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Shannon Danner 335986651 Assignment #4 Black Friday Analysis Black Friday is the following Thanksgiving Day in the United States, traditionally the beginning of the Christmas shopping season. Black Friday is not an official holiday, but many workers have the day off as part of the Thanksgiving holiday, this increases the number of potential shoppers. Retailers often decorate for the Christmas and holiday season weeks beforehand. Many retailers open extremely early, with most of the retailers typically opening at 5 A. M. or even earlier.
Retailers use Black Friday to kick off the holiday season to use much of their products to go from the red to the black. Department stores and outlet malls slash their prices considerably to give consumer great deals. Not only do most Americans spend countless dollars on this day, but most are so drawn to the desire to make a purchase that the facade that a discount justifies a purchase only takes the issue one step further; and that is waiting outside for hours in the dark, freezing cold. Black Friday has become so blown up that people actually skip Thanksgiving to wait in front of the department store.
Stores open extra early and people bulldoze their way in, pushing and shoving like ravages to get what they want. On the popular holiday for consumers, the Black Friday outraged the numbers of consumers buying products and the number of cheap deals within the markets. On the past Black Friday, customers were waiting outside for hours before Wal-Mart opened. Customers had in mind that the wait would be worth it, since the process are of great deal, and process good as such could be considered as one of a year time. By midnight, the mall’s parking lot was at full capacity.
Black Friday has become almost a competitive sport with others, hoping to get the hot items of the season at bargain basement prices. Customers are smart and patient enough to wait and know when is the right time on buying that certain product at its lowest price. But customers are not the only ones who take advantage from the law of demand. The market also takes advantage on this holiday, even though the income from each product is a little bit less than the regular price, they tend to sell many products more than the regular business days. The market can also take advantage and sell products in which were not sold in the previous season.
Black Friday is also good for advertising products. There were quite a few stores in the mall that were handing samples to try their product. The point of sale assessment depends on the consumer’s perceived shopping motives. Shopping motivation represents a fairly mature reach of research. Many retailers consider smart shopping comprises high sensitivity on process. Smart shoppers are always keen on getting a discount. Shopping on Black Friday is the consumer’s motivation. It gives them the excitement of the game. (look for competitive) Its part of the mystique, shoppers can celebrate their ability to get the best deals.
Most people go into the store with the attention for buying for others for Christmas, but instead of holiday gift giving, most consumers buy for personal or family use. Most people shop in groups with their families and friends since everyone is home for the holidays. The more people you have with you, the better your chances are to get the bargains. Friends and family are the main influencers on gift-buying. As for how people track down bargains and sales on holiday purchases on deals comes from numerous resources such as newspaper ads, commercials on T. V. s and radios, email promotions and coupon websites. More people are turning to technology as a way to find shopping deals through smartphone apps or Facebook. The average consumer this year spent around $400. 00 directly towards clothes and electronics. My opinion of Black Friday is that it is the worst shopping day of the year, because the day is just very chaotic and unbearable and unbearable in my point of view, You campout in line at a store for hours to save only a couple hundred of dollars. Black Friday gets intense when people are trampled on, pepper sprayed, or when there’s gun shots fired.
It’s repulsive because Thanksgiving is supposed to be a family holiday. Some employees can’t even enjoy Thanksgiving with their families because they have to work that day. There is cyber Monday, which allows you to get great deals as well without the work and the madness. I did get most of my Christmas shopping done for my family, but I didn’t save al that much money. I walked past stores that had an entire purchase of 60% off deal. The gift that I know my family wanted were not in these particular stores. At most I saved 20% on one purchase. Other places I shopped had literally no sales whatsoever.