Retailers hope Black Friday kicks off $ 1 trillion season
Some stores see high tide, others a trickle
Shoppers turned out in droves Friday for the traditional start of the holiday shopping season, giving hope to retailers and investors that long lines at checkout counters and brisk online sales would last through the weekend and kick off a jolly holiday season.
Shoppers had spent $ 640 million online by 10 a. m. Friday, 18.4% more than last year, according to Adobe Analytics. Many stores and malls reported crowded parking lots and lines out the door, dispelling fears that Thanksgiving night and Black Friday promotions had lost their appeal.
“The store traffic’s there,” said Charlie O’Shea, lead retail analyst for credit rating agency Moody’s, as the numbers rolled in.
Macy’s shoppers saw their shopping marathons slowed Friday afternoon when it began to take “longer than usual to process some credit and gift cards in our stores,” the retailer said in a statement. It added workers to resolve the issue.
O’Shea questioned whether the promotions undercut retailers’ bot-
Stores and malls reported crowded parking lots and lines out the door, dispelling fears that Black Friday had lost its appeal.
tom lines.
“Anecdotally, things are setting up well,” he said. “The question, as always, is are the prices too low? And we won’t find that out for a while.’’
The holiday season is the most lucrative and critical period for the retail industry, and forecasts for this year have been strong. Consultancy Deloitte predicted retailers would top $ 1 trillion. Big tallies could keep struggling store- based retailers afloat longer after a year in which they collectively closed thousands of locations. A big question hanging over the industry is how many more sales will move online.
Fears that consumers would rather shop on their laptop computers were little in evidence among crowds shopping at malls Friday.
Surrounded by racks of comfy sweaters and professional attire, Keri Crafton, 41, clutched five garments as she got ready to enter the women’s dressing roomat the J. C. Penney in Glendale, Ariz.
“This is our second trip. My arms were getting too full, so we dropped them off at the car,” she said, shifting the weight of the new clothes.
Traffic was brisk at Eastview Mall in Victor, N. Y., where teens arrived ready to shop at popular stores such as Hollister, American Eagle Outfitters and Bath and Bodyworks by 6 a. m. It took as long as an hour for some cars to park at the Westfield Garden State Plaza in Paramus, N. J.
“I’ve covered every store,” said Dana Kim, 18, of Fort Lee, N. J., having spent $ 90 of her $ 200 on a hoodie, Tshirt and a sweater. She didn’t mind the long lines in fitting rooms. “I like the interaction with people,” she said. “Online shopping is convenient, but I don’t like going against tradition.”
In Grand Chute, Wis., about 100 miles north of Milwaukee, hundreds of people lined up before dawn outside the Menards home improvement store. The parking lot was filled by 6 a. m. The balmy weather — for Wisconsin — bumped up the numbers.
“We’re fortunate that it’s 40 degrees,” general manager Tony Jacobson said. Menards shoppers filled carts with ladders, dog food, dog beds, salt lamps, stuffed animals, Puffs, Bounty, Charmin and storage racks. Onewoman had a fireproof gun safe.
Contributing: Kellie Ell, USA TODAY; Mary Chao, Rochester Democrat and Chronicle; Garrett Mitchell, The Arizona Republic; Maureen Wallenfang, Appleton ( Wis.) Post- Crescent