Retailers are already gearing up for Black Friday.
However, Purdue University Retail Management Professor Richard Feinberg says Black Friday isn‘t as important as it used to be.
He says consumers have come to expect year-round, “doorbuster sales.” Feinberg says these sales are great for consumers, but not so good for retailers.
He says since consumers are so conditioned to expect special sales these days, retailers must keep engaging with them in order to bring them into stores.
Feinberg says Black Friday got the name more than 20 years ago because that‘s when retailers become “profitable.” However, Feinberg says retailers become profitable from quarter to quarter.
Despite Black Friday, Feinberg says this Christmas shopping season looks lackluster. He expects sales this year to remain flat due to unemployment and underemployment. In Indiana, Feinberg says the re-establishment of the payroll tax last January means Hoosiers have $800 to $1200 less this year to spend. Feinberg says that means every single day through the holidays is very important for retailers.