Significance of Black Friday
Despite supply chain disruptions, businesses are poised to have a potentially record-setting holiday shopping season, according to the retail federation.
Sales during November and December are expected to grow 8.5%-10.5% from a year ago to between $843.4 billion and $859 billion.
And while e-commerce will remain important, households are expected to shift back to in-store shopping and a more traditional holiday shopping experience this year, according to the federation.
“There is considerable momentum heading into the holiday shopping season,” said Matthew Shay, president and CEO of the National Retail Federation.
Shay said consumers are in a favorable position going into the last weeks of the year as income is rising and household balance sheets are strong.
The U.S. Commerce Department reported last week that retail sales rose a seasonally adjusted 1.7% in October from September. Pay raises and healthy savings for many households are credited with contributing to consumers’ willingness to spend, the department said.
Shema Krinsky, area director of marketing for Ross Park Mall and South Hills Village, said it is too soon to project sales or shoppers, but the malls are seeing an influx of Santa photo reservations and full parking lots.
“[That] is always a good sign and indicator of a busy holiday shopping season,” she said. “We expect Black Friday shoppers will come out in droves.”
As for the Fratangelo sisters, they prefer the in-store experience on Black Friday.
“We will be there,” Jenna Fratangelo said. “It’s part of our traditional holiday shopping experience.”