Philly Black Friday Shopping to Rise Before Sun Comes Up
East Coast retailers that have set up shop in malls owned by Pennsylvania Real Estate Investment Trust (PREIT) can look forward to added opportunities to take advantage of so-called “Black Friday” shopping. PREIT is opening the doors to nearly all of its malls at midnight on Black Friday, Nov. 23, 2012, to allow shoppers access to the added-value sales many retailers are offering exclusively during the overnight hours. PREIT says that by opening its malls at midnight, it’s offering its retailers the opportunity to benefit from significant consumer demand during one of the most critical shopping days of the year. (Individual store opening times and notable Black Friday offers will be posted on mall Web sites and social media sites leading up to Thanksgiving and on Black Friday, it says.)
Throughout the holiday season, PREIT malls are offering a variety of enhanced promotions to augment the shopping experience. For example, retailers may benefit from extended holiday shopping hours, more foot traffic from those customers who come for “Santa photos,” and community-oriented seasonal events and charitable programs, among other incentives. PREIT’s primary investment focuses on retail shopping malls. Its portfolio consists of 49 properties located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region.