Written By: Bella P.
The weekend that follows thanksgiving is better known as Black Friday. The Friday after Thanksgiving is the day in which is most stores offer highly promoted sales on almost everything and open extremely early. The Monday following Thanksgiving is known as Cyber Monday. Cyber Monday is black friday for online sales. Black friday used to be known solely for the friday after but can be recently known to extend until Cyber Monday. The participation in Black Friday has become a custom to most people in the united states. Black friday sets the beginning of season of christmas shopping. According to the National Retail Federation, “About 165 million people shopped in stores or online between Thanksgiving and Cyber Monday. Over that time period spending an average of about $313.29”Are Black Friday’s so called “great deals”, actually good deals? All stores hype up the deals that are going to happen on black friday, but are they the best deals that occur each year? Recently stores are tending to start their deals in early november and the weeks leading up to black friday-- these deals can be extremely good and may even come close to being better than those of Black Friday. Even the days and sometimes weeks following christmas there are deals to get rid of some of the stock that they had loaded up on for christmas. This is present in stores such as walmart and target in which they have additional aisles (soley for toys) in the weeks leading up to christmas.
Black Friday encourages and makes it easier for people to be more impulsive while shopping which can have a negative impact on people. 46% of purchases made during Black Friday, people claim are spent on things that they want-- not things that they actually need. When black friday encourages overspending it then defeats the entire purpose of people trying to save money. When people impulsively buy during black friday they do not know if the deals are actually good deals. Impulsive buying can really add up in the end. Purchasing a lot of unneeded items can put a set back in your financial budgets.
Works Cited
“10 Reasons Black Friday Is Awful and Needs to Go Away.” Business Insurance Quotes Compare Providers for Free RSS, www.businessinsurance.org/10-reasons-black-friday-is-awful-and-needs-to-go-away/.“Black Friday (Shopping).” Wikipedia, Wikimedia Foundation, 2 Dec. 2019, en.wikipedia.org/wiki/Black_Friday_(shopping).
Garza, Alejandro de la. “Is Black Friday Still Worth It? We Asked the Experts.” Time, Time, 20 Nov. 2018, time.com/5459198/black-friday-worth-it/.
Investopedia. “How Thanksgiving and Black Friday Affects Stocks.” Investopedia, Investopedia, 18 Nov. 2019, www.investopedia.com/ask/answers/102714/how-stock-market-affected-thanksgiving-and-black-friday.asp.
JC Candanedo. “Is Black Friday Still Worth It For Anyone?” JC Candanedo, JC Candanedo, 14 Nov. 2018, www.jccandanedo.com/blog/is-black-friday-still-worth-it-for-anyone.
I agree with this article because the deals that occur on black Friday just so happen to usually extend throughout the entire weekend and the hype of waking up super early to get the best deals isn't always needed. I know from experience that this year when we woke up early to go shopping, there were obviously great deals available, but those same deals were still there for the next few days so whats the rush. Overall I think black Friday is getting less and less hype each year due to deals that last for longer.
ReplyDeleteI think this is a good point that you brought up. If the items are something that you need and its one or two things it could be a good deal but what makes this dangerous is when like you said it's wants more than needs and they get into the mood of oh I'm saving so they start impulse buying things and not pay attention to the costs that are adding up. With this known do you think it is even worth going out for Christmas shopping on this weekend or should you buy your Christmas gift before or after this weekend?
ReplyDeleteIt is interesting to know when the deals are best at these stores. The reason it works though is supply and demand. Stores advertise low prices on Black Friday, but they keep their prices as high as possible, while still remaining competitive. Of course, after the holidays, there is no longer any demand for Christmas products so their prices drop, especially for products that cannot be kept for the next year.
ReplyDeleteThis is relevant to me and a lot of my friends. I recently bought a pair of shoes during black Friday that were $65 dollars with a 15% sale, making them about $54. I checked about two days ago and they are now listed at a price of $45 without any sales or discounts. This means that the company increased the price but added a discount to draw gullible people (like me) in to buy the shoes during the busiest shopping day of the year. This one way retailers can manipulate shoppers into spending more money.
ReplyDeleteWhen Black Friday rolls around that is where stores start to take advantage of customers. Setting out deals that we may think or deals but really you are just spending more money than you need to. I do agree that people buy off of what they want not really things they need. I agree that there are good deals weeks before christmas however when waiting just weeks before are when stores are trying to get rid of toys they they don’t want to go shopping on Black Friday, you will be able to get the things you want right away. I personally believe that people take it way too seriously.
ReplyDeleteI agree, for most Black Friday isn't the best saving day of the year, however, I think that Black Friday still has some benefits. Even though people are spending money on things they want or think other will want instead of things they need, it is probably good that they are purchasing these items on Black Friday. They most likely would have bought these items anyways because of Christmas, so they might as well be getting the good deals that Black Friday offers. In addition to this, I think that Black Friday is good because although it might cause people to have impulse buys, most stores allow you to return these items all the way past Christmas (so if the person you give a gift to can return the item), so if you experience any buyers remorse, you most likely can easily return the item to the store and get all of your money back. These deals only come around a few times a year, so sometimes it isn't a bad thing to go on a spree and then reassess your spending.
ReplyDeleteThis is a pretty fun topic. For the past few years it's sort of become a tradition for our family to go black Friday shopping with family friends Even though we know, we're not actually doing it to save money, we do it so we can buy things we want, but at better prices than usual. But I agree with you too. Companies try and take advantage of the misconceptions of black friday on how the deals are the best of the year and only for a day or two. People tend to just trust what the companies easy without doing a simple google search to check. And they take advantage of that indifference/laziness as well. Hearing that sometimes they have even better deals before or after black friday surprised me a little. I will admit to being compelled to buy something just because I was afraid that I would have to wait another whole year for a deal like it again.
ReplyDeleteI definitely agree that even though it has been advertised for years that Black Friday is going to give you the best prices and deals out of the entire year. Although, stores can continue to drop prices before and after Black Friday. I just recently went to the mall after Black Friday has been over and passed for a few days, and I still found incredible deals on new clothes and Christmas gifts without having to worry about the crowds. You also do not have to worry if the deals are going to be really worth the deal because it is just a regular unknown shopping holiday. I definitely believe that as consumers we most definitely get sucked into the deals that we can earn on certain items which can lead to us over spending on things that we really do not genuinely need.
ReplyDeleteI like that you picked a topic that is going on right now and many people can relate to. This year I didn't go black Friday shopping because I am not that huge of a fan of it and it is a waste of money. You talked about just how many Americans go Black Friday shopping each year and the numbers are crazy. There is so much money spent on this day and don't think this day is as fun and worth it as people make it seem. You also brought up the fact that 46% of purchases are wants and not needs. This means that though there are deals, people are really just wasting their money on things they would not normally have bought. Overall, I think that Black Friday is a cool day and fun for teens and adults, but it might just be a waste of money and the deals are not always honest deals.
ReplyDeleteI had worked on black friday and target had over 350,000 dollars in revenue in stores in one day. People go crazy over these deals.
ReplyDeleteBlack friday is definitely not as great as many stores claim it to be. I work in retail and we start having deals november first. The deals I saw on Black Friday were the same as the deals seen through out the month, only there were a couple more of them and there were Black Friday signs everywhere. And even the crowds, I nearly forgot it was black friday on the actual day. However, in the beginning of November when the deals started, it was crazy. Everyone went then and barely anyone showed up on actual Black Friday. I'm wondering if this is a shift where we no longer have a Black Friday but instead a Black November. The deals are scattered throughout the month and more people participate in Cyber Monday now. It'd be interesting to see how these sales have changed through out the years and what we can expect in the future.
ReplyDeleteI think that your last paragraph is a really great summary of the effects or outcome of Black Friday. People always want to get things that they don't necessarily need but get because it is on sale for a "good price" compared to what it is regularly priced. I agree that a lot of Americans buy things impulsively because of the name "Black Friday". Even when people say they are getting gifts to save money on the Christmas shopping they still end up buying stuff they didn't need to for themselves or others which can cause them to over spend. So my question is, do you really save money on Black Friday?
ReplyDeleteThis was very interesting to read and crazy how many people care so much about black friday to the extent that they're camping outside of the stores for hours with tents. The lines are insane and it's crazy to think people would rather go into the store than shop online in the own comfort of their home.
ReplyDeleteI agree, Black Friday make it feel like if you don't buy it now then there won't be deals ever again. Even though that is not true and sometimes there are even better deals without people realizing it, many still go out and spend more than they intended. This can leave a big impact on those who are trying to save. It is smart though to spend on what you need and have self control. This time of year is a good time to get a head start on Christmas shopping because of the deals. It would be smart to make a list of the things you need and stick to only buying those when you go out.
ReplyDeleteIn some ways I agree with this but in other ways I don't. If you shop on black Friday and get things that are on sale that maybe you've been wanting but it wasn't on sale prior to black Friday then you are saving money on that item. I know that my mom waits till black Friday to go Christmas shopping because the majority of the things that my sisters and I ask for, are only on sale during black Friday weekend. Yes, people to spend a lot of money on black Friday shopping, but if they were buying the same amount of things without the sales, then they would be spending way more.
ReplyDeleteMost black friday deals are now lasting through the weekend, and there isn't many people having to rush into the stores. However many of the deals might only be 10-20 dollars off making it look like a good deal. With these deals they are focusing on selling more quantity to make more money.
ReplyDeleteBlack Friday gets a lot of hype and mostly from the younger generations, we hear all these deals and just expect everything we buy will be on sale when that is definitely not true. We suck ourselves into what we believe or want Black Friday to be when the reality of it is nothing close to these "huge" deals.
ReplyDeleteI think it is very interesting that it actually encourages overspending. Also, the fact that these deals defeat the purpose of saving is very interesting as personally, my family tries to keep our spending to a medium when black Friday comes around.
ReplyDeleteI think Black Friday is a really good way for a bunch of stores to make a ton of money. I agree and think this is because they over hype all the sales. This makes everyone think that they are saving a lot of money when really they are overspending. Overall I think black friday is worth it if you are actually spending money on things that you need. All the deals are tempting and can probably cause people to spend way to much money.
ReplyDeleteI like reading about Black Friday and the statistics that people find on the event. I definitely make it a point to use the deals that Black Friday has to offer on Christmas presents but somehow every year, I spend all my money on items for myself that I honestly don't need. I can completely understand where they 46% comes from. One thing I was shocked about was that one of the most popular buys were traveling items and office supplies.
ReplyDeleteIt's interesting to note that we are always told to save save save growing up from teachers and parents and then on Black Friday stores are practically begging you to purchase not needed products. These opposing perspectives can cause confusion and likely make people make impulsive decisions resulting in a plethora of unnecessary items. Also, I'm shocked that the average amount spent is $313.00 that's so much! It would be interesting to know the difference in amount spent on a typical day versus on black friday.
ReplyDeleteMy family used to participate in Black Friday, but now we don't usually go out for it at all because of this. Or, if we do, my parents make a list of the things we need/should get and we only buy those items. Companies really take advantage of shopper's impulsive spending habits during this time of year, and it seems really obvious, but in the moment it seems less so. It's important to do some research and plan if you do need to go Black Friday shopping so you don't end up overspending on a holiday of bargains.
ReplyDeleteThis article and the information included is super interesting to me because for the longest time now my family has made it a tradition to go Black Friday shopping for hours on end every year. The fact that you included about 46% of people purchasing wants and not needs is also crazy to me because I have now noticed that I am one of those people. Black Friday is a weird "holiday" because it is all about greed and the day before is all about being thankful. But, it is a good contributor to the economic success of most companies. I think people need to realize that Christmas is just like thanksgiving with the idea that you should be thankful for everything you have. Great article!
ReplyDeletePersonally I have never gone black friday shopping so I cannot speak to the experience it provides but I know that a lot of times people go out shopping for something specific and come back with things they didn't even need/want. The craziness of the holiday is much to crazy for me so i prefer to stay home.
ReplyDeleteI think it is really interesting that only 46% of people only buy things that they want and not what they need on Black Friday. Honestly I was expecting a higher amount. I agree when you said that the Black Friday sales may not be the best sales that the store is offering. They usually offer the best sales around closer to Christmas time because they want to get rid of their stock. Overall I really think Black Friday is just a way for people to spend money on impulse.
ReplyDeleteIt seems like every year Black Friday becomes longer and longer. This year I heard about Black Friday deals for around a full week. It is really interesting though how many people overspend. This is seemingly a good business tactic to get people into stores and spend too much money.
ReplyDeleteThis was truly thought provoking as I was astonished that the average American shopper spent their money for items they want rather than items they needed. The fact that 46% of Americans bought items that they wanted. Nearly half of them bought things they wanted has me perplexed.
ReplyDeleteBlack Friday definitely makes it easier for shoppers to overspend on things that attract attention, but Black Friday is when most of my Christmas spending occurs, along with things that I have wanted/needed that go on a larger discount then normal. For example, I used black Friday deals this year to buy some of the larger purchases needed for college next year. However, because of the deals lasting the entire weekend, there was more spending than before. But furthermore, similar deals start at the beginning of the month in preparation for the holidays and the deals usually last for a week after black Friday.
ReplyDeleteI always found reading about black Friday interesting. It shows how much people can overspend even when there are not that many good deals. I'm honestly not a fan of black Friday shopping, stores can literally have the same sale just a month later.
ReplyDeleteI definitely agree that Black Friday increase impulsive buys from consumers. I am not however surprised that about half of people buy things that they want not things that they need. The majority of people that I know go Black Friday shopping to buy clothes or early Christmas gifts, not necessity. That is the luxury of having Black Friday right after Thanksgiving; people are beginning to need more winter clothes and it starts up Christmas shopping. I feel that many people don't mind the overspending due to this fact. They feel that it's okay to spend more because it is a transition into a new season and new holiday.
ReplyDeleteI agree with this article because Black Friday usually offers the best deals to consumers but in my personal experience, the deals seen on Black Friday extend throughout the rest of the weekend to Syber Monday. So why do people wake up really early on Black Friday to get the same deals that are available the next day? Like most things Black Friday is a tradition for most people and it is more so the race of getting up early and rushing to that new TV that is 50% most Black Friday shoppers enjoy.
ReplyDeleteThis year I didn’t actually go shopping on Black Friday, but I did do some online shopping over the weekend and on Cyber Monday. However, I didn’t spend anything close to the $313 average spent by Americans. That number is actually lower than I thought it would be considering that people make a lot of large purchases on Black Friday weekend. I did notice this year that the deals started a lot earlier than Thanksgiving. I agree that people do purchase a lot of unneeded items on Black Friday just because the deals may seem really good. I wonder, how much of Black Friday is a game of advertising rather than actual price cuts?
ReplyDeleteI think that interesting that stores could have sales that are just as good, or even better than the Black Friday deals in early November or before Christmas. To me that sounds like a better time to shop as Black Friday shopping is very crowded and busy. Prior to reading this, I figured that people make impulsive purchases on Black Friday but if there’s something that you truly need, Black Friday can be a great time to get a good deal on it.
ReplyDeleteIt is becoming increasingly popular for the "doorbuster" deals to occur on the Thursday of thanksgiving rather than the Friday after, too. It should also be noted that the people going out on black Friday think they’re saving money, but in reality, corporate marketing is subconsciously encouraging them to buy more than necessary. That’s the economic point of black Friday. Consumers think they’re getting the better end of the deal. Businesses think they’re getting the better end of the deal. Everybody wins.
ReplyDeleteI do agree that it is an interesting topic being Black Friday because of that it has been a weird contempt to get around the fact that Black Friday shoppers spend a lot on what they want rather than what they need because nobody talks about the food items during balck friday because they think oh I can get 50% off this 4k tv I’ll get that when you can just go into a store and buy a lot of food for a lot less money than you would usually think so I think the food market would also be affected by that either.
ReplyDeleteBlack Friday definitely makes it easier to get caught up in the moment and spend more than you normally would. But you would get the same deals at 4 am on Friday as you would at 9 am on Friday, so you just have to be reasonable with it. But it does encourage holiday shopping to get movin’.
ReplyDeleteI'd never realized black friday could get people so impulsive, I haven't participated in black friday but I did go online for cyber monday this year to get a few gifts.
ReplyDeleteBlack Friday is definitely something that is a problem in the United States because of the culture it cultivates. With how so many people spend all of their savings on a few good deals instead of saving for things that are actually important, it can ruin lifestyles. Especially since Black Friday can be extremely dangerous, with deaths due to trampling having been reported in the past happening on previous Black Fridays. So many people get caught up in the over-hyped deals they forget all common sense and decency that go against what Thanksgiving, which happens the day before, really means. Being thankful for what you have. Black Friday needs to go, not just because of what I said here, but also because of what was written about overspending in this post.
ReplyDeleteI can relate to this topic a lot as I too go out during Black Friday seemingly thinking I'm getting a better deal than if I were to shop on a different day. However, this year has made me realize that I'm actually not getting a "better" deal, I'm just buying more things at a slightly lower price which in turn doesn't have positive effects because I'm still spending too much to get that "free item" (which seems to be a lot more popular this year with businesses). It's different when it's your own money because you can actually see the negative effects black friday has. Ever since I've started shopping with my own money, I'm become more aware of what I'm buying and how much it costs. After going through shopping on Black friday for myself, I understand where people are coming from. I still spent a lot more money than what I wanted and only got a handful more items. Black friday is a mind game which is often effective for many shoppers.
ReplyDeletePersonally, Black Friday has been a deterrent to go shopping during the weekend after Thanksgiving for me. After the first 24 hours some stores look as if they have been raided and cleaned out. The deals that are being offered are usually not that great, but the hype associated with black Friday adds a sense of urgency to but these items before somebody else does. The psychological factors play a larger role than the deals the stores offer.
ReplyDeleteBlack Friday is interested in the fact that in the United States it is known as a holiday to some Americans. While it isn’t officially a festive holiday, it is a day in which Americans can celebrate in their own way. The way being, that they spend money on as many things as they want on Black Friday because of all the deals that are out there. I’m glad you gave a statistic of 46 percent of purchases are ones that are not needed, but are wanted by people. That is almost half of all purchases that aren’t truly needed and are only for things that people want. Along with this, it is rumored that during Black Friday stores will put out products that don’t work to their full capacity compared to the same product that did not go on sale. It’s reported that some items that go on sale such as televisions, either don’t last as long or don’t have the available features as compared to the same television that was available to purchase a week before the deal started. Black Friday is an interesting topic to talk about you brought up some really great points about it.
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ReplyDeleteYou are completely right, black friday tends to be a day where people impulsively buy and that can hurt people. I mean the deals are so enticing you can not resist. A lot of the door buster items are sold with no profit margin or even at a loss so you enter the store for those items but leave with buying so much more that the loss is mitigated. This tactic is very effective as black friday tends to be very profitable for stores. But if you play your cards correctly, with a little self restrain you could easily save a lot of money on items that you need/want such as phones and laptops. A similar holiday is found in China called singles day which has surpased black friday sales for most revenue in one day. The difference being that black friday was a holiday created by the retailers while singles day already existed in china and the retailers like alibaba utilized the existing holiday.
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