It's the most profitable time of the year for retailers, accounting for 20 to 30 percent of annual revenue.And this year, close to 150 million U.S. citizens will go shopping over Thanksgiving weekend, says Kathy Grannis Allen of the National Retail Federation.So this is our Super Bowl. And this is really the one time in the year that the gloves are off and the competition just heightens.To compete, some stores will open early and stay open longer.Nearly all promise big savings to attract the maximum number of shoppers.But this year, some retailers, including Nordstrom, Costco and others will stay closed on Thanksgiving, while outerwear retailer REI will be closed on Black Friday as well.While their profits could take a hit. This is author Kevin Paul Scott tells us on Skype the message is about tradition and family values.And people will remember that. And beyond the holidays, when they're buying Mother's Day and Father's Day gifts next May and June, they will remember these retailers.They'll spend more money there and those retailers win in the long run.But more people are opting to avoid the crowds.This year, the NRF says more than half of all holiday purchases will be made online with one in five Americans using a tablet or smartphone.That's the highest since the NRF started asking the question in 2011.And we do think that digital is going to continue to drive the conversation in retail more and more every year.The most interesting part is not how much they spend, although that's important. but where they're spending it.
