Shoppers Flock to Stores for Black Friday Deals
CHATTANOOGA, Tenn. (WDEF)- Today was Black Friday, the busiest in store shopping day of the year.
However with inflation, many are questioning just how much consumers are willing to spend this holiday shopping season.
Shoppers came out to stores such as Academy Sports and Outdoors at Hamilton Place, trying to save as much as they can as the world continues to deal with record high inflation.
Friends Reece Nixon and Zeke Patterson were two of the many shoppers who came to Academy Friday morning looking for a bargain. Nixon said that he woke up early to go shopping because, “Honestly just the great deals. Everything’s like 20, 30, 40, 50 percent off. Like with inflation going crazy, we have to get good deals somewhere. This is a great opportunity for us to get out. ”
Patterson seconded his friend by saying, “Yeah I’ll go with what he said, the prices are what got me to come out here to be honest.”
Another shopper, Jeremiah, echoed similar sentiments by sharing, “I like the prices and stuff, they’re very low.”
Stores are doing anything they can to get shoppers in the door with big sales amid the inflation. Management at these stores are having to get creative to retain business during this period of economic uncertainty.
Jason Schultz, the Store Manager of Logistics at the Hamilton Place Academy Sports and Outdoors, shared with me that Academy’s strategy is, “We have a low price guarantee, so that if there is a competitor that has a lower price point than what we have, we’ll match it. Then we’ll give them an additional five percent off. We have the Academy card, which is good for five percent every time you shop, it comes off that price. But again, like I said earlier, it’s all about having that product in front of the customer and it seems to be paying off.”
The National Retail Federation, the world’s largest retail association, expects holiday shopping growth to slow to 6% to 8%, down from 13.8% a year ago, and that number could be further affected by inflation.
Small Business Saturday and Cyber Monday is this weekend as well, with the National Retail Federation expecting over 166 million people to do some sort of holiday shopping, whether in person or online.
Academy told me it is a key to their business, balancing their brick and mortar sales with their online component.