In less than two weeks, most people will be stuffing their face with turkey and drizzling everything on their plate with gravy.
However, some may be quickly scarfing down their plate and getting everyone in their family ready to line up outside of stores like Walmart, as retailers open their doors early to take full advantage of blow-out Black Friday sales.
The Pros of Opening Early for Black Friday
One key differentiator is that you’re certainly gaining an advantage over retailers who are choosing to remain closed on Thanksgiving. Over the years, we have seen stores opening earlier and earlier. If shoppers have been preparing to head out earlier and skip out on football and dessert, then it makes sense from a business standpoint for retailers to open their doors.
Additionally, if only a handful of retailers are open to begin with, then consumers only have a short list of stores to visit. Thus, this move could generate a significant amount of revenue. According to National Retail Federation, from Thanksgiving Day through Cyber Monday, more than 174 million Americans shopped in stores and online. Additionally, average spending per person over the five-day period was $335.47.
The Cons of Opening Early for Black Friday
Did you know? There are way more stores closed on Thanksgiving Day than stores that will be open. H&M, IKEA, Nordstrom, and Mall of America, just to name a few, will NOT be open on Thanksgiving.
The idea of stores opening on Thanksgiving has gained some negative traction as some consider it greedy. Some retailers, like REI, are not opened on Black Friday at all. REI’s CEO, Jerry Stritzke, told Business Insider that, “It’s the right ethical move. It’s the right business move.”
Another potential con is the effect this can have on employee morale. The employees who will have to work through the Black Friday madness might grow extremely remorseful. While consumers may love the idea, I can speak firsthand and say that employees feel the complete opposite.
When I worked in retail, management looked forward to this day, as they would see an increase in revenue and an uptick in their conversion rates. However, no amount of free pizza and snacks could increase morale among my fellow employees and me.
As Thanksgiving and Black Friday approach, will you be inside eating and spending quality time with your family? Or, do you have your flyers printed, and items already highlighted on what you are planning to purchase for the holidays?