of them online.
black friday, in-store, discounts, brick
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2017-43-04
Wednesday, 04 October 2017 03:43 PM
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