NJ Spotlight News
This year, Black Friday comes with unique challenges
Clip: 11/29/2024 | 5m 43sVideo has Closed Captions
Interview: Eileen Kean, from the National Federation of Independent Businesses
Eileen Kean, New Jersey state director for the National Federation of Independent Businesses, explains what the business outlook for this holiday season looks like.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
This year, Black Friday comes with unique challenges
Clip: 11/29/2024 | 5m 43sVideo has Closed Captions
Eileen Kean, New Jersey state director for the National Federation of Independent Businesses, explains what the business outlook for this holiday season looks like.
Problems playing video? | Closed Captioning Feedback
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Learn Moreabout PBS online sponsorshipBlack Friday traditionally is the day shoppers wait to find the best deals, and retailers hope to hit record sales with big bargains at the American Dream Mall.
Folks were out early looking to score serious savings on gifts or maybe a little something for themselves.
But the traditional Black Friday experience has been undermined by weeks of so-called pre Black Friday deals leading up to the big day.
And while big sales could stimulate overspending, this holiday shopping season comes with some unique challenges, including inflation, looming tariffs and Thanksgiving falling later this year, meaning fewer days to shop for consumers and sell for retailers.
So how will this impact consumer confidence and spending?
To discuss more on what the business outlook for this holiday season looks like, I'm joined by Eileen Kean, New Jersey state director for the National Federation of Independent Businesses.
Eileen, thanks for joining me.
Well, thank you for having me.
So nice to see you.
So we have officially kicked off the busiest shopping period of the year.
We know this year is unique because there are far fewer shopping days between Thanksgiving and Christmas.
How will this impact this year's holiday shopping?
I think it adds to not only the stress for shoppers and consumers, but it adds to the stress for small business owners.
They they really.
And right now, small businesses are facing such serious competition from online shopping.
I was out and about a bit this morning and the crowds at the local main street stores, it just didn't seem as great as it has been in other years.
So so we worry.
We worry about the competition of online shopping.
You know, that's a great point because sticking on the topic of competition, we've seen pre Black Friday deals at least a week before today, in some cases weeks ahead of time.
And these sales can really impact when we think about how shoppers are energized or not.
Kind of takes away that lackluster from that traditional Black Friday kind of deal.
So what does that look like for both consumers and retailers as we head into this shopping season?
As you stated with the five that we're short, five days this year, remember last year there were 530 days in November.
It it just it adds to the stress that really I'm just going to think about small business owners.
It does really add to their stress because they have just this short window of time to make to make their sales.
And and remember, often December sales are really what carry a small business through the year.
I think there's been some good news on the horizon.
I love that.
Last week, Governor Murphy signed into law the permanent outdoor dining and that's that's a real boost to Main Street.
Not only does it help restaurants and other eating establishments, but it adds to the ambiance and the beauty of Main Street and it's an attraction.
So it's a it's a reminder to go to that local boutique, to go to the local florist shop.
Find those small stores and support the small guys.
Yeah, absolutely.
There is something different about going in person and seeing it, right.
So when we think about shopping, whether you're a small business or you are a big department store, inflation is playing a role in this year's shopping season.
Are retailers adjusting their prices or sales so shoppers can spend more?
What are some of the trends you're noticing?
When we think about inflation.
When we think about inflation for the small business owner, it's also covering their operational expenses that are rising and there's looming fears on the horizon.
What would be the effect of tariffs down going into 2025?
Oh, so it's a matter for small business owners.
It's a matter of working 15 hour days.
It's being in your store, managing your own store.
And yes, you have to come up with those giveaways.
And I call them giveaways because there's not necessarily a profit involved, but it's what gets which get it's what gets the shopper into the store to hopefully make additional purchases.
Well, Eileen, you spoke about that competition with the big box stores and small businesses.
So what are small businesses doing to kind of set themselves apart from the group and attract customers?
There locally?
They participate in Main Street Chamber of Commerce activities, plans, events today, Friday, tomorrow, Saturday.
Tree lightings are a really big deal because they're festive, they're fun, they get people out, but they're also a reminder that shop here don't just sit at your on your couch at home and shop.
You can be out and about really touching the merchandise and appreciate it and getting in the spirit and the beauty of the season.
Eileen Kean, thank you for joining me.
Thank you.
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