Black Friday Expected to Surpass 2011 in Sales

With the economy's continued sluggishness, 2012's Black Friday is as important as ever to retailers.

Black Friday deals will begin earlier than ever this year, with some stores opening on Thanksgiving Day as early as 8 p.m. Major retailers such as Target, Best Buy, and Wal-Mart will even open midnight on the eve of Thanksgiving and then re-open Thanksgiving night. With consumer spending making up two-thirds of the economy, the concern over the greatly discussed "Fiscal Cliff" could have an impact on Black Friday sales. As the Examiner notes, many retailers spend the year taking losses, with the Black Friday event pushing them into profitability. But a Pew poll shows 51% of Americans do not feel the Fiscal Cliff will be avoided by the first of the New Year.

Despite this, projections indicate that Black Friday crowds will be larger this year, with an estimated 152 million people shopping over the weekend according to a report by the National Retail Federation (NRF). The NRF projected that 138 million shoppers would show up in 2011, while in actuality, 212 million took part in the shopping weekend (CNN Money). With underestimations common for the NRF, and 2012's projection higher than that of 2011, retailers have reason for optimism in surpassing last year's sales. This, combined with the earlier opening of stores, should result in a big boost for retailers.

After the weekend comes to a close, retailers will shift their attention to Cyber Monday, which is expected to see sales reach $2 billion - a rise of 18% from 2011. The projection comes from Adobe Systems' Digital Index 2012 Online Shopping Forecast. Adobe also predicts that Black Friday will be the second-biggest online retail day of the year, as well as the biggest mobile shopping day of the year.