Monday, October 6, 2014

WSJ: Expect Retailers to Open Even Earlier This Thanksgiving

Andria Cheng at the Wall Street Journal wrote up an article about how retailers are expected to be open for a full day of shopping on Thanksgiving Day.

While retailers aren’t expected to announce any special Thanksgiving hours until the second half of October or into November, “it’s inevitable to see them open all day or even earlier than last year,” Joel Bines, managing director and co-leader of consulting firm AlixPartners’ retail practice, said in an interview.
(from: WSJ: Expect Retailers to Open Even Earlier This Thanksgiving)

Even though retailers are planning to make people work on Thanksgiving Day, it may not even do much to boost their sales.

To be sure, opening early on Thanksgiving may do little more than ruin employees’ turkey feasts.

Last year, retailers from Wal-Mart and Best Buy to Macy's and J.C. Penney opened stores or kicked off sales events earlier on Thanksgiving. Still, record Black Friday weekend sales didn’t salvage what turned out to be a disappointing holiday season.

“With the soft sales outlook, we do anticipate a few earlier openings” on Thanksgiving, or even a few more all-day openings, Mr. Johnson of Customer Growth said. “However, there is a law of diminishing returns,” and stores risk cannibalizing their December sales.
(from: WSJ: Expect Retailers to Open Even Earlier This Thanksgiving)

So even though some retailers will admit that shopping on Thanksgiving doesn't help their sales, and shopping too early can actually harm their December sales, they're all going to go through with it.

You can follow Andria Cheng on Twitter at: @andriacheng and as always we're at @respectturkey

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