Market Overview

Black Friday Is Replaced With Weeklong Sales

Share:
Black Friday Is Replaced With Weeklong Sales

The COVID-19 pandemic prompted retail giants to forego the traditional Black Friday sales promotion with a week-long event.

A Different Event: Shoppers who consider themselves a "purist" could be disappointed this year as retailers need to rethink their strategy to contain the spread of COVID-19. Some retailers aren't using traditional marketing jargon like "doorbusters" to advertise their sales, according to CNBC.

This doesn't mean consumers can't score good deals. In fact, sales reserved for Black Friday have been underway for a few weeks.

Digital First: Amazon.com, Inc. (NASDAQ: AMZN) earns the unofficial title of being the first to launch Black Friday sales with its Prime Day event in mid-October.

Walmart Inc (NYSE: WMT) divided its Black Friday sales into three different events that started on Nov. 4. The company is doing its best to encourage shoppers to buy from their couches by not selling some of the hottest items in store.

Consumers looking for the new PlayStation 5 or XBox Series X (each at $499) can only be bought online. The same holds true for certain Apple Inc. (NASDAQ: AAPL) products like the Watch Series 3 or AirPods.

Related Link: PlayStation 5 Consoles Topping $800 At Reseller Site

Similarly, Best Buy Co Inc (NYSE: BBY) is selling its video game consoles online and its Black Friday sales event is already live.

"If you see a good deal, it's not something that you want to sit back and wait on," DealNews.com consumer analyst Julie Ramhold told CNBC. "But the fact that they are lasting longer, if it's something that's not in super high demand, you might be able to get it three days after the sales start and you don't have that same pushy sense of panic of ‘I've got to go get this right now.'"

In-Store Layouts: Home Depot Inc (NYSE: HD) is emphasizing in-store deals and has taken the necessary steps to minimize risks. The company is stocking up on fewer big-ticket items to eliminate concerns of shoppers missing on deals.

Home Depot is also spreading out its Black Friday deals for two full months.

Target Corporation (NYSE: TGT) is doubling the number of parking spots reserved for curbside pickup. This could help reduce time spent in store as consumers may feel the need to run in quickly for one or two items.

 

Related Articles (AAPL + AMZN)

View Comments and Join the Discussion!

Posted-In: Black Friday Coronavirus retail retailersNews Retail Sales Events Media Best of Benzinga