What recession? Shoppers eat up Black Friday deals
http://finance.yahoo.com/news/What-recession-Shoppers-eat-apf-3019348230.html?x=0&sec=topStories&pos=4&asset=&ccode=
For one day at least, you could almost imagine the recession never happened. Millions of the nation's shoppers braved rain and cold to crowd stores while others grabbed online bargains on what could be the busiest Black Friday ever.
Early signs pointed to bigger crowds at many stores including Best Buy, Sears, Macy's and Toys R Us, some of which had earlier openings than past years or even round-the-clock hours. Minnesota's Mall of America and mall operators Taubman Centers Inc. and Macerich Co. also reported more customers than last year.
This year's Black Friday news stories are reading a lot like last year's Black Friday stories - namely, a big initial boost only to be followed by apathy, lackluster follow-through, and eventual disappointment. Will it turn out the same this year? I think so. I think there's pent-up demand out in the American landscape but Black Friday deals always draw in the crowds. However, after the "doorbuster" sales are over, demand will slump and the cash registers won't be ringing too heartily in the next few years. This is just my guesstimate. Of course, the sales boom could continue but I don't think so.
There are blue skies ahead and boom times are brewing. Just not so soon. There were no stampedes at Walmart yesterday but there was one at a Target store in North Buffalo. I abhor rampant consumerism but I work for a company that owns retail properties. However, the difference between our company and the others is we don't do any sales. I don't think they even care if they sell anything on Black Friday but I guess if they sell one toolbox on Black Friday at full price, that's cool. Shrug.
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