Retailers are going into hyper-drive to attract shoppers before Black Friday, the day after Thanksgiving that officially kicks off the holiday shopping season.
No longer tripping over one another to announce earlier-than-ever opening times on Turkey Day, merchants are heavily promoting discounts well before the turkey is carved.
For retailers, the last few months of the year are crucial, with some raking in 40 percent of their annual revenue during this time.
Anxiety in the retail industry has grown recently after some companies warned of surprisingly low consumer demand.
Retail sales in October edged up only slightly after two flat months, according to the Commerce Department. Even months of gasoline savings have failed to spur spending, with many consumers choosing to bank those dollars or pay down debt.
The National Retail Federation, a trade group, forecasts that sales during November and December will climb 3.7 percent to $630.5 billion, slightly below the 4.1 percent growth of last year. Consumer spending accounts for more than two-thirds of economic activity, making retail sales a strong gauge of the nation’s economic health.
Shoppers will spend $1,463 on average during the holiday season, up from about $1,300 a year earlier, according to a survey by Deloitte & Touche. But most of that uptick isn’t buying gifts but going into categories such as furniture and entertainment, the survey found.
“Spending will be a bit up from last year but not any great improvement over last year,” said Jackie Fernandez, a retail partner at Deloitte & Touche. “It’s probably going to be a pretty good holiday.”
Overall, analysts agree with that assessment of a decent — though not blockbuster — retail season.
Even that kind of showing could be crushed if terrorists strike again. Poor economic news could also dampen enthusiasm.
Retailers started opening on Thanksgiving a few years ago, when companies nudged their Black Friday hours forward — and forward again in subsequent years.
But this year, some companies are bucking the trend and proudly advertising their resistance.
Many companies are rolling out deals aggressively throughout November and December, and shoppers know that they can expect deep discounts in the days leading up to Christmas, analysts said.
Macy’s Inc. Chief Executive Terry Lundgren set the tone for a cut-rate Christmas when he warned analysts nearly two weeks ago that the department store chain planned significant markdowns, particularly of apparel, to clear out old goods by the end of the year.
“Black Friday isn’t what it used to be,” said Barbara Kahn, director of University of Pennsylvania’s Jay H. Baker Retailing Center. “It’s not concentrated in a few days anymore. The idea of shopping online has introduced this notion of 24/7, any time you feel like it.”
Last year, Black Friday weekend sales fell 11 percent and shopper traffic was down 5.2 percent from a year earlier, according to the National Retail Federation.
For the first time, Wal-Mart Stores Inc. said it will make the majority of its Black Friday deals available online starting at 12:01 a.m. Thursday. Target rolled out “10 Days of Deals” beginning Sunday and a Black Friday presale Wednesday.
“We are looking for ways to offer guests deep discounts across a longer period,” Target spokeswoman Amy Joiner said.
That has become more important to bricks-and-mortar retailers, which are fighting to woo shoppers increasingly opting to avoid elbow-to-elbow crowds and order online. Nearly 50 percent of shoppers plan to shop for gifts online, compared with 44 percent in 2011, the Deloitte survey said.
