Businesses hope consumers buy into Black Friday
November 24, 2008
The economy may not be so cheery, but local businesses are hoping that this Black Friday will make for a profitable holiday shopping season. Taking place the day after Thanksgiving, Black Friday is the official kickoff to the holiday shopping season.With stores offering longer hours, doorbusters and limited-time sales, Black Friday has become a holiday tradition for many consumers.
Stores draw customers in on Black Friday with one-day-only discounts and limited-supply items, yet there are predictions for an overall decrease in the holiday shopping season from last year, said Ken Troske, a UK economics professor.
“There is an expectation that retailers are concerned about the perception of the economy to consumers,†Troske said. “People are feeling more pessimistic.â€
With the current state of the economy, local business owners are anxious to see the outcome of Black Friday.
“We are concerned but staying positive, and I am personally staying hopeful for a pick-up in business,†said Pat Bardo, owner of Outside the Box gift store on East High Street and president of Woodland Triangle Business Association.
Stores have had to use different tactics this season and increase advertising to appeal to customers, Bardo said.
Alison Meyer, owner of Two Chicks and Company gift store on Southland Drive, is offering a 10 percent discount to all college students this season to bring in more customers. Meyer is relying on her store’s specialty gifts and personalization to appeal to customers more than ever this year.
“People are price conscious and wanting to get more bang for their buck this season,†Meyer said. “I’m staying positive because people can find reasonable gifts here that are personable.â€
Despite the gloom that has been associated with the state of the economy, both Meyer and Bardo are relying on holiday spirit to motivate consumers.
“The holidays are all about feeling good,†Bardo said. “They might not want to spend on big ticket items, but gift giving will be something people aren’t willing to give up.â€
Laura Kinsley, a merchandise, apparel and textiles senior, said she predicts that most demographics are spending less this season.
“I wouldn’t be surprised if Black Friday sales are down because people have less faith and sense of security in the economy,†Kinsley said. “People are more prone to saving this holiday season.â€
For Andy Szybitsy, a history junior, Black Friday is the retail equivalent to the Super Bowl.
“On Black Friday, I tailgate and wait for the doors to open,†Szybisty said. “I want to be the first one there.â€
Szybitsy said he regularly visits Web sites such as slickdeals.net to find and plan for the best deals on Black Friday.
Even though Szybisty said he will be spending less money this year on Black Friday than in recent years, he looks forward to finding the best deals to make up for his tighter budget.
“I would hope that businesses are trying to put out more holiday spirit,†he said. “I think people are having to tell their friends and family not to expect as much this year.â€