Can retailers win by opting out of Black Friday?
Don't expect outdoorsy types to camp outside REI stores after finishing their pumpkin pie.
The sporty retailer recently squashed the idea of opening its doors on Thanksgiving or Black Friday, and that's a trend certain select brands can profit by, experts think.
"There's a small but visible backlash against Black Friday creep this year," said Harper College marketing instructor Rob Russ. "Part of it is consumer fatigue, but I also credit some retailers for recognizing the madness. Dozens of major retailers have decided not to open on Black Friday."
Black Friday should remind everyone that "life is richer, more connected and complete when you choose to spend it outside," REI President Jerry Stritzke stated.
REI can get away with it, because "it's a lifestyle brand," said Donnavieve Smith, an associate professor of marketing at North Central College in Naperville. "Their customers are fine with paying more for their products. They're not as reliant as Wal-Mart on deep discounts," Smith said.
According to the National Retail Federation, 55 percent of holiday shoppers made purchases during the 2014 Thanksgiving weekend, Smith said.
Meanwhile in 2014, 42 percent of holiday shoppers' budgets were spent online, an NRF survey also concluded. That helps those stores that decide not to open on Thanksgiving Day or the day after.
"It's not a matter of forfeiting sales," Smith said. "They recognize the way Americans shopper is changing. What's the sense in having employees in stores working on Thanksgiving when the store isn't packed the whole time?"
Along with REI, brands including GameStop, DSW and Costco have rejected opening on Thanksgiving.
"Whether retailers bucking the trend this year give up revenue or not, some will reap rewards through public relations. There's a growing sentiment toward corporate social responsibility, especially with younger consumers," Russ said.
"We're moving toward a reputation economy. Employee welfare feeds into this narrative,".
Smith adds that the move is a "win-win."
"By opting out of Black Friday, it improves morale for employees," she said.
Russ added, "Ultimately, the consumers will decide whether they shop for doorbuster specials or venture outdoors on Black Friday. REI hopes people will hike and climb and canoe - with their products, of course."