(Crain’s) — From specialty boutiques in Chicago’s neighborhoods to the mega-malls of the city’s suburbs, shoppers on Friday morning showed up early and spent, giving retailers a reason to believe in a bright holiday season.
As expected, electronics were selling well with digital cameras and mp3 players in high demand, but even apparel seemed to be selling well.
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Black Friday, which gained the moniker for once signifying the day when retailers saw their finances move from being in the red to being in the black, has not been the biggest shopping day of the year for at least a decade. Procrastinators de-throned the day after Thanksgiving and crowned the Saturday before Christmas as the heaviest shopping day of the year.
Still, Black Friday continues to mark the traditional kick-off to the holiday season and the period in which retailers reap a significant portion of annual sales and profits. About one-third of 2005 profits for the retail industry came during the last three months of the year, according to the International Council of Shopping Centers.
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Still, Friday’s turnout had retailers optimistic that the holiday sales will be something to cheer about.
“If the number of shopping bags I see today is going to be any indication (of the holiday season), it is going to be great,” said Veda Holloway, spokeswoman for Ford City Mall on Chicago’s South side. “They’re here, they’re shopping and they’ve got bags.”