US retailers preparing for Black Friday

According to a report in the Wall Street Journal, US retailers are doing all they can to avert the economic downturn, although it does mean a heavy advertising budget might be needed over Christmas.

Retailers are spending big at the moment and even though Black Friday (the day after Thanksgiving) is not the biggest selling day of the season, it is hoped that positive sales today will lead to a turning point for Christmas sales.

For many retailers such as Circuit City and Linens ‘n’ Things, who are struggling in the current climate and facing bankruptcy, the strength of sales of the period may result in their demise by 2009.

It is a price war this morning as local shops and national retailers attempt to entice shoppers with Toys ‘R‘ Us extending its doorbusters by 50 percent.

Scott Watkins, an analyst for Anderson Economic Group has said that shoppers have the upper hand in the weaker economy now and can bargain for even better value.

The National Retailers Association’s recent survey had found that 40 percent of shoppers indicate that sales were the primary consideration in deciding where to shop.

Story link: US retailers preparing for Black Friday