Black Friday sale kicks off; massive discounts thrown on products

Zee Media Bureau

Black Friday shopping has kick started, thereby setting the tone for the rest of the holiday season.

Globally, Shopping streets, out-of-town malls and websites are awash with discounted goods on Friday as shoppers chase "Black Friday" deals in a spending frenzy expected to top last year's record level.

The hugely popular American phenomenon of Black Friday brings retailers across the United States to offer discounts to lure bargain-hunters.

While Black Friday is not always a strong forecaster of holiday spending, last year reports of poor Black Friday spending were followed by deeper discounting and a rush of buying in the week before Christmas.

The shopping season spanning November and December is crucial for many retailers because the two months can account for anywhere from 20 to 40 percent of their annual sales.