Nov 23, 2009 7:47 pm US/Eastern
Black Thursday? Many Retailers To Open On T-Giving
NEW YORK (CBS) ―
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Shoppers rush in a Best Buy store at 5 a.m. on Nov. 28, 2008, in Los Angeles, Calif., a day after Thanksgiving. Thousands of shoppers queued up for hours outside many retailers to take advantage of Black Friday deals.
Jewel Samad/AFP/Getty Images
There's no need to wait until Black Friday for big holiday shopping discounts. Now you can try Thursday – as in Thanksgiving.
Some major retailers will be open as you carve your turkey this holiday season, but it's a concept some shoppers are finding difficult to digest.
Walking out of their favorite retailer, Neville and Charmaine Alleyne were dismayed by the news that Wal-Mart and several other leading stores will open on Thanksgiving Day. Among those retailers are Gap, Old Navy, and Banana Republic.
"It's an important time to be with family," ____ said. "That's what we're giving thanks for."
"For them to be open 24 hours is not right, in my opinion," ___ said.
The Alleynes say opening on an important American holiday is crass and commercial, and predict consumer backlash if Thanksgiving Day becomes the new Black Friday.
Fearing the weakest shopping season in 40 years, and attempting to avoid any repeats of last year's stampede trampling death at one of their locations on Long Island, Wal-Mart will remain open 24 hours on Thanksgiving Day.
Toys 'R' Us will open at midnight on Black Friday – five hours earlier than usual. The Roosevelt Field Mall will offer cookies and coffee at 5 a.m. Friday to those standing in line. Best Buy will play music to keep the crowds entertained. Kohl's month-long parade of promotions is already underway.
The increased hours and flexibility give consumers a new option – to avoid the long lines and crazed crowds while also spreading out their spending.
Fearful retailers have also reacted to decreased customer spending by stocking less. They don't want to get stuck with leftovers in January.
"there's not enough merchandise on the shelves," shopper Robin Scheiner said. "The shelves are empty – there's nothing to choose from."
Analysts say there is a reason retailers have gone from festive to frugal.
"I don't think it represents a sign of greed on the part of retailers," Adelphi University professor Rebecca Coleman-Curtis said. "We know they are trying to break even."
Some analysts say it's important to be organized, and to plan ahead and have a strategy in mind. Shop early for the most sought-after toys, electronics and clothing accessories; wait for better deals on less popular items.
Analysts predict shoppers will spend about $4.5 billion less on retail goods during November and December this year than they did last year.
(© MMX, CBS Broadcasting Inc. All Rights Reserved.)
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