The term is supposed to bring to mind: huge savings, discount codes, take advantage early before they run out.
50%, 60%, 75% off. 2 for 1. Rebates. Gift with purchase. One day in-store shopping passes.
These tempting invites all sound great and exactly what we would expect on Black Friday, which this year falls on November 27, 2009. It’s a tradition. But does Black Friday offer the very best sales? Around Thanksgiving time (November 26) merchants need to move product in order to make room for next season’s merchandise. But are we really getting the best deal on Black Friday? Or is Black Friday a marketing gimmick to get the consumer in the store?
Speaking from personal experience, I’ve always found the very best sales closer to the Christmas Holiday, not just after Thanksgiving. While the promotional ads are enticing, I’ve found prices to better nearer the holiday.
Savvy shoppers know Black Friday is merely the kick-off for the Christmas and Holiday shopping, but not necessarily the best day for bargains. While the promotional codes, sales etc. all look great this is not the best sale of the year. The closer we get to the holiday, the item we love the cheaper it becomes.
This doesn’t mean Black Friday sales shouldn’t be taken seriously. Early shopping means one avoids the crowds who also waited until the last minute. But I’ve always found that the items on sale in November, are marked down again in December. This makes me think that Black Friday is a “shoppers tease” for the benefit of the retailers.
Retailers need to know what their year-end sales/ profit margins will look like. Black Friday can used to help decide this and also be used as an analytical tool to judge consumer confidence, purchasing power and predict what the season shopping outcome will be.
Don’t get me wrong, Black Friday offers huge savings and the opportunity to buy, wrap and store those gifts early for your loved ones. But I also see Black Friday as a “measuring stick” for year end product/ demand statistics.
Lets just say Black Friday has a double purpose: to excite the consumer into shopping and predict the retail industry potential profit and consumer confidence.
It’s ok, go ahead, have fun shopping on Black Friday. Just keep an eye out for those additional super sales the week before Christmas.