Black Friday Shopping
Jess Fonte
As the holiday season rolls around, shoppers who hunt for deals are going to try and push off buying until Black Friday. This year, it is predicted that the Black Friday shopping experience is going to be the best one yet. However, the best of the deals may be hard to get as they often have a limited quantity, so it’s important to know what you’re looking for and to try and get to that item as quick as possible. It’s typical to think of Black Friday as a day where shoppers are running into stores trying to snatch the best deals, but nowadays more and more stores are offering online deals that are just as good. I believe that instead of wasting time waiting outside of stores on Thanksgiving, more people should start saving online; especially so you don’t have to deal with this.
If people are really trying to keep it traditional by avoiding the online hype, they need to weigh out the opportunity costs of purchasing items in store. Is saving $100 on a smartphone really worth missing your family’s Thanksgiving dinner? Or instead is it better to only save $90, but get to purchase the item from the comfort of your own home? These are all personal decisions, but they are ones that individuals need to make when deciding whether to shop in stores or online.
One of the reasons that people may choose to shop in store instead of online is due to the fact that they are not the best with technology. However, there are many ways that you can make your online shopping experience very enjoyable. An important thing to do is plan out what you want to buy, and then decided what your willingness to pay is for each item. This will allow you to have a budget so you don’t end up buying things that you normally wouldn’t want. It’s also important to know when the online deals start because you usually need to act fast on them. This is because there will be a shortage of the good that you want. When the price decreases, there will be a movement along the demand curve, but there will also be a movement along the supply curve. The buyers will want more, but the sellers will supply less.
It is predicted that this year, some of the best online deals will be on Amazon. Specifically, if you want to buy beauty products this upcoming Black Friday, you need to purchase them from Amazon very quickly. Since they have such good deals, the demand for substitutes being sold at higher prices is going to decrease. Why pay more for a similar good when you could pay less and get free shipping from Amazon?
Ultimately, it is a person’s decision to decide if they want to shop in stores or online this Black Friday. No matter which you choose, just remember to know exactly what you are shopping for and where you plan on getting it from. Also, always set a budget in order to eliminate purchasing unnecessary items. Finally, if you are planning on shopping online, this video has five quick and easy tips to make your shopping experience wonderful.
"Circuit City #3157 - Black Friday Door Open - YouTube." N.p., n.d. Web. 24 Oct. 2016.
"Black Friday Predictions 2016: Inside Info on the Most ..." N.p., n.d. Web. 24 Oct. 2016.
"Black Friday Beauty Predictions 2016 - Dealnews." N.p., n.d. Web. 24 Oct. 2016.
Personally I agree that it makes a lot of sense to be shopping online since it is not only more convenient, but if there are shipping costs, I feel that they are worth it considering the crazed environment you will avoid by shopping in the comfort of your home. It’s a great idea that you bring up having a budget since it is very easy to click on something you find appealing, put it in your cart and end up at the checkout page with over $300 in products to purchase. Also, you brought up a good point with beauty products, substitutes are a big part of the beauty market and definitely go quickly since so many people want to save money by purchasing an alternative product with the same purpose, but at a lower price. All in all, I will be doing my Black Friday shopping on Cyber Monday this year and enjoying my Thanksgiving with my family.
ReplyDeleteI agree that it is much more convenient to online shop for black friday, as you don't have to face long lines and crowded stores. However, you also have to put in the fact that some stores don't have the same deals online as they do in stores. You also have to add the cost of shipping which, for some people, may be a bigger cost than actually going out to purchase the item(s). I also think that the increase in shoppers may be a cause of how early black friday shopping is now. It isn't even on friday anymore, it is on Thanksgiving which may make it easier for people to go at night rather than at 2 a.m., as it used to start at.
ReplyDeleteYou make some good points, especially the one about shipping. When I was doing research, it is true that for the majority of stores on Black Friday, they offer free shipping. However for the small majority of stores that do not, I agree that it would be best to simply shop in store than to spend extra money on shipping. For some people though, they may think that the opportunity cost of not getting the same excitement you get when you’re in store isn’t worth it, so they’ll stick to shopping in store. Although it is easier for some people to go out early on Thanksgiving day, for some it may be harder because they do not want to miss out on time they could be spending with their family.
DeleteYou make some good points, especially the one about shipping. When I was doing research, it is true that for the majority of stores on Black Friday, they offer free shipping. However for the small majority of stores that do not, I agree that it would be best to simply shop in store than to spend extra money on shipping. For some people though, they may think that the opportunity cost of not getting the same excitement you get when you’re in store isn’t worth it, so they’ll stick to shopping in store. Although it is easier for some people to go out early on Thanksgiving day, for some it may be harder because they do not want to miss out on time they could be spending with their family.
DeleteI agree with Madyson as I personally believe that it would be far more convenient to shop within the comfort of my own home. Yet, I also agree that it depends on the cost. If there were to be shipping costs and such extra prices then I would most definitely find it worth going out into the crazed environment in order to get a better price on something I want or something for someone I love. Although since budget was brought into this I also feel I would spend more online than in store and buy things I really do not need because, as Mady said, I would just add things to me cart and think I am saving by buying everything now. Overall, I do not normally shop during black Friday but if I did then i would probably take my chances in the mess of crazed shoppers.
ReplyDeleteBlack Friday is one of the biggest shopping days of the calendar year, and this is a day that produces major sales for many businesses. Those who shop in person or online on Black Friday often times leave the store or website with an individual consumer surplus on that item. Most people would not pay for an expensive item like a TV at its full price on a normal day. However, if they knew that they could have a major individual surplus by purchasing it on Black Friday then they would possibly go out and get it. It is that idea there that intrigues people like me to shop either in person or online on Black Friday.
ReplyDeleteLike what Madyson had said, shopping in your own home is much more convenient. It still allows the family to be together even on such a crazy night. A "holiday" like Black Friday, brings in a lot of business for companies. Which is stated in the Law of Demand, Consumers will buy more of a good when its price is lower and less
ReplyDeletewhen the price is higher. When prices are low, or there are sales that decrease the price significantly more people are going to want to buy. I agree with your statement that it is important to weigh the opportunity costs, sometimes getting the better deal means going out to the store and buying it. By getting a better deal in stores, it will decrease your willingness to pay, but when shopping online that willingness to pay all of a sudden decrease, it disappears. A consumer will tend to buy things they don't need just because it is on sale and they might need it later. Ignoring the opportunity costs and willingness to pay, Black Friday benefits both the consumer and the producer.
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ReplyDeleteIn some ways this is true, for me. Yes, Black Friday can be really crazy, but it's also kind of fun to be up at 2 am, getting good deals, saving some money. However, a lot of the things I buy are cheaper on Amazon, so that's where I do most of my shopping. I believe that the only reason people shop on Black Friday is because it's a "holiday', specifically made for getting good deals. What people don't know is that most of the products are marked down so much because of the surplus that the company has. It happens all the time with cars and trucks. When the new model year car comes out, there's a shortage, or demand for them, but at the end of the year when the dealers need to get rid of them, there's a surplus. Overall, it seems foolish and impractical to go black Friday shopping.
ReplyDeleteI agree that shopping from the comfortable of your own home is more desirable to most people. However, I don't agree that it provided better prices. Most online shopping contains extra costs like shipping, and taxes. In my opinion I would rather go out an buy the product at a store for a similar price and not have to pay shipping cost and wait for it to be delivered. Also I think that a lot of people go shopping on Black Friday not only for the deals but for the thrill of pushing threw people to get their new TV. I think it is completely up to people who shop on Black Friday. If they prefer to get their stuff online then they will continue to do so. Also if people prefer to shop in stores for the thrilling aspect of Black Friday then they will also continue to do so.
ReplyDeleteI agree with what you are talking about shopping has gotten to a whole new level with all the shipping companies and all the places to buy everything and black Friday is almost a new holiday its become so crazy. Instead of doing all that have you ever heard of cyber Monday its where all the shopping online puts most things on sale and you wont have to do that much work and have to sit in line just go online and pay a little more.
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