It's the most profitable time of the year for retailers, accounting for 20 to 30 percent of annual revenue.
And this year, close to 150 million U.S. citizens will go shopping over Thanksgiving weekend, says Kathy Grannis Allen of the National Retail Federation.
"So this is our Super Bowl," she said. "And this is really the one time in the year that the gloves are off and the competition just heightens."
To compete, some stores will open early and stay open later. Nearly all promise big savings to attract the maximum number of shoppers.
Bucking the trend
But this year, some retailers – including Nordstrom and Costco – will remain closed on Thanksgiving, while outerwear retailer REI will be closed on Black Friday as well. While their profits could take a hit, business author Kevin Paul Scott says the message is about tradition and family values.
"And people will remember that," he said. "And beyond the holidays, when they're buying Mother's Day and Father's Day gifts next May and June, they will remember these retailers – they'll spend more money there and those retailers win in the long run."
Overall, more people are opting to avoid the crowds. This year, the NRF says more than half of all holiday purchases will be made online – with one in five Americans using a tablet or smartphone. That's the highest since the NRF started asking the question in 2011.
"The most interesting part is not how much they spend, although that's important," Paul Scott said, "but where they're spending it. And we're going to see online shopping really, I think, put a dent on a lot of traditional brick-and-mortar stores this year."
Ready to spend
Despite tepid sales last month, lower unemployment and rising wages could give Americans more disposable income this year, says economist Gus Faucher.
"They're benefiting from lower gasoline prices, as well." Faucher said. "That gives them more money to spend on things, lower home-heating costs, so that's good news. We're adding a lot of jobs, seeing stronger wage gains. I think that people are going to be in the mood to spend."
According to the NRF, the average American consumer will spend about $805 dollars on gifts this season. That's more than $630 billion between November and December, an increase of 3.7 percent from last year.
Vocabulary
brick-and-mortar:(有)实体的
tepid:微温的;不太热烈的
新概念英语第二册英音版 23-A New House
新概念英语第一册英音版 137&138-A Pleasant Dream
新概念英语第二册英音版 33-Out of the Darkness
新概念英语第二册英音版 17-Always Young
新概念英语第一册英音版 135&136-The Latest Report
新概念英语第二册英音版 10-Not for Jazz
新概念英语第二册英音版 02-Breakfast or Lunch
新概念英语第二册英音版 35-Stop Thief
新概念英语第二册英音版 01-A Private Conversation
新概念英语第二册英音版 22-A Glass Envelope
新概念英语第二册英音版 24-It Could be Worse
新概念英语第二册英音版 30-Football or Polo
新概念英语第一册英音版 139&140-Is That You, John
新概念英语第二册英音版 43-Over the South Pole
新概念英语第二册英音版 32-Shopping Made Easy
新概念英语第二册英音版 19-Sold Out
新概念英语第二册英音版 29-Taxi
新概念英语第二册英音版 20-One Man in a Boat
新概念英语第二册英音版 44-Through the Forest
新概念英语第二册英音版 28-No Parking
新概念英语第二册英音版 34-Quick Work
新概念英语第二册英音版 41-Do You Call That a Hat
新概念英语第二册英音版 13-The Greenwood Boys
新概念英语第二册英音版 36-Across the Channel
新概念英语第二册英音版 06-Percy Buttons
新概念英语第二册英音版 38-Everything Except the Weather
新概念英语第二册英音版 11-One Good Turn Deserves Another
新概念英语第二册英音版 12-Goodbye and Good Luck
新概念英语第二册英音版 21-Mad or Not
新概念英语第一册英音版 133&134-Sensational News
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