Friday, November 28, 2008
This is the day that retailers wait for all year. However, it is hard to believe Black Friday will be much of an event. Consumers' views of the economy have been battered without pause. There isn't a bright spot anywhere. Unemployment is soaring. Stocks are sitting nearly 6000 points below their peak. Government is pledging trillions for bail-outs and hundreds of billions to get the economy started again. With such bad publicity, why would consumers suddenly open their wallets? This period is shaping up to be a case study of the power of perception.