ML-Implode News - Black Friday Falters as Consumer Behaviors Change

``Seven decades later, Black Friday has lost its distinctive edge. Sure, tens of millions of Americans will still hit the malls this Friday. But the relentless race for holiday dollars has blunted the day's oomph, as stores offer deep discounts weeks before Thanksgiving and year-round deals in stores and online are breeding sales fatigue. Some fed-up shoppers cheered this year when the outdoors retailer, REI, declared it was opting out of Black Friday sales altogether.
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But contrary to doom-and-gloom predictions this holiday season, dwindling sales for the long Thanksgiving weekend (which now begins on Thursday afternoon) do not necessarily signal a cautious consumer. Americans are generally spending just as much of their hard-earned dollars as in the past... "They're online," Mr. Canally said. "And they're spending more on experiences. A day at the spa, a baseball game, the ballet -- rather than a sweater or a pair of socks that no one wants."

Of course, as the chart in the article shows, Black Friday + Cyber Monday sales are still way down from a peak in 2012. So the "don't worry, everything is still actually the same" mantra of the article (a NY Times staple theme) is obviously not accurate. The best they could muster is that consumer spending was up 3% in the last year... but that seems to be little more than inflation keep-up to us...

Relevant:

Black Friday Falters as Consumer Behaviors Change