Higher income consumers have expressed greater optimism about their financial future but their lower income counterparts are still struggling. It is the goal of America’s retailers to attract both sectors to their holiday sale season, which begins on “Black Friday,” the day after Thanksgiving, this week.
“It’s critical to get off to a good start for Black Friday because it’s hard to make up sales if you fall behind your plan overall,” asserted Barclays Capital analyst Bob Drbul.
This is particularly true this year, when, after the recent years’ economic downturn, sales have begun improving slightly.
“For the past three years, [shopping] trips have been declining,” explained James Russo, vice president of market and consumer information at The Nielson Co. monitor. But retails stocks have gone up significantly since August, in light of an increase in sales at retail establishments. The goal for stores now is to build on this momentum by creating enhancements to attract large numbers of holiday shoppers. As many as 138 million shoppers could visit stores around the United States this “Black Friday” weekend, according to the National Retail Federation.
Sears and Wal-Mart even plan to be open on Thanksgiving Day, in hopes of catching the early bird – or at least, the early shopper.
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