Black Friday 2010 Speculation: Will It Still Be A Huge Event During This Economy?
With analysts predicting a slow and cautious economic recovery for much of the country
, how will the population respond during the 2010 holiday shopping season?
According to Bloomberg News: "Americans have grown gloomier about the economy even as the U.S. shows signs of moving from recession to recovery (F)ewer than 1 in 3 Americans think the economy will improve in the next six months..." Will such a stark outlook drive consumers to tighten their belts and do without lavish presents and technology upgrades or will they just become more selective with their shopping dollars?
Sites such as The Black Friday and BFreedom are predicting that Black Friday will continue its appeal and bring the shoppers out on the holiday weekend or cruising the online sales from the comfort of their homes. Many people are planning to hit the sales for their larger holiday gifts but some are also looking to Black Friday for their home renovation purchases of appliances and home theater upgrades. A year of restricted buying and responsible budgeting may lead people to look for greater quality and lasting technological relevancy rather than gimmicky new features. There could be a greater turn out for items such as furniture and computers rather than in areas such as fashion and toys.
With Bloombergs so called gloomy outlook, retailers can expect the public to be tightening their wallets and rewarding those stores that offer the best sales with the fewest limitations on products. The lack of disposable income will further fuel higher expectations for greater savings and bonus features rather than the mob mentality of previous years.
Retailers will most likely be continuing the trend of offering more deals during the month and especially the week before Black Friday and Cyber Monday to lure the crowds in. Luigi Lugmayr has analyzed the 2009 holiday shopping season and extended those trends into predictions for the upcoming 2010 event. I think he may be onto something, especially with all of the upcoming new video games and innovative options in eReaders scheduled for release at the end of 2010. With so many more choices available in eReader technology, hardware and content and the exciting buzz surrounding developments in the gaming arena such as Project Natal and Rock Band 3, this holiday shopping season holds plenty of promise.
With several months to go before the true Black Friday frenzy heats up and plenty of time for the retailers to begin wooing the wallets of the American public anything can happen.