Holiday Shopping Expects the “Trump Bump” Retailers Happy
Black Friday, the day after Thanksgiving that’s been the traditional kickoff to the holiday shopping season, now it is no longer a 1 day event.
The WS-J reported Thursday shoppers have already spent $27.2-B between 1 and 23 November, a 4.3% hike over the same frame last year.
Adobe Systems (NASDAQ:ADBE), which analyzed data from 21-B visits to retail websites, is predicting online spending Thanksgiving Day would reach $2-B, up 16-B from a year ago.
According to the WS-J, traditional retailers have been moving discounts earlier in the month to get an edge in the battle for shoppers both online and off.
Black Friday, though no longer the busiest shopping day of the year, is still Key to retailers.
Shoppers are expected to spend $27-B on the day, making it the 2nd-biggest US shopping day of the year behind Super Saturday, which falls the weekend before Christmas, according to the consulting firm Customer Growth Partners.
The National Retail Federation (NRF) forecasts total Holiday shopping will rise 3.6-% to $655.8-B from a year ago with 137.4-M people shopping in stores and online during Thanksgiving weekend alone.
Then there is the “Trump Bump” expected from President-elect Donald Trump’s promise to stimulate the economy and lower taxes, meaning a large segment of the population that was previously reluctant to spend now feels better.
Have a terrific weekend.