Source: http://ift.tt/eKERsB - Friday, November 28, 2014
Washington (AFP) - Black Friday, the biggest US shopping "holiday," kicked off with expectations that lower gasoline prices and higher consumer confidence could mean better year-end retail sales than last year. But there was little sign of the buying fever of years past, after many retailers started Black Friday sales early, turning Thursday's Thanksgiving Day holiday into what the industry has dubbed "Gray Thursday". "Gray Thursday is cannibalizing from Black Friday," Chris Christopher, director of consumer economics at IHS Global Insight, said in a phone interview. Christopher said that anecdotally he had heard that stores action was "relatively thin." Many customers have already taken advantage of heavy discounts in early November to get their shopping out of the way, he said. And, according to the research firm's data, there will be about 10 million fewer people receiving a paycheck on Black Friday than last year. The median household income, adjusted for inflation, is about eight percent below its 2007 level, with most of the income growth seen by the top five percent of earners. Big retail chains like Walmart, Target and Macy's opened their doors at 6:00 pm Thursday (0100 GMT Friday) in hopes of boosting their weekend sales, even before many Americans had finished the traditional turkey holiday feast. Walmart said Friday that more than 22 million customers flocked to their stores on Thursday, the same as in 2013. "Online sh
from Top News on RSS Feeds http://ift.tt/1vtuGKC
Washington (AFP) - Black Friday, the biggest US shopping "holiday," kicked off with expectations that lower gasoline prices and higher consumer confidence could mean better year-end retail sales than last year. But there was little sign of the buying fever of years past, after many retailers started Black Friday sales early, turning Thursday's Thanksgiving Day holiday into what the industry has dubbed "Gray Thursday". "Gray Thursday is cannibalizing from Black Friday," Chris Christopher, director of consumer economics at IHS Global Insight, said in a phone interview. Christopher said that anecdotally he had heard that stores action was "relatively thin." Many customers have already taken advantage of heavy discounts in early November to get their shopping out of the way, he said. And, according to the research firm's data, there will be about 10 million fewer people receiving a paycheck on Black Friday than last year. The median household income, adjusted for inflation, is about eight percent below its 2007 level, with most of the income growth seen by the top five percent of earners. Big retail chains like Walmart, Target and Macy's opened their doors at 6:00 pm Thursday (0100 GMT Friday) in hopes of boosting their weekend sales, even before many Americans had finished the traditional turkey holiday feast. Walmart said Friday that more than 22 million customers flocked to their stores on Thursday, the same as in 2013. "Online shfrom Top News on RSS Feeds http://ift.tt/1vtuGKC
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