Black Friday discounts predicted to reach 70%
If you had a budget in mind for holiday shopping, you may be able to lower it.
As Black Friday draws nearer, analysts are releasing pages and pages of sales forecasts to help shoppers and businesses know what to expect. And according to one by Editd, an analytics company that services retailers, shoppers can expect some very steep discounts, especially on luxury goods, this season.
Based on current discounts in retail, and analysis of trends over the last 18 months, Editd estimates that Black Friday discounts could go as high as 70 percent this year. With the majority of discounts already at 30 to 40 percent, retailers will have to "slash prices hard," as the company puts it, to entice new shoppers. In the luxury market specifically, discounting is expected to be the deepest, and should fall within the 30 to 70 percent range.
This conflicts somewhat with a separate report by Adobe, which predicts that discounts will be peak on Thanksgiving Day, averaging 24 percent. However, Editd's report focuses more on apparel/accessories retailers, while Adobe's coverage is broader, categories-wise.
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