• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / Black Friday will still be wacky, but not as relevant for retailers

Black Friday will still be wacky, but not as relevant for retailers

November 22, 2012 By Matt Kelley

Economist Ernie Goss

While tomorrow is what’s become known as Black Friday for the frenzied kick-off of the holiday shopping season, one financial expert says it’s not the buying bonanza it once was.

Creighton University economist Ernie Goss says many Iowa malls will still be a madhouse, but the allure of bargain-hunting has faded for many shoppers.

“Black Friday is becoming less and less of the ‘big day’ and what retailers have done, of course, is they’ve extended it,” Goss says.

“Right after Halloween, you begin to see advertisements for Christmas buying, holiday buying, and we’re seeing that inch back more and more each year.”

A Creighton survey projects holiday shopping may only be up two or three-percent from last year, while online buying may rise as much as 20-percent. Goss says many people already have their gift purchases complete.

“We’re going to still see Black Friday being a very big day for spending by retailers but in comparison to previous years, each year it’s becoming less and less of a big deal,” Goss says. “By the same token, (the holiday buying season) is being stretched out by retailers and, of course, that tends to add to their bottom line.”

Several major retailers, including Target, Sears, Toys-R-Us and Walmart, are opening tonight for special gift-buying events. It used to be considered forbidden to interfere with the “family” day of Thanksgiving, Goss says, but no more, as the spectacular sales are starting in just a few hours.

“Many of us would like to see it less commercialized but it’s to some degree, the retailers are taking advantage of it, making it more of a party atmosphere, lining up long lines so you can rush in and get the few items that are really marked down,”

Goss says. That applies especially to big TVs and other electronics, as well as a list of hot-selling toys.

Share this:

  • Facebook
  • Twitter

Filed Under: Business, News, Recreation / Entertainment

Featured Stories

ISU research finds health benefits for chickens watching virtual reality

Fish kill at Storm Lake linked to virus that impacts only carp

Final employee who was there at the launch of the Iowa Lottery to retire

No more USPS mail in Iowa prisons; inmates to get copies of mail

State officials warn of influx of fake prescription drugs laced with fentanyl

TwitterFacebook
Tweets by RadioIowa

Grinnell College football looks for more progress in rebuild

Iowa State’s Brock eyes expanded role

Iowa’s Jones adjusting to move to center

Iowa unranked to open the season

UNI’s Spencer Cuvelier bounces back from injury

More Sports

eNews and Updates

Enter your email address:

Delivered by FeedBurner

Archives

Copyright © 2022 ยท Learfield News & Ag, LLC