Retailers are offering steep discounts both online and in-stores, which may pinch profit margins in the fourth quarter.
With the Thanksgiving turkey digested, shoppers were expected to turn out in record numbers to shop for Black Friday deals. However, with inclement weather, thin crowds were seen outside stores on what has historically been the busiest shopping day of the year.
An estimated 166.3 million people are planning to shop from Thanksgiving Day through Cyber Monday this year, according to the National Retail Federation, almost 8 million more than last year. Outside the American Dream mall in East Rutherford, New Jersey, there were no lines outside stores. A ToysRUS employee was seen walking around the mall handing out flyers with a list of the Black Friday door busters.“There’s a lot of deals that weren’t advertised. Some of the stores I got 50% off everything I bought,” said Christine Chavez, 45, from Monmouth County, New Jersey. She added that she is primarily gift shopping and picked up items from Victoria Secret and Torrid.
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