By Kyle Gloss
$59.1 Billion dollars was spent on Black Friday in 2012, but this year, sales dropped by 13.2% according to ShopperTrak. The reason for this is most likely due to more stores opening early such as Walmart opening at 6pm on Thanksgiving. This is likely because Thanksgiving day spending rose to $12.3 billion, a 2.3% increase from last year. This spending could also account for the depletion of sales of Black Friday in a different way as well. As people spend more on Thanksgiving day, there’s less of a money supply to be spent on Black Friday, displaying another reason for lack of sales. The corporations could be another reason why profit wasn't as high, however. Black Friday deals have risen from an average of 25% off on most items last year to almost 35% off this year, possibly depleting the profit of companies. There was most likely the same amount of demand this year for the same items but there was more supply, and when supply increases and demand doesn't, the prices go down as seen. The statistics aren't all that show however, morals also play into the situation.
Black Friday last year caused for stampedes, deaths, and riots, however this year it’s a bit more tame. The sales that lead into the weekend and those on Thanksgiving day spread the chaos throughout a longer period, establishing more of a peaceful atmosphere. However, according to CNN News, people “did not try to kill each other in a stampede as in years past”, but this is still not the case. While it’s true that the guaranteed sales that Walmart had established and other measures reduced the cause for havoc, the situation was still hectic. Fights still broke out and people were still injured over the “amazing” deals. The question now however, how are the Christmas sales going to turn out?
Some studies show that people go Black Friday shopping partially to find out what their kids want for Christmas. What I’m thinking is going to happen is the holiday deals starting with Thanksgiving will stretch into December and the entire month will become one giant mesh or holiday deals. This turn is for the better because maybe it will cause less hecticity in the future years finally.
"Black Friday Post-Game: 33 Million Shoppers Was Just the Beginning."DailyFinance.com. N.p., n.d. Web. 3 Dec. 2013. <http://www.dailyfinance.com/
Black Friday deals did start a lot earlier this year, starting on Thanksgiving night. The deals are becoming more spread out lately and businesses are doing this on purpose I think. These stores know what customers want and they're going as far as being open Thanksgiving night, the night we are supposed to be thankful for what we have but then go out later that night to be greedy and find new things to be "thankful" for. Businesses may be benefiting themselves by spreading out their deals through a longer period of time to keep their business in the black, not just on a Friday, but through a period of time.
ReplyDeleteKyle this was a great piece, and I was surprised by the statistics you pointed out. They came to a bit of a shock to me, but also at the same time made sense. Judging from the piece, a concern that is overlooked is fights and people still being injured. That happened to take place this year as you said with a decrease in the spending on black Friday. You also stated that you think this decrease in black Friday shopping will carry over to increase Christmas shopping. No while I hope it does, I would hope that with more people spending on Christmas, that these fights and people being injured are events/actions that don't take place. With the days counting down, it's only a matter of time before we know.
ReplyDeleteYour statistics were eye opening. Black Friday truly plays directly to American consumerism and exemplifies it. The intensity at which people shop for the sales resulting in injuries and death is disgusting and absurd. I believe that the early opening of the stores is a disgrace to our country's history and the holiday of thanksgiving. Especially considering the irony in trampling others for good deals the day after, now during, giving thanks for what you have. While Black Friday is a smart economic holiday as it stimulated sales and the flow of money, extended it to thanksgiving is unnecessary and creating more bad than good. The consequences of the progression of Black Friday have been virtually all negative and it needs to be reigned in before it continued its decent into further madness. It needs to be reassessed as to whether it's purpose is being fulfilled and if the economy is truly benefited.
ReplyDeleteThis piece went hand-in-hand with the one I had written about early openings, the connection between the two is pretty entertaining. However the problem itself is rather depressing. Just the thought that people dip to such moral lows to save a little money is absurd and should call for higher levels of control/security. I understand that major retailers pushed their Black Friday deals into Thanksgiving to try and suppress the chaotic nature of the shoppers, yet I disagree with the ethics behind it. By opening on Thanksgiving, these retail chains force their employees to work on a national holiday rather than spend it with their families and loved ones, otherwise taking away from the central point of the holiday and otherwise rendering it obsolete. Therefore, the Black Friday chaos should not be handled by spreading it over a longer time frame, but rather with increased security and higher levels of organization.
ReplyDeleteRecently in our current issues class, we watched a video and discussed the positive and negative effects of Black Friday. I believe that Americans become to caught up in materialistic items, and agree with Elli when she says that it is a disgrace to our country's history and Thanksgiving. The chaos is too much and it is ironic that we are buying more and more things, when we were just being thankful for the items we already had just a day before.
ReplyDeleteWith stores opening earlier on Thursday, people didn't want to go out and forget the thanksgiving dinner they were going to have with their families. With stores opening earlier, it somewhat killed the spirit of black friday. It wasn't what it normally was because it started way earlier than it normally does. Black Friday does make a lot of money off of it and still did. There were also more deals for cheaper this year.
ReplyDeleteThe drop in revuene for stores and such I think is attributed to much of the stores ruining it. Like said before stores are opening earlier and earlier because the brutality of Black Friday is unreal. Along with that a lot of people decide to take the safe route and just shop online on "cyber monday" the prices are basically the same and you don't need to wake up at 12:01 to go to a store and try and shop.
ReplyDeleteTo hear that Black Friday has become a little more "tamed" this year is surprising yet beneficial. I would have never guessed, especially after so many years of heightened attention about this day, that it would become less popular. But by no means am I complaining. I have never been a strong supporter of Black Friday shopping due to the stories I hear of people being trampled and injured. I don't see why the day after Thanksgiving--a day where we are thankful for what we have--we go out and fight and hurt others for things we want. It doesn't make sense. In all, the whole Black Friday thing is overrated and it has become a silly competition between stores to have better deals, but in all honesty, those deals will come about again in the near future. I do see how Black Friday could be a good stimulus for the economy keeping competition strong, but is it worth it?
ReplyDeleteBlack Friday can simply be described as a war. It is very ironic that this day of madness and greed comes right after our nation's day of being thankful. I believe though, that Black Friday's effect is more negative than positive. Yes, Black Friday stimulates the economy greatly and even employs many people....but at what cost? Americans spend money on things that they cannot afford and do not need, people get in fights, people get hurt, and the whole entire thanksgiving feeling is lost. Although the deals are amazing, Black Friday just isn't worth it for me.
ReplyDeleteBlack Friday is always busy regardless the year. Businesses have a high supply of items because they assume from previous years that more will be needed. Even though sales increased to 35% there was a decrease in profit for this year which was probably because of the overall economy and total income people are collecting for this year. People go black friday shopping thinking they are getting good deals while in actuality, the deals aren't always the best. With everything being on sale people are obligated to spend more or so economists thought. Even with the increase in sales (35%) sales decreased overall.
ReplyDeleteThe stats show that Black Friday sales are down, but it may be to other sources than Thanksgiving Day sales. One reason that Black Friday sales are dropping might be because of the increase of the "Cyber Age". More people are buying online, and looking for deals on Cyber Monday rather than fighting the lines on Black Friday. This seems like it would be a benefit for stores as well because they can have more people in the warehouse rather than actually working the flour on days like Black Friday.
ReplyDeleteI believe that the drop of sales on black Friday is more do to the amount of people that buy things online. Also many stores now have the deal all weekend so there is not the same crazy rush to get what they want. Many people are now looking to buy things on Cyber Monday rather than waking up really early to fight over some cheap deals. The sales of black Friday are now spread from Thanksgiving to Cyber Monday compared to being one crazy day of spending.
ReplyDeleteBlack Friday does get hectic but I think its more like competitive shopping. Low prices and low supply is what makes it so competitive. Those that get in fights are ridiculous and crazy. I mean it is Thanksgiving Day there is no need for that out of control behavior. The stores opening earlier did make Black Friday shopping more tame which is good. Hopefully, as the holidays continue the higher the demand for stuff to stimulate the economy.
ReplyDeleteSo Black Friday is a good economic boost when stores open up at 4:00 am in the morning on black Friday. This year it wasn't black Friday it was shop when ever you feel like it. If it takes a few lives to get the economy going I say go for it. People die everyday it helps keep our population down which is good for me it leaves me with more nonrenewable resources that I can use and cause more global warming.
ReplyDeleteKyle, I really enjoyed your insightful response. It sure would be great if everybody could go shopping and share deals peacefully, but apparently this is not possible. I too share your dreams and aspirations for a calmer, more morally driven future. Perhaps if we were to become less fixated on money and more family-oriented, we would avert the tragedy that is Black Friday.
ReplyDeleteThere's multiple reasons why Black Friday was a lot calmer this year than many others. One of the reasons being that stores (I know Best Buy did) simulated Black Friday to help prepare and organize for it. Another reason is because stores opened a lot earlier and stayed open a lot longer so people don't panic over it and physically hurt others. These are just a few of many possible reasons Black Friday wasn't as crazy.
ReplyDeleteI agree when you say that sales will carry out to Christmas time in December rather than crazy deals exclusively on Black Friday. From experience of working in a mall, I've noticed the increasing amount of deals consistently rather than all at once. It seems that if there are deals more often, consumers will buy more consistently rather than all at once, spreading out the profit for a company or clothing store in this case, ultimately earning more money for that company, because the amount of products bought at a lower price may be more, but a few products more often at a higher price will be the best method to earn more money.
ReplyDeleteIt is amazing the amount of people that participate in Black Friday in order to get their hands on one of these deals. As you said, the average item is marked down 35% but why would businesses voluntarily lose money? Because most off these items were either purchased cheaper by the store or they had a surplus of these items.
ReplyDeleteBlack Friday is just so crazy. I work in retail and ended up being stuck there Thanksgiving night. It is sad how much it is changing. Sure, shopping for good deals is fun. But like others have said it really is ruining Thanksgiving. It seems as if every year stores are opening earlier and earlier. It is so unnecessary. I wish Black Friday would truly just happen on Friday!
ReplyDeleteI believe that Black Friday is really something that is valuable to the economy during the end of the year. It really is and helps to put that push in economy. But it is still rather sad that people will fight, physically hurt or even possibly kill someone over a single marked down item. Though it is a good thing that Black Friday was much calmer this year. Being able to help to calm things down with such a hectic part of the year will be beneficial to everyone who are directly and indirectly involved.
ReplyDeleteThe planning of Black Friday is actually so crucial for our economy. It provides a day where the demand for certain products are super high and the supply is still high but there is still a shortage because people decide to buy so much of one thing and the producer wants to make the product more desirable. It is a very strategic way to make the consumer spend a lot of money on one day of the year.
ReplyDeleteThe only reason Black Friday sales are decreasing is because stores are beginning to open so early. It seems like because the stores are opening up on thanksgiving the sales dropped by that 13.2%. Black Friday usually shows that the demand for something is much larger when the price is much lower but this year the percentages dropped and it seems like the demand for somethings are starting to lower.
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