Your Key to Success: Black Friday
The Friday after Thanksgiving marks the day in which heavily discounted prices, traffic jams, and mall-fight extravaganzas begin. It is the start of the Christmas holiday shopping season for consumers, meaning retailers often offer deals of a lifetime to entice shoppers both online and in-store.
Black Friday originates all the way back to 1869 when the crash of the U.S. Gold Market happened due to financial crises. It got its name from the volume of shoppers creating traffic accidents and violence, as well as people calling in sick the day after Thanksgiving to give themselves a four-day weekend. It is simply an event that helps retailers move from red to black, in terms of financial success, before the end of the year.
According to NRF (National Retail Federation), more than 164 million consumers plan to shop over the five-day Thanksgiving weekend. Although 21% plan to shop Thanksgiving day, Black Friday remains the busiest day of the weekend, with 71% planning to shop that day. Matthew Shay, president and CEO of NRF states, “Whether it’s heading to the stores after finishing their turkey or going online on Cyber Monday, consumers will be shopping all weekend and retailers will be ready to meet the demand.” [sic].
Black Friday is no longer limited to Friday. A number of retailers open their doors and online workshops to customers as early as the afternoon of Thanksgiving. Roughly 20 stores and outlets in our area will start their sales on Thursday evening or at midnight. It is said that the average Black Friday shopper plans to spend $472.00 on goods, while online sales hit $5.03 billion.
Some of the most popular stores when it comes to Black Friday shopping are Macy’s, J.C. Penney, Target, Kohl’s and Walmart. These stores are visited more because shoppers can purchase clothing, shoes, jewelry, home decor, kitchenware, cosmetics, and more.
Although 50% off sounds like a good idea, there are still some things to watch out for. Check the model number for example; they may boast the same brand, but not all electronics are created equally. Other things to keep in mind are reviewing price histories, using a new browser, reading return policies, shopping with discounted gift cards, don’t forget about travel to the locations, and act fast when there is a great deal.