Black Friday came early this year, signaling worries about holiday demand
Publishing timestamp: 2023-11-17 12:12:25
Summary
The article discusses how early Black Friday discounts in October were higher compared to previous years, indicating retailers' concerns about holiday demand. The depth of discounts and the total number of items on sale were also higher. While some categories saw fewer discounts, overall promotions were significant. The article mentions data from Adobe Analytics and GlobalData to support these findings. The discounts and promotions are seen as a way for retailers to drive demand among cautious consumers and remain competitive. However, the article also raises concerns about the long-term impact of conditioning consumers to expect discounts and the potential struggle for retailers to convince them to pay full price.
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Keywords: tjx companies inc, business, retail industry, gap inc, business news, adobe inc., breaking news: business, target corp, walmart inc,
Source: https://www.cnbc.com/2023/11/17/early-black-friday-discounts-higher-2023.html