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December 1, 2008 08:01:11
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High hopes on Black Friday
Friday, November 28, 2008
By MOLLY GRIFFIN
JOURNAL STAFF WRITER
Thanksgiving is over and Black Friday is here.
Frenzied shoppers have already stormed malls and retail stores across the state, fueled by turkey and eager to take advantage of early-bird hours and holiday sales.
Kmart shoppers even got the jump on this morning's shoppers. Kmart had store hours from 7 a.m. to 9 p.m. yesterday, for those who couldn't wait. Other retailers, like JC Penney and Kohl's opened their doors at 4 this morning, while Toys R Us, Circuit City, Sears and Macy's opened at 5.
Despite the economic downturn, the National Retail Federation expects 128 million people to shop between today and Sunday, and hopes that Black Friday discounts will entice those who have been pinching their pennies all summer to splurge.
"This could be the most heavily promotional Black Friday in history," Tracy Mullion, National Retail Federation president and CEO, said in a statement. "Shoppers who held off buying a DVD player or winter coat over the last few months will find that prices may literally be too good to pass up."
That's exactly what Magic Sneaker Sportswear and Footwear on Kennedy Boulevard in Jersey City is hoping for, offering Black Friday sales up to 50 and 60 percent off.
Floor manager Danny Mosquera says the recession has "absolutely" affected sales, estimating that business is down 30 percent from last year. He said the store would open early today in the hopes that a Black Friday bump will help make up some of the difference.
"Last year (on) this day, this store was packed," he said Wednesday, gesturing to only a handful of customers perusing the wall of sneakers. "This is going to be the first year that we open around 6 (a.m.), to make up for the money we haven't made."
Local malls are trying the extended-hours approach as well: The Newport Mall will open its doors at 5 a.m. and the Hudson Mall on Route 440 will follow at 6 a.m.
Competitive pricing may make this Black Friday more affordable for the average shopper - however, abandoning budgets can land consumers back in the claws of credit debt. Sandra Shore, a senior counselor at Novadebt, a nonprofit credit counseling organization based in Freehold, has a simple reminder for shoppers:
"Don't spend what you don't have," she said. "It sounds simple, but honestly a lot of people are feeling that (they) have to do this."
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