Black Friday may have undergone a ‘fundamental change’ due to the coronavirus pandemic
The coronavirus pandemic caused retailers to shift their approach to the holiday shopping season, opening the promotional window for Black Friday deals much earlier than years past. And some in the retail industry believe the adaptions may become standard practice going forward.
“We’re seeing a fundamental change in the promotional calendar,” Steve Sadove, former chairman and CEO of Saks, said Friday on CNBC’s “Squawk Box.” “I think the retailers have done a brilliant job extending the season, and that will play out as we go into next year,” he added.
In an environment where the pandemic has led more and more consumers to online channels, the earlier start to the holiday should prove beneficial in avoiding significant shipping delays for orders that are placed after the first couple weeks of December, Sadove also said.