It’s over between Wal-Mart (WMT) and Black Friday.
The world’s largest retailer now saying the traditional day-after-Thanksgiving kickoff of the holiday shopping season is just too crazy for shoppers. So Wal-Mart is making it a five-day event. The company will be offering the usual “door buster” sales from Thanksgiving through December 1st.
But Yahoo Finance Editor in Chief Aaron Task says while this breakup might sound like something out of a Taylor Swift song, it’s really been in the works for a while.
“Back in October, we were talking about how Wal-Mart said Halloween is the new Thanksgiving, that the holiday shopping season begins November 1st and it was offering deals,” he points out. “So it’s pulling Black Friday back AND pushing it forward.”
Task laughingly points to the observation attributed to the company’s chief merchant.
“It used to be called Black Friday, then it became Thursday, now it’s a week long,” Task quotes Duncan MacNaughton as saying. “Maybe we should just call it November.”
Wal-Mart says its new promotion comes as Black Friday morphs from shoppers waking up at the crack of dawn to a weekend, family event. Task says there’s definitely a method to this madness.
“Wal-Mart has been struggling for years with flat or sluggish sales in the United States, so has Target (TGT),” he points out. “So it’s not surprising they doing everything they can to make it easy for you to shop.”
And Task believes all these efforts to entice shoppers will benefit those who are looking for bargains.
“It’s a little bit of desperation for these big retailers,” he says. “And if you are a savvy, smart consumer you can get a good deal."
Wal-Mart's comments about the holiday season will be in focus when the company releases its third-quarter earnings report tomorrow.