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Title: Here's The Real Reason Stores Are Open For Black Friday Sales On Thanksgiving
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Published: Nov 29, 2013
Author: Clare O'Connor, Forbes Staff
Post Date: 2013-11-29 06:53:10 by Tatarewicz
Keywords: None
Views: 169
Comments: 8
Kmart opened its doors at 6am on Thanksgiving, competing for the attention and funds of Black Friday shoppers. Walmart opened at 6pm on Thanksgiving day. So did Best Buy Best Buy. Macy's Macy's and J.C. Penney got in on the act at 8pm. Of course, Kmart had the edge on all of them, opening at 6am on Thursday this year. Why? Just generalized greed? Retail world anxiety because of a shorter holiday shopping season this year? Perhaps. But data from MasterCard MasterCard Advisors shows there’s a method to this mad race to open before most of us have digested our second helping of stuffing. A Black Friday spending analysis from the credit card giant shows a whopping 70% of consumer spending happens at the first two stores a shopper visits. Every big box chain is therefore competing to be the first port of call for shoppers as they battle long lines, cold, fatigue, and sharp elbows — not to mention dwindling funds. Another motive for early openings? The huge chunk of each shopper’s holiday budget that gets spent between Thanksgiving and Cyber Monday. A study from the Georgetown Institute for Consumer Research shows that the average adult spends 50.7% of his or her allotted gift budget during this sales blitz. While there are plenty of vocal opponents to Thanksgiving shopping, the practice looks to be here to stay. “The reality is these [objections] are not reinforced by consumers attending these events and spending their money,” said John Talbott, associate director of the Center for Education and Research in Retailing at the Indiana University Kelley School of Business. “The Black Friday season is truly a retail arms race,” he said. “Many studies indicate that the consumer has a relatively fixed level of spend for the holiday season. Consumers spend the budget they have in the time that is available for them to do it.” Talbott suspects we’ll see other chains join the likes of Kmart and Walmart out of simple necessity. “If shoppers vote for Kmart to be open by spending big dollars there on Thanksgiving, it is essentially a spend that is being reallocated from other retailers to Kmart,” he said. “This is likely to force a competitive response in the future so that the fixed spend of consumer dollars available are not sent in the direction of a specific retailer simply because they offer their deals to consumers earlier than others. My guess is Kmart will open at 6 a.m. and stay open 41 straight hours, shoppers will buy, and next year we’ll see other retailers follow to rebalance competitive playing fields.”
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#1. To: Tatarewicz (#0)
Watch Screaming Mobs Fight Over Televisions At Wal-Mart A video posted to YouTube Thursday appears to show a screaming mob fighting over flat-screen televisions at a Wal-Mart in North Carolina during the retailer's Black Friday sales. The video shows at least 50 people crowded around the televisions, when several people start pushing and shoving each other, with one man throwing another to the ground. A woman's voice is heard repeatedly screaming "Oh my God!" Several police officers stood nearby but didn't intervene. Eventually, a Wal- Mart worker appeared to break up the fight. The YouTube user who posted the video online told us he recorded it at a Wal- Mart in Elkin, North Carolina. He says he was kicked out of the store for recording the video. Very dignified, his parents must be proud.
corruptissima re publica plurimae leges - Tacitus
He probably has his kid hold his beer every time he launches into another glorious recount of his 'heroic' fight to get his prized cheap television. It keeps the hands free to punctuate the tale with some manly shadow boxing.
I'm predicting he'll be shot by a cousin for recounting his heroic tale during a particularly engaging episode of Honey Boo Boo.
corruptissima re publica plurimae leges - Tacitus
Whitey needs lesson in chimping out.
“The most dangerous man to any government is the man who is able to think things out... without regard to the prevailing superstitions and taboos. Almost inevitably he comes to the conclusion that the government he lives under is dishonest, insane, intolerable.” ~ H. L. Mencken
“The reality is these [objections] are not reinforced by consumers attending these events and spending their money,” First world problem. www.youtube.com/watch?v=dFFqUdToBGc
#2. To: Ferret (#1)
#3. To: Dakmar (#2)
#4. To: Ferret (#3)
#5. To: Ferret (#1)
#6. To: Tatarewicz (#0)
While there are plenty of vocal opponents to Thanksgiving shopping, the practice looks to be here to stay.
-Alex Kurtagic
#7. To: Tatarewicz (#0)
Well, that will certainly be true for me this season. Although in this case it was $1200 to an auto mechanic this afternoon. The huge chunk of each shopper’s holiday budget that gets spent between Thanksgiving and Cyber Monday.
#8. To: Ferret (#1)
Good to see your voice. I hope all has been well. Happy Holidays!
"“Believe nothing merely because you have been told it. Do not believe what your teacher tells you merely out of respect for the teacher. But whatsoever, after due examination and analysis, you find to be kind, conducive to the good, the benefit, the welfare of all beings - that doctrine believe and cling to, and take it as your guide.” ~ Gautama Siddhartha — The Buddha
Any sufficiently advanced stupidity is indistinguishable from evil. ~ Unk (Paraphrase of Clarke's 3rd Law: "Any sufficiently advanced technology is indistinguishable from magic.")
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