While the lead up to Christmas is known as the season of giving, Black Friday can get ugly.
Last year a crowd of bargain-hunters killed a Wal-mart worker in a New York suburb. This year, many stores are increasing security while they slash prices. “This is a huge time for the retail stores,” said Fred Joutz from George Washington University. “This is when they begin making their profits for the year.”
Economics professor Fred Joutz says how Americans spend the weekend after Thanksgiving is a good indication of how consumers feel about the future.
With the unemployment rate above 10 percent, Joutz says Americans are saving more and spending less. “Credit is still strictly controlled whether through credit cards or through borrowing from banks,” he said. Some retailers are attracting consumers by opening on Thanksgiving Day, when shops are traditionally closed. Other stores open their doors anywhere from midnight to four in the morning.
And shoppers will be lining up in front of the doors in order to be one of the first ones to walk through and get a big discount. Electronics like flat screen TVs are usually the first items to go. Sandy Thomas says it’s an annual family tradition and well worth it. “I just save maybe half of what I would have spent on a regular, you know, shopping trip,” she said.
Economists say U.S. consumers will spend money this Black Friday, but they will spend it more carefully.
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