Black Friday


| 6 Comments

Black Friday- The Friday following Thanksgiving Day in the USA viewed as the beginning of the Christmas shopping and shoppers going overboard. To me it is a day that I look forward to every single year. American shoppers are up from midnight to the next day doing hardcore shopping. Stores and companies plan months ahead of time for this "special day" since it can become so chaotic. How far do people really go on Black Friday?

 

Before Black Friday companies and stores prepare catalogs and deals for consumers to see to make themselves look more appealing and show consumers what a great deal they will be getting. Americans all around the country go crazy on Black Friday and cause fights and scenes to get the product they want to buy. An estimated 97 million people shop on black Friday and an estimated $52.4 billion dollars were spent buy consumers on the weekend of Black Friday alone. Stores promote all the great offers they have on this day, but are you really getting a good deal?

 

"Retail-industry veterans tell The Wall Street Journal (WSJ) most of those bargains are actually carefully engineered illusions." Most of us want to believe that we are getting a great deal to stay up all night and shop. However the truth about this matter is that "instead, WSJ reports many big retailers set starting prices that, after all the markdowns, will give them the profit margins they want." So in the end we aren't really getting the price we deserve. This came to my attention this Black Friday when I was in the Coach outlet. The store bumped up the normal prices of a bag and then offered 50% off of that price although it was never that price to begin with. For example, a purse was originally $298 but the store changed the price to $368 and then offered a 50% discount so this proves stores trick consumers if you do not know what the value of the purse was to begin with.

 

Retailers have become very competitive with the economy we are in today. However, they are creating better and more effective tactics then ever to suck consumers in. Retailers are offering discounts and sales sooner then black Friday so people are lead to believe the sales on Black Friday will be unreal. Not everything is true about Black Friday, some of the amazing deals you think you've been getting could just be a trick. So for next year make sure you keep yourself updated with social media and learn how to avoided rip offs. 


Sources:

http://www.nerdwallet.com/blog/shopping/2012/retailers-preparing-black-friday/

http://www.wcpo.com/money/the-truth-about-black-friday-data-shows-the-biggest-shopping-day-of-the-year-may-be-a-ripoff

http://www.buzzfeed.com/amyodell/9-stats-about-black-friday-that-will-blow-your-min

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6 Comments

I hate to admit that I am aware of this issue, yet I still went black friday shopping this year and for as long as I can remember. I think that even though people are aware of this, we see it as a tradition and something fun to do, so we ignore the scams. In the article that I posted below, it says that even President's Day and Labor Day have better deals than Black Friday! That is just mind blowing considering that those holidays do not get nearly as much recognition for major discounts. Maybe it's time that I start a new day of tradition in my family to go out on President's day- better deals and less angry mobs.

http://abcnews.go.com/blogs/business/2012/02/presidents-day-sales-better-than-black-friday/

I had always been a huge fan of black friday up until this year. As I become more aware of how businesses work, this day just seemed to be to good to be true. Something has to be wrong, either the prices or the products. As you pointed out, the prices are skewed to make them seem like good deal. Also, I found out that most electronics you buy on Black Friday are poor quality. Manufacturers produce electronics so fast to keep up with demand that the quality becomes compromised. I learned my lesson when I bought a tv on black friday and it broke within a year.

Nicolle, it's such a sad thing when you find out you're favorite tradition is all a scheme. Last year my best friend was working at Macy's and explained to me that many stores, including Macy's racks up their prices just for the special holiday. I noticed that when I went shopping this year, a lot of what I purchased wasn't even on sale. All of the on sale stuff that I saw was simply leftover. Another thing that I noticed while shopping was that a lot of the stores deals included "AN EXTRA 50% off Clearance!" Well I don't want what's on clearance. I want deals for the upcoming season, not last season clothing. Black Friday used to be about getting great deals and great sales, but these stores have become smarter. They are using the Black Friday Rush as a way to lure people into their stores so that they will see the latest and greatest and ultimately buy those things rather that the actual sale items. It's become an intelligent trend, but I'm curious as to when people are going to realize that it's not worth it.

http://online.wsj.com/news/articles/SB10001424052702304017204579227682949866114

Personally, I have kind of lost interest in Black Friday. The sales just are not as good as they look, plus to get those advertised sales you will have to probably camp out or get there as early as possible to even have a chance to get the sale item (and that is probably why we have so many instances of people stampeding into the stores and people getting hurt). Black Friday is more or less the company's playing the consumer's for chumps more or less and offer "good" deals, but deals I would not call "great" or "amazing" to be perfectly honest.

Nicolle, it's such a sad thing when you find out you're favorite tradition is all a scheme. Last year my best friend was working at Macy's and explained to me that many stores, including Macy's racks up their prices just for the special holiday. I noticed that when I went shopping this year, a lot of what I purchased wasn't even on sale. All of the on sale stuff that I saw was simply leftover. Another thing that I noticed while shopping was that a lot of the stores deals included "AN EXTRA 50% off Clearance!" Well I don't want what's on clearance. I want deals for the upcoming season, not last season clothing. Black Friday used to be about getting great deals and great sales, but these stores have become smarter. They are using the Black Friday Rush as a way to lure people into their stores so that they will see the latest and greatest and ultimately buy those things rather that the actual sale items. It's become an intelligent trend, but I'm curious as to when people are going to realize that it's not worth it.

http://online.wsj.com/news/articles/SB10001424052702304017204579227682949866114

I absolutely never take part in Black Friday festivities. From when I first moved to America and heard about the huge scam, I knew I'd never step foot inside a retail store on that day. The traffic, the overpopulation, the tension. It's too much for such a silly cause. There have been reported injuries and even deaths because people are so overly obsessed with materialistic possessions. What's sad is that this tragic "holiday" comes the day after the day where we reflect on what we are most thankful for. This chilling website tallies the deaths and injuries that occur on Black Friday. Without the retail sales and clearance offers, this is what that day truly costs: http://mashable.com/2013/11/29/black-friday-death-count/

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