Black Friday draws early shoppers, but real frenzy is online

MNA Business Desk: Turnout at U.S. retailers was relatively subdued on Black Friday, with many shoppers flocking to stores to eye items in person and enjoy the festive atmosphere while waiting to do their actual bargain hunting online.

There were few signs of the over-the-top frenzy that had been a hallmark of the start to the U.S. shopping season in years past, and some stores appeared to be getting creative with gimmicks beyond heavy discounts to lure shoppers through their doors.

The day after Thanksgiving is traditionally when retailers offer “doorbuster” deals attracting bargain hunters. Many department and big-box stores have said they will compete fiercely on price this quarter while keeping inventory lean.

But online demand may help make up for lackluster store traffic, and even the subdued in-store activity this year marked an improvement over recent years.

Macy’s Inc Chief Executive Jeff Gennette told media on Friday that the retailer was better off this year than last, had robust online demand and was in a good place for holiday promotions, sending the retailer’s shares up more than 4 percent in early trading.

The period between the U.S. Thanksgiving holiday and Christmas can make or a break a retailer, accounting for as much as 40 percent of total revenue for the year.

More people picked up deals online and the traditional rush was split by stores opening the night before. Godiva gave out free chocolates, Sephora offered face masks and perfumes and dancers entertained Bergdorf Goodman shoppers, according to the New York Post.

The deepest Black Friday discounts included more than $200 off some BestBuy TVs, all bras across Victoria’s Secret Pink stores sold for $25, half-price video games at Target, and $50 off PlayStation 4 Pro gaming consoles at Walmart.

The challenge for retailers will be to convert early spending into a desire to spend throughout the season and to go beyond deep discounts, NPD Group Chief Industry Analyst Marshal Cohen said in a note.

There were some signs, however, on Thursday night of the shopping frenzy that Black Friday is traditionally known for.