New Thanksgiving Retail Tradition. Stores Closed For Good!

by Wall Street Rebel | Michael London | 11/23/2021 10:43 AM
New Thanksgiving Retail Tradition. Stores Closed For Good!

What began as a temporary measure in response to the epidemic has evolved into a new norm.

 

Target will no longer be open on Thanksgiving Day, the company said. They are suspending the unofficial beginning of the holiday season indefinitely.

Retailers were obliged to adapt what had been a weekend shopping frenzy into a protracted event last year to keep crowds at bay. Big Christmas discounts were offered as early as October to keep customers from becoming overwhelmed.

It looks as if the forced move was a stroke of luck.

According to the National Retail Federation, the nation's biggest retail trade association, holiday sales in the United States increased by 8.2 percent in 2020 compared to the previous year in 2011.

According to the trade association, the economy will increase between 8.5 percent and 10.5 percent in 2021, shattering the previous record.

People in the United States, who will take advantage of the same deals over a more extended period and relieve some of the stress that comes with the holidays, seemed to welcome the shift, which has also resonated with Target employees.

As Target CEO Brian Cornell said in an internal memo to staff, "What began as a temporary measure motivated by the pandemic has evolved into a new norm that honors our capacity to fulfill our clients' Christmas desires both inside and far beyond store hours."

Fortunately, you won't have to worry about if this is the last Thanksgiving you'll spend with family and friends for a while since Thanksgiving shop hours are one thing we won't 'get back to' after the epidemic has subsided.

When it comes to making a permanent step during the epidemic, Target is the first big store to do so. According to Ken Perkins, its decision might encourage other shops to follow suit, president of retail research company Retail Metrics.

He says merchants are also considering whether it is worthwhile to invest money on personnel and other expenditures to operate on Thanksgiving Day at a time when buyers are increasingly moving to the internet and away from traditional brick-and-mortar locations.

"Does it really make sense to open on Thanksgiving Day, with all of the internet purchasing options?"

For this year's Thanksgiving, Macy's will only provide curbside pickup at a few chosen locations since it will not reopen its shops for the holiday season in 2018.

On Thanksgiving Day, Kohl's and Walmart will be closed as well, but Walmart says it hasn't decided on the future of Thanksgiving Day retail shopping; Kohl's refused to comment on the matter.

Thanksgiving will be a working day for Target distribution and call centers, and employees will be paid for their time off.

Twenty years ago, shops began opening their doors for business in the small hours of the morning on Black Friday, thereby extending the Christmas shopping season into Thanksgiving.

Target and other big retailers opened their doors on Thanksgiving Day ten years later, establishing a new shopping tradition.

Many decided to do so to compete with Amazon and other online competitors.

According to Julie Ramhold, a consumer researcher with DealNews.com, roughly 25 chain shops welcomed customers inside their physical locations on Thanksgiving Day at its height five years ago.

However, the shift appeared to merely cannibalize Black Friday sales, with large crowds descending on stores on Thanksgiving Day to take advantage of doorbuster deals.

In addition, retailers started advertising Black Friday specials during the whole holiday week and, ultimately, for the entire month of November, significantly diluting the impact of the shopping occasion.

According to opponents of major shops, thousands of individuals were pushed to labor rather than spend time with their families over the Christmas season.

Similarly, in recent years, the number of people attending Thanksgiving Day events has decreased. A number of retail chains and shopping malls, notably the Mall of America in Minnesota, have discontinued the tradition altogether.

The number of retailers operating on the holiday was reduced to well under 20 big brands, excluding pharmacies and grocers, which remained open for at least a few hours despite the holiday closures.

Some businesses, such as Costco and Nordstrom, did not open their doors throughout the holiday, claiming they wished to honor the occasion.

Thanksgiving has never been a particularly strong sales day; it has never even cracked the top ten because retailers typically open their doors at 5 p.m. on Thanksgiving Day.

On the other hand, it's been a hectic day for internet shopping!

According to the Adobe Digital Economy Index, the holiday has lagged behind Cyber Monday and Black Friday in terms of online sales over the previous two years.

 

                     Target makes Thanksgiving Day closings permanent

 

 

 

The Birth of a New $10-Trillion Sector... [Learn More Here]

 

 

 

 

[Strategic Investment: The Post WWII World Order is About to Collapse]

 

Latest News

Stay Up to Date With The Latest
News & Updates

Join Our Newsletter



GET THE NEWSLETTER

Rebel Yell Morning Market Report
Market Alerts
Offers from us
Offers from our trusted partners

Follow Us

Connect with us on social media

Facebook Twitter