As Black Friday kicks off the busy holiday shopping season, many have raised concerns that the day no longer holds the importance for retailers it once did and that brick-and-mortar stores will struggle to compete with online retailers.
Martha Stewart Living Omnimedia founder Martha Stewart discussed Black Friday on the FOX Business Network’s “Mornings with Maria.”
“It’s only about the price, Black Friday…it’s the pricing, it’s the sales price that people are going after and it’s an excitement, it’s really trying to get people to get out [and] shop.”
According to Stewart, Black Friday sales help get consumers into the stores, but shoppers often end up buying more than they plan on.
“They’re not going to buy just the things that are sale, they’re going to buy other things too, that’s what the merchants need.”
Stewart said brick-and-mortar retailers are suffering because of the ‘Amazon Effect.’
“We need to get people into the stores again, stores are really suffering because of online sales. But I think it’s 59% of Americans that want to shop online either by their phone or just sitting at their desk at home.”
Stewart was optimistic about the state of the U.S. economy.
“I think business is doing well and I think that we are recapturing some of the manufacturing that we’ve lost.”