Wednesday, December 26, 2012

What do the Economic pie and retail opening on Thanksgiving have in common?

The "economic pie" does not get bigger by shifting the slices around the plate.  Retail sales are not the source of economic growth, but a by-product of it. This does not surprise me at all.

The New Black Friday Strategy Backfired On America's Retailers
"Early store openings for Black Friday only shifted the holiday consumption pool, which was the opposite of the intended effect," he wrote. 

"Retailers wanted early buying to lead to splurge buys towards the end of the season (emphasis mine). The thought they hoped to trigger: 'man, did I REALLY get everyone enough?'”

Do the people who run these large stores actually read the business section of the paper?
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