Chief marketing officers at leading U.S. retailers expect purchases on November 25, Black Friday, to grow 1.6 percent, according to a survey conducted by BDO USA. A year ago CMOs were more positive, with marketing specialists expecting a rise of 3.8 percent on average. In 2010, sales during the weekend after the Thanksgiving grew 6.4 percent, according to a report by the National Retail Federation.
Marketing analysts forecast that Walmart and Amazon would do well as usual, offering the cheapest prices on numerous popular items, while other retailers are still able to beat their prices during the holiday shopping season that starts after the Thanksgiving. Online retail sales are booming, with some analysts expecting them to hit $50 billion in the fourth quarter of the year.
An overwhelming majority of 78 percent of those polled by BDO expect promotions to be on the rise, compared to 64 percent of CMOs forecasting a gain in promotions in 2010. The survey covers retailers of all sizes, including the largest 12 retail chains in terms of annual revenue, thus consumers should expect a good number of items sold at promotional prices.