Black Friday Is Losing Its Clout. And That’s More Bad News For Department Stores

by MR Magazine Staff

Retailers have been touting bargains for weeks. With more shopping moving online, it has only become easier to compare prices, and so the lure of doorbuster deals is losing its grip on shoppers. That only means more bad news for a group of retailers that has long been dependent on the shopping holiday to push them “into the black,” or toward profitability: America’s department stores. “Historically, [department stores] were the ones around that had the biggest voices in the ’70s and ’80s,” said Sucharita Kodali, retail analyst at Forrester Research, in an interview. “That was when a lot of these sales became more popular.” Read more at CNBC.