Credit: Shutterstock photoAs the holiday season approaches, Costco Wholesale CorporationCOST revealed that it will start its Black Friday sales from Nov 20 which will run up to Nov 26, before shuttering for Thanksgiving Day. This retail giant, which will be operating on normal store hours, will likely attract a large crowd with its lucrative offers. However, customers who won't be able to leave their homes need not be disappointed as the company will offer similar deals online.
Black Friday is observed on the Friday following Thanksgiving Day in the U.S. We note that, starting in early 2000, both urban and suburban dwellers have regarded this day as the beginning of their holiday shopping season. Many major retailers unusually open early this time of the year and offer the earliest shoppers the biggest promotions. Since 2005, Black Friday has become the busiest shopping day of the entire year.
Coming back to Costco, this Zacks Rank #3 (Hold) company intends to draw shoppers who are on the lookout for attractive deals. The move is a strategic attempt by the general merchandise retailer to adopt a more competitive stance against its brick-and-mortar and online rivals.
Notably, Costco has not disclosed the actual amount for most of its biggest sales but revealed just the amount of discounts it is offering on different items. As per sources, Black Friday offers include Surface Pro 3 Type Cover and Surface Pen bundle ($250 off), GoPro Hero3+ with extra battery and dual battery charger ($50 off), 55-inch Samsung 4K TV ($500 off), HP Envy x360 Windows 10 laptop ($180 off), Microsoft Surface 3 128GB Type Cover and Surface Pen bundle ($100 off, online only) and Vizio 5.1 Bluetooth Sound Bar with wireless subwoofer and satellite speakers ($80 off), to name just a few.
Further, Costco said that it will open early on Black Friday and offer steep discounts on a number of electronic items.
Other retailers that count upon similar game plan include Target Corp. TGT , J. C. Penney Company, Inc. JCP and Kohl's Corp. KSS . Retailers need to be 'hawk-eyed' this holiday season to make the most of it. They need to capitalize on every opportunity that arises, and try to attract cautious, budget-constrained consumers to stores as the season may be a tough one.
We believe that retailers will leave no stone unturned to tap this holiday season. Be it early-hour store openings, promotional events, free shipping on online purchases or heavy discounts, retailers will try every trick to boost sales as the holiday season accounts for a sizeable chunk of yearly revenues.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
