Daily News | Many Philly retailers started Black Friday sales weeks early, hoping ‘buzz’ will drive demand
“Black Friday and Small Business Saturday are not a big deal anymore after that,” said co-owner Brian Michael.As Thanksgiving week approached, Drexel’s Hmurovic said consumers were reporting “subdued enthusiasm” for shopping that week, due to both economic concerns and the elongated holiday shopping season taking away some excitement from the weekend.
“I don’t know if they’re doing that because they’re nervous about what’s coming down the road or excited” about seeing family and friends, she said. “Maybe it’s a way to escape what’s going on in the economy or other stresses in their life.” Some will spend despite economic hardship: Of those Deloitte surveyed, 41% said their financial outlook was worse than last year, something only 20% of respondents reported in 2021.
And it will certainly come via fewer blockbuster Black Friday deals at mall department stores, said AlixPartners’ Eshelman.
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