Leave your feedback Share Copy URL https://www.pbs.org/newshour/show/retailers-look-to-holiday-season-for-needed-sales-boost Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Transcript Amid the shopping frenzy of "Black Friday" -- the traditional after-Thanksgiving kick off to the holiday shopping season -- retailers are looking to holiday sales to boost their sagging balance books. Jeffrey Brown talks to analysts about how the retail industry is faring. Read the Full Transcript Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors. JUDY WOODRUFF: And to the troubles facing the retail industry in this country on this Black Friday, the official start of the holiday shopping season. Jeffrey Brown has the story. EMPLOYEE: You guys had a good Thanksgiving? SHOPPER: Yes, absolutely. JEFFREY BROWN: The prices were lower, lines were shorter, and initial reports were of customers spending less, all signs of a disappointing start to the holiday shopping season, amid a spreading financial and economic crisis. SHOPPER: People are getting scared because of the economy. People are getting scared with the amount of money they're allowed to spend on themselves and on others around them. JAKE CIRKSENA: I'm used to lines being a little bit longer, things being a little bit more hectic. JEFFREY BROWN: June to September saw the biggest quarterly drop in consumer spending in 25 years. And the trend continued in October.So this year's holiday season, when retailers traditionally earn as much as 40 percent of annual sales may be more important than ever.Customers who were shopping at a Target in Alexandria, Va., just outside of Washington, D.C., told us they worked extra hours to foot the bill.A few miles away, Tyson's Corner Center mall opened at 6 a.m., two hours earlier than last year, but… JACQUELINE SMITH: There's nobody here compared to last year, and you can look at it. It's a lot of lookers. And there's just a level of uncertainty. JEFFREY BROWN: Already several chains, including Tweeter and Linens 'n Things, have announced they're going out of business. Circuit City has filed for bankruptcy.Still, some large discount stores, like Wal-Mart and Costco, have continued to do well.And if there's good news for consumers, it's the huge bargains available; many retailers, in fact, began slashing prices weeks early this year. And that had some brave souls lined up early in the cold. SHOPPER: It's freezing out here. And my whole family is mad because I'm not at Thanksgiving dinner tonight, but got to do what you got to do to save a dollar. JEFFREY BROWN: Among the big sellers this year: flat-screen TVs and iPods.