Black Friday has conventionally been the most profitable day od the year for most businesses. Millions of Americans get Christmas gifts on the day, significantly bolstering the sales and profits of retailers. This year, the occasion is expected to rake in $32 billion worth of revenue.
According to the National Retail Federation, some 147 million Americans have plans of buying Christmas gifts this year. The number of lower in comparison to the 152 million Black Friday shoppers last year.
Nonetheless, this year’s shoppers are expected to spend a lot more than last year on Black Friday deals. To be precise, it is expected that every shopper will be doling out $218 on his gifts this Christmas. Multiply that with the expected figure of 147 million shoppers and you get a number in excess of $32 billion.
That is a whole lot of capital which will move from the customers’ hands to the U.S. economy. And the customers are expected to spend it in purchasing electronics, most notably tablets, smartphones, game consoles as well as in doing e-shopping. Like every year, retailers are offering lucrative discounts to attract the greatest number of sales.
However, amid all this merriment, a significant number of customers are worried about the situation of the economy and the imminent fiscal cliff which will impact all Americans across the board. Heightened tax rates introduced by the U.S. government will significantly affect the spending trends among the customers, a fear that was resounded by those surveyed about their Black Friday plans.
Courtesy: Venture Beat
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