Black Friday: Most Important Day of the Year for the US Economy
THE DAILY TELEGRAPH: Black Friday is being billed more than ever as the most important day of the year for the US economy, a carnival of consumerism in which Americans are expected to shop their way out of the country's financial woe.

Some 152 million people – almost half the population – are due to pass through checkouts carrying heavily discounted products, spending upwards of $50 billion (£31 billion), according a survey by the National Retail Federation (NRF).

Black Friday, the day after Thanksgiving, traditionally marked the moment retailers moved into profit, or "the black". Latterly it has been when consumers queued for hours in the cold to dash around shops, fighting over the latest half-price LCD widescreen televisions.

But amid the highest poverty rate for 28 years, sluggish economic growth and a headline unemployment rate of nine per cent that still grossly under-represents the painful extent of joblessness around the country, some Americans say they have had enough.

A backlash has struck leading retailers such as Best Buy, Macy's and Target which, in a parallel annual ritual, decided that they could not wait and must open their doors at 10pm on Thursday night. Toys R Us is going one better, welcoming customers at 9pm.

"Many holiday shoppers would rather stay up all night to take advantage of retailers' Black Friday deals than set their alarm to wake up the next morning," said the NRF president, Matthew Shay, in a statement critics dismissed as mindless. » | Jon Swaine, Washington | Thursday, November 24, 2011

Related »

THE GUARDIAN: What is Black Friday? : The discount shopping day follows Thanksgiving and is expected to lure millions of US shoppers ¶ Black Friday is the traditional start to the Christmas shopping season in the US. It falls the day after the country's Thanksgiving celebration and has become a discount shopping day when millions of US shoppers are lured by massive savings. This year it falls on Friday 25 November and some stores in the US are even opening at 4am to tempt bargain hunters. » | Mark King | Friday, November 25, 2011

Christmas Sales Frenzy Starts Early
THE DAILY TELEGRAPH: High street shops have started slashing prices early in a bid to entice shoppers to spend money after a renewed slump in consumer confidence.

An unseasonably warm November has also left many stockrooms stuffed with unsold winter clothes with just a month to go until Christmas.

Retailers such as Debenhams, New Look and Currys are among the chains cutting prices heavily this weekend as they try to drum up business in the run-up to Christmas.

Debenhams, for example, has reduced the price of all hats, coats, scarves and gloves by 30 per cent. It is also selling many of its cosmetic ranges at “duty free prices”, with discounts of up to 15 per cent.

It is unusual for so many retailers to be offering money-off discounts before December has even started. High street experts say that there is far more discounting than there was last year.

Matthew McEachran, a retail analyst at Singer Capital Markets, the stockbroker, said: “There is absolutely no doubt that the money-off promotions are coming thicker and deeper than last year.” Read on and comment » | James Hall, Consumer Affairs Editor | Thursday, November 24, 2011

Shops 'May Have Weak Christmas'
BBC: UK retailers could be set to experience a very limited rise in Christmas sales compared with last year, the British Retail Consortium has warned.

The trade body estimates that like-for-like sales, which exclude new store openings, could increase less than 3% this festive season from 2006.

Its warning came after it said the sector had experienced a tough 2007.

A separate Lloyds TSB study said consumer confidence had been hit by higher prices and mortgage payments. >>

Mark Alexander