WWL>Topics>>11-6 8:15am Tommy, Thanksgiving Day shopping

11-6 8:15am Tommy, Thanksgiving Day shopping

Nov 6, 2013|

Tommy talks to Dan D'Amico, an Assistant Professor of Economics at Loyola, about the trend to start Black Friday...on THANKSGIVING

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Automatically Generated Transcript (may not be 100% accurate)

870 and Tommy Tucker we'll continue our conversation. About ATVs and kids on streets and who should be charged for that if anybody. We're talking about shopping right now quickly. On Thanksgiving Day. And it seems to be a game of poker going on many stores opening on Thanksgiving Day but a lot of -- and until. The afternoon after I -- shoppers get to spend some family time two hours or Toys 'R' Us. An open at 5 PM three hours earlier than last year Macy's Kohl's JC Penney and Sears. Regular people in at 8 PM the Kmart. Opens at 6 AM on Thanksgiving game they've done that for the past three years. Last year they let employees go home at 4 o'clock this year not the case. And they've gotten some push back on social media talking about. Kmart is morally bankrupt. I know your goal was accused corporations make money but sometimes you need to show and prove that people are important to not happy at all that the Kmart employees have to work. On Thanksgiving. Day and Demeco joins us right now -- assistant professor of economics at Loyola and would get back to your calls in the second -- on good morning how you do -- Banks have taken the time with -- the thing. That I initially thought outlines on this is. Are they stretch in the same money. Over that four day weekend Thursday Friday Saturday and Sunday or will. People go out on Thanksgiving and and they're gonna increase the overall take. I think you're probably right in the in the first part mostly that I think that a man out of money that. -- ordinary citizenry space in the retail sector. During -- shopping. Pretty sixties he he could be bigger during times of opulence and smaller during recessionary times -- would tend to have an important. -- -- -- So my guess is that. Bad and of the retail sector's relative it's all it's just a matter how the different competitive stores -- -- that. So the reason why you see a company like Kmart doing -- and not accompany -- target. It's not necessarily because they're morally bankrupt both because they're close to. You just. I mean there's sort of seeing the retail also the people who are more desperate are going to be the ones who work. Trying to think outside the box apple get the customers in our stores -- get that to -- the bulk of their shopping here instead of our competitor. So overall than the amount of money might be the same but. Kmart cheer could improve by opening on Thanksgiving or increase rather. -- exactly. I mean they're trying to -- -- to carve out a bigger engaged. Relative to the other competitors I mean that sort of the good part of the competitive business process from a consumer perspective. You have more options you can shop. Around your own schedule on an an idea we. The longer timeframe will need less crowds -- sort of less cost. Involved when you go whenever -- used ago if you go on all powers of those early morning hours you know we -- worried. Avoid crowds and overcrowding in the and whatever costs are associated with that. But again I think. What what that firms trying it would that was would target vs Wal-Mart Kmart or altered due. He -- is short themselves. -- profit margin in -- a potentially small and the war -- Aside of retail revenues especially in the major culprit here in addition to to low economic performance of patient is Internet retail. In terms of the thought process that goes in this I presume a company this big. Doesn't just do anything for grins and giggles apparently they've done some research that would indicate. They're going to be pretty busy on Thanksgiving morning. Thought might get it at that level they're just trying to a fuel. And as. Detroit appears near their earlier they're better they're sort of more accommodating than their competitors. And also just the notion that ball. We -- -- -- diverse society not every one celebrates. Thanksgiving in the same way a lot of our immigrant communities don't have strong. Connections qualities or lot of people are are relatively simple and with the urban environments and they don't. They don't have large family gatherings what to go to so I mean. Despite changes a little bit you're gonna expect to see. Those sort of the only restructuring. I appreciate your time -- some interesting stuff did to make Oprah assistant professor of economics. At -- had a great day.