Attention “Black Friday” shopping fanatics (and you all know who you are). This year all early bird Christmas shoppers just may have to bring along their turkey dinner in a doggie bag because Walmart this year will be opening its doors at 8 p.m. local time – on Thanksgiving.
“Black Friday,” is officially arriving earlier than ever this season as Wal-mart Stores Inc, (WMT) the world’s largest retailer), is loading up on electronic gadgets, according to Reuters, in a big bet that shoppers are eager and ready to spend.
Duncan Mac Naughton, chief merchandising and marketing officer, Walmart U.S said to RTTNew.com, "We know it's frustrating for customers to shop on Black Friday and not get the items they want. This year, for the first time ever, customers that shop during Walmart's one-hour event will be guaranteed to have three of the most popular items under their tree at a great low price."
Bringing in troves of holiday shoppers in early, on top of tempting them with more specials, is an aggressive attempt by the retail powerhouse to generate more sales. Based on calculations by the National Retail Federation and published by Reuters, holiday spending is projected to rise 4.1 percent which is down from a 5.6 growth in 2011.
According to chief equities analyst Brian Sozzi of Nothing But Gold Productions (NBG), he believes the plan makes complete sense economically.
"You're getting people into the store to buy your products earlier,” said Sozzi to Reuters. “If I look at what Walmart's doing here, they have led."