The holiday shopping season is underway and the National Retail Federation expects holiday retail sales to increase four-percent over 2018. LSU Marketing Professor Dan Rice says Louisiana retailers can expect a similar increase in sales.
“What’s really driving a lot of this, is the high consumer confidence and the really low unemployment numbers,” said Rice.
Rice says most retailers are advertising big Black Friday deals today, but he says stores started discounting prices several weeks ago and many Black Friday sales will extend through the weekend.
“So they are trying to capitalize on the desire a lot of people to spend and maybe not pigeonhole them into that one day of spending,” said Rice.
Rice says Black Friday remains a profitable day for brick and mortar stores. But he says Cyber Monday sales outpaced last Black Friday sales last year and there’s no sign of that trend slowing down.
“I’d expect Cyber Monday sales would again beat out Black Friday and probably increase that gap by a little bit over what we saw last year,” Rice said.
According to a recent CNET.com article, Cyber Monday sales hit 7.9 billion dollars, while Black Friday sales were at 6.2 billion dollars.