Black Friday expected to boost retail sales
With just a few days to go, retailers across the country are gearing up for the official start to the holiday shopping season – Black Friday. To accommodate eager consumers, businesses are opening their doors earlier and offering more discounts and deals for the customers who will flood their stores.
The National Retail Federation (NRF) expects that approximately 145 million consumers will be shopping during Black Friday weekend. Seventy-one million customers will actually shop on those days, while 76 million plan to wait and see what retailers are offering in their stores.
"Though the Black Friday tradition is here to stay, there's no question that it has changed in recent years; already there is a tremendous amount of excitement and anticipation surrounding retailers' Thanksgiving and Black Friday promotions," said NRF president and CEO Matthew Shay. "It's critical for retail companies to constantly evolve as consumers do, and right now shoppers want great deals, good value, and convenience – exactly what we're seeing with this season's late and early openings, price-matching, layaway, and mobile offerings."
FatWallet reports that this year's Black Friday sales are expected to surpass last year's amount, in which the average shopper spent $398 on items.
