Retailers Ramp Up Black Friday Bargains

BUFFALO, N.Y. -- Shoppers woke up at predawn hours clamoring for bargains on Black Friday, marking the official start of what is expected to be a very promotion-laden holiday shopping season.

Retailers unlocked their doors as early as midnight, hoping to entice people with short-lived deals. Many outlet stores opened at 4 a.m., while malls opened an hour later.

The National Retail Federation estimates that about 132.9 million shoppers will be piling into stores the weekend after Thanksgiving. Holiday sales overall are expected to climb only a modest 4% for November and December combined, the smallest increase for the industry since 2002.

Ellen Davis, a spokeswoman for the National Retail Federation, says that although Black Friday may have started off with a bang, that won't necessarily translate into robust sales for the rest of the holidays.

"Although it's great news today that people are shopping, there needs to be a bit of realism that the season is still going to be a challenge for the retail industry," Davis says.

Last year, holiday sales climbed by 4.6%, totaling $456.2 billion, or 19.6%, of retail sales for the year.

Black Friday, as the day after Thanksgiving is known because of its potential to get retailers out of the red for the year, isn't the busiest shopping day of the year. But observers typically use it as an initial read on the holiday shopping season.