Update: Thursday, November 10, 2011
Walmart will open its doors at 10 p.m. on Thanksgiving Day for Black Friday deals. Other retailers, like Target and Old Navy, will follow closely by embracing midnight doorbusters on Black Friday.
"For a store like Walmart, this last month could be as much as 31 percent of their revenue, so it's huge. It makes kind of a lackluster year, as this year has been, it can mean a difference between a good season or not," said Dr. Roberta McKee, Wichita State University Barton School lecturer in the Department of Marketing.
Although retailers will be competing with one another, McKee says consumers will be the winners during Black Friday.
There are other deals that weekend, including "Small Business Saturday," which encourages shopping at local stores, and "Cyber Monday," for online deals.
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Thursday, November 10, 2011
The nation’s largest retailer is rolling back the holiday shopping season.
Walmart announced Thursday that stores will open at 10 p.m. Thanksgiving night. The big box store also revealed Black Friday sales to customers on its Facebook page.
Walmart is trying to get a leg up on its competitors by revealing its deals much earlier than it did last year on Nov. 22. The company said deals on toys, home items and clothing will start at 10 p.m. on Thanksgiving day. Electronics deals will start at midnight, including over $100 off an Xbox360 game console. Other deals will begin at 8 a.m. on Black Friday.
"The Christmas Price Guarantee does not cover local competitor's offers during the "Black Friday" day after Thanksgiving event," according to a spokesperson for Walmart. "However, our regular ad match policy will still be in effect that day."
Meanwhile, Gap, Old Navy, Banana Republic, Macy's, Kohl's and Target are reportedly embracing a midnight schedule.
Competitiveness in the retail sector intensifies every holiday season, though Target said it still plans to reveal its Black Friday deals the day before Thanksgiving. Holiday activity provides about 20 percent of retailers' annual sales every year.
Last week, Amazon launched its early Black Friday deals store for those looking for discounts on such products as cameras, video games and jewelry.
But some experts said consumers should not get too excited about pre-Black Friday, noting the best deals are still to come. Many retailers are trying to lure customers early due to a struggling economy. According to the National Retail Federal, retail sales for 2011 are expected to increase 2.8 percent to $465.6 billion.