Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Guy Buys $123 Safe on eBay, Finds $26,000 Inside Seller tries to get half the cash back, fails »

Black Friday as Bargain Hunt

Thrifty shoppers crowd malls nationwide

By Rob Quinn,  Newser Staff

Posted Nov 24, 2007 7:17 AM CST

(Newser) – On the traditional first day of the Christmas season, shoppers swarmed stores, as always, but the mood was less festive than anxious, reports the New York Times, as consumers flocked to discount chains, and hunted down bargains. Beset by worries about gas prices, adjustable-rate mortgages, and a skittish stock market, many bypassed more expensive retailers. Analysts are already calling this the "trade-down" holiday shopping season.

Early estimates show traffic on a par with last year, the Wall Street Journal reports, and sales up, but the deep discounts will hit profits hard. With the prognosis for holiday sales the worst in five years, retailers responded with aggressive price cuts, and highlighted cheaper merchandise. Even the FAO Schwarz flagship in New York put away extremely high-end toys that weren't selling well, the CEO said, and sales were up.

Shoppers walk the concourse on Black Friday at the Walden Galleria in Cheektowaga, N.Y. on Friday, Nov. 23, 2007.  (AP Photo/Don Heupel)
Shoppers walk the concourse on Black Friday at the Walden Galleria in Cheektowaga, N.Y. on Friday, Nov. 23, 2007. (AP Photo/Don Heupel)   (Associated Press)
Devoted Mac fans wait on line outside before their Black Friday shopping at the Fifth Avenue Apple store at midnight on Friday morning, Nov. 23, 2007 in New York. (AP Photo/Jin Lee)
Devoted Mac fans wait on line outside before their Black Friday shopping at the Fifth Avenue Apple store at midnight on Friday morning, Nov. 23, 2007 in New York. (AP Photo/Jin Lee)   (Associated Press)
Shoppers crowd the aisles of Best Buy in search of post-Thanksgiving bargains Friday, Nov. 23, 2007, at the Las Cruces, N.M. electronics store. They were there on Black Friday, which marks the start of the holiday shopping season. (AP Photo/Las Cruces Sun-News, Norm Dettlaff)
Shoppers crowd the aisles of Best Buy in search of post-Thanksgiving bargains Friday, Nov. 23, 2007, at the Las Cruces, N.M. electronics store. They were there on Black Friday, which marks the start of...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Storms Threaten to Wipe Out Retailers' Last Hopes

Man Robs Store on 'Shop With a Cop' Night

Slashed Prices Signal Retailer Worries

Shopper Cuts Line, Says She'll Shoot Grumblers

Who's Spending the Most Today?


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne