Crowd in a shopping mall

Black Friday – A Good Day for Sellers, But Is It Really Good for You?

Black Friday has finally come! Although it’s not a national holiday, many people look forward to shopping then. Special offers, deals, and sales are everywhere and you can find a ton of advice on how/where/what to shop, and tips and tricks on how to be “the winner of the day”. But do you really need to buy something just because it’s Black Friday?

Why do we call it Black Friday?

Black Friday, falling on the day after the Thanksgiving holiday, is one of the busiest shopping days of the year. Originally, the term marked the day when a retailer had sold enough inventory and turned a profit for that year. So Black Friday refers to the day of the year when retailers hope to go from being in the “red” (i.e. losing money) to being in the “black” (i.e. making money).

Drawing $ in a notebook

How does Black Friday look today?

These days, since it’s one of the busiest shopping days of the year, Black Friday is known for long lines, packed stores, aggressive customers, and a limited number of products available at a reduced price.

Black Friday sellers

Retailers use discounts to draw consumers into their stores and will aggressively campaign by offering incentives like gift cards and other small enticements. Many of them will offer limited-quantity sales to bring customers through their doors [1].

Black Friday shoppers

Whether people are searching in malls, department stores, specialty stores, or online, the sales on Black Friday are very effective at encouraging them to shop. Some people spend hours and even days preparing for Black Friday, scouring newspaper, internet, and television ads for the best Black Friday deals. Then groups and families strategically plan the best routes to their favorite stores, collect stacks of Black Friday ads and coupons, and coordinate strategies for purchasing products once inside the store [1, 5].

Why do people love to shop on Black Friday?

Hundreds of consumers crowding in to grab marked-down goods create a sense of competition, which in turn creates hedonistic shopping value – enjoyment from the mere process of buying things. We love to share stories and show off our bargains at the end of the day, boasting about the great deals we found and how we managed to get hold of that last popular item. Paying a low price for something makes us feel smart and pleased with ourselves. We have a sense of accomplishment and perhaps the thrill of feeling in a small way victorious over other customers [1, 4].

Happy girl sitting in a shopping cart

Frustration and aggression

The Black Friday experience can have a bonding effect [3]. However, sometimes the limited availability of goods in stores can excite those who view this as a form of competition. If someone gets in their way when they’re trying to reach an item they want, they might feel frustrated, which can devolve into an aggressive response towards the person blocking their way [1, 2, 3]. This aggressiveness can be dangerous!

Buy Nothing Day

Now, we have frustration and safety concerns on the one hand and pleasant emotions on the other, so what are we going to do? Before you answer this question, read about Buy Nothing Day – the anti-Black Friday movement that falls on the same day as Black Friday.
The aim of this day is to inspire worldwide action against mass consumerism and rediscover how to live freely. It tries to show us that we need to take a harder look at the stuff we’re purchasing on Black Friday and decide whether we really need all of it. Also, it points out the irony of giving thanks for everything we already have one day and going out to buy more things (we don’t really need) the next one. Lots of people use social media to post about this movement, so explore a bit – you may find many enlightening facts.

Trying to buy something that’s on sale but really isn’t discounted or is in limited quantity can be disappointing, for sure. However, these holiday sales can actually have an upside. Everyone is now expected to offer discounts as a goodwill gesture and not every retailer uses tricks to attract customers. You still can find things that you need or want and pay a better price for them. Just be discerning, purchase worthwhile items, and don’t get caught up in the consumerism!

 

We know that the holidays can be tough and stressful for some people. If you are experiencing “the holiday blues”, feeling stressed out or you simply need to talk to someone, don’t hesitate to book a free consultation call with one of our Coaches. They are always there for you!

 

References:

[1] Byun, S., & Mann, M. (2011). The Influence of Others. Clothing and Textiles Research Journal,29(4), 284-297. doi:10.1177/0887302×11422820
[2] Berkowitz, L. (1989). Frustration-aggression hypothesis: Examination and reformation. Psychological Bulletin, 106, 59-73.
[3] Dill, J. C., & Anderson, C. A. (1995). Effects of frustration justification on hostile aggression. Aggressive Behavior,21(5), 359-369. doi:10.1002/1098-2337(1995)21:53.0.co;2-6
[4] Holbrook, M. B., Chestnut, R. W., Oliva, T. A., & Greenleaf, E. A. (1984). Play as a consumption experience: The roles of emotions, performance, and personality in the enjoyment of games. Journal of consumer research, 11(2), 728-739.
[5] Thomas, J. B., & Peters, C. (2011). An exploratory investigation of Black Friday consumption rituals. International Journal of Retail & Distribution Management,39(7), 522-537. doi:10.1108/09590551111144905

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