Hours before the clock struck midnight this Black Friday, millions of holiday shoppers lined up outside of stores across the country, eager to get their hands on hot holiday merchandise. Retail executives and NRF spokespeople were also up bright and early, sharing their insights into what Black Friday 2010 will bring and what it all means.
NRF Chairman, Terry Lundgren, President, CEO and Chairman of Macy’s, Inc. was on CNBC’s Squawk Box bright and early today, discussing holiday inventory levels, expectations this holiday season and even who he says were among some of the early bird shoppers at Herald Square today (hint: it wasn’t women!) . Lundgren also talked about the 65,000 holiday hires Macy’s has made in the last 60 days and the positive signs for future hiring as we head into 2011.
NRF vice president Scott Krugman joined Harry Smith on the CBS Early Show to talk about the huge Black Friday promotions consumers can find on electronics, jewelry and apparel. During the interview, Krugman discussed how retailers are striving for the right balance with their holiday inventory, also advising shoppers to buy it when they see it, “because, once it’s gone, it’s gone.” Krugman also outlined how gift cards will be hot gift items again this year after losing out to discounted apparel and appliances in recent years.
And Ellen Davis, NRF vice president, joined Michelle Caruso-Cabrera on CNBC’s Closing Bell for a chat about NRF’s holiday forecast, consumer sentiment right now and how holiday sales have changed since 2007, when consumers were quite different from what they are today. Davis says that news of Black Friday crowds is certainly a “breath of fresh air” but the industry still has a ways to go before we see the same type of spending we did pre-recession.