Faced with smaller crowds of less confident shoppers as well as six fewer days between Thanksgiving and Christmas than last year, retailers are pouring on margin-eating discounts.
“Retailers are selling at a point of desperation,” said Robin Lewis, a retail consultant based in New York. “They are going to be gouging each other’s eyes out. There’s more discounting going on than Heinz has pickles.”
As many as 140 million people planned to shop in stores and online yesterday through Sunday, the National Retail Federation said, down from 147 million last year. Black Friday will be the biggest day of the weekend, with about 97 million shoppers, the group said.