Black Friday Sales May Not Be That Good This Year

As more and more Americans are becoming unemployed, the jobless rate in this country is at an all time high right now. Retailers are hoping that the deteriorating economy won’t hurt their annual retail blow out.

Usually bargain hunters look for the “must have” items on Black Friday. The items that go on sale that are too good to pass up. However, this year’s Black Friday ads don’t point to many of those items being offered. Stores like Kohl’s and Toys ‘R Us are hoping that their sales can attract the kind of Black Friday power they’ve seen in the past.

What may be adding insult to injury are the huge 60% or more sale posters already plastered in stores. Consumers aren’t buying it; they are only buying the items they really need on Black Friday.

Analysts are saying this could be the saddest Black Friday ever, reporting that consumers will be buying ‘cosmetic’ type gifts versus those $1,000 flat screen TV’s. Unemployment, credit debt and vanishing 401K’s will be on the minds’ of this years’ Black Friday shoppers. Weak sale items won’t.

According to the International Council of Shopping Centers-Goldman Sachs Index (they measure sales at stores opened within the last year), October was the worst for retailers in 39 years. The Council is expecting to see even weaker sales in November, in spite of Black Friday offers.

Discount retailer Kmart started offering merchandise at Black Friday prices at the beginning of November; something the store had never done before. Even drug store chain CVS Caremark Corporation is getting into the early Black Friday act, by doing a weeklong Black Friday promotion which began on Sunday.

''Black Friday is going to have some very impressive deals, but overall the deals won't be any better than what you saw before,'' despite all the hype, said Dan de Grandpre, founder and editor-in-chief of dealnews.com. ''Retailers have already given their best shots already.''

In the past Black Friday has served as a measure of consumer’s willingness to spend, not necessarily a predictor of the holiday season. However, job worries and tightening credit is more of a concern this year than in the past.

According to ShopperTrak RCT Corporation, Black Friday weekend accounted for 10.1% of all holiday sales. Yet Bill Martin, ShopperTrak’s co-founder believes shoppers may be more cost conscious this year, Black Friday will still be the biggest retail selling day of the season.