With analysts predicting a slow and cautious economic recovery for much of the country, how will the population respond during the 2010 Christmas shopping season?
According to Bloomberg New: “Americans have become more pessimistic about … the economy … even as the United States shows signs of moving from recession to recovery … (F) less than 1 in 3 Americans believe that the economy will improve in the next six months … “Will such a stark outlook lead consumers to tighten their belts and dispense with lavish gifts and tech upgrades, or will they just become more selective about their purchases?
Sites like The Black Friday and BFreedom predict that Black Friday will continue its appeal and attract shoppers over the holiday weekend or browsing online sales from the comfort of their homes.
With Bloomberg’s so-called bleak outlook, retailers can expect the public to tighten their wallets and reward the stores that offer the best sales with the fewest limitations on products. The lack of disposable income will further drive expectations for higher savings and bonus features rather than the mob mentality of years past.
Many people plan to increase sales for their biggest holiday gifts, but some are also looking forward to Black Friday for their home theater upgrade and appliance renovation purchases. A year of tight purchasing and responsible budgeting can lead people to seek higher quality and lasting technological relevance rather than fancy new features. There could be a greater share in items like furniture and computers than in areas like fashion and toys.
Retailers are very likely to continue the trend of offering more deals during the month and especially the week before Black Friday and Cyber Monday to draw in the crowds. Luigi Lugmayr has analyzed the 2009 holiday shopping season and expanded on those trends in predictions for the upcoming 2010 event. I think he may be on to something, especially with all the upcoming new video games and innovative options in eReaders slated for release to Late 2010. With so many more options available in eReader technology, hardware and content and the exciting buzz surrounding the developments. In the realm of games like Project Natal and Rock Band 3, this holiday shopping season is very promising.
With several months for the true Black Friday frenzy to subside and plenty of time for retailers to start courting the wallets of the American public, anything can happen.