This weekend kicks off the unofficial start to the holiday shopping season. Yet with more and more people opting to buy online, and stores offering doorbuster sales earlier, does Black Friday still have the same impact it used to?
According to the National Retail Federation, over the past two years procrastinators have actually made the Saturday before Christmas the busiest shopping day of the year.
Jerry Storch, CEO of Hudson's Bay — which owns brands Saks Fifth Avenue and Lord & Taylor and online retailer Gilt, among others — told CNBC's "On the Money" recently that while Black Friday may not be busiest single day, it still holds importance.
"Black Friday is still the Super Bowl of retailing," Storch said in an interview. "If you take the fact that so many retailers start on Thursday night and add Thursday night together with Friday, it's still the biggest event of the year."