NEW YORK (TheStreet) -- Black Friday is not what it used to be, according to Oppenheimer managing director Brian Nagel. He appeared on Friday morning's "Squawk Alley" on CNBC to discuss how America's unofficial promotional holiday has changed.

"Black Friday is not what it used to be. Stores are operating at different hours, we have online commerce and a lot of these traditional Black Friday deals have been offered for a long time," Nagel explained.

From what he has heard throughout the course of the shopping day, there may be some weaker foot traffic. However, that does not necessarily concern Nagel.

"That really doesn't mean much to me because this Black Friday holiday has been spread out dramatically," he said.

Furthermore, Nagel was pleased when discussing the traditional brick and mortar retailer's push into e-commerce.

"Traditional retailers have been doing a much better job online, and while Amazon (AMZN) - Get Report is still a powerful force, I think these other retailers are doing a better job of fighting back," he contended.