The best Black Friday deals are occurring as prices drop more than ever due to retailers accommodating lower budgets and higher demands from customers.
The ongoing economic downturn placed intense pressure on stores such as Best Buy, Walmart, Target, Toys R Us and others to offer the best sales yet, and it is making them take a risk on profits in return of massive customer interest, according to Bloomberg.
Sears will offer customers $3,000 in savings in their coupon book, but only the shoppers willing to line up in the early hours of the morning will be able to take advantage of the deals.
Walmart and Best Buy are also trying to outperform each other by attracting more customers with huge savings on HDTVS, laptops and other electronics offered as one of the main incentive for consumers.
Another big change this year is the extra-early, or late, opening times.
Despite petitions from angry employees who do not wish to cut short their Thanksgiving dinner short and come in to work early, many retailers are opening their doors on Black Friday at midnight, and some, like Toys R Us, are starting as early as 9 p.m. on Thursday night.
The Bloomberg Consumer Comfort Index released a report on Oct. 30 that shared United States consumers will certainly be spending less this season, as unemployment rates in the country remain close to 10 percent.
American consumers will still want to get their hands on the latest products; thus, forcing retailers to scale down the prices to not risk losing customers.
Toys R Us Chief Executive Officer Gerald Storch shared in an interview with Bloomberg his take on why retail giants have given way to customers so much this season.
“There is incredible pent-up demand from shoppers and we have to make sure that they don’t do their shopping without seizing some of our bargains,” said the CEO.