Black Friday is only one week away! It is time to grab your wish list, set up camp, drink some coffee and snatch up deals.
The name stemmed from the Philadelphia Police Department in 1966 because it was the day of traffic jams, shop lifting and high tension. Officers named it this because it was the darkest day of the year.. It wasn’t until years later that department stores would alter the meaning to a more light hearted back ground. Now it’s known as when retailers go from the Red (meaning in debt) to the Black (meaning profit.) Black Friday has evolved over the years to become something of its own holiday of sorts.
Black Friday: Madhouse
In years past there have been many incidents around Black Friday. In 2011 a woman from san Francisco trying to improve her chances of getting cheap Xbox bundles pepper sprayed 20 women, men and children to be first. A few years earlier in 2008 at a Wal-Mart in Long Island, New York a 34 year old worker Jdimytai Damour was trampled when a roughly 2,000 person mob broke through the doors at 5 a.m. In that same instance a 28 year old pregnant woman was pushed to the ground and suffered a miscarriage. It was a madhouse, now retailers have caught onto these mistakes and changed their strategies.
Now, retailers open on Thanksgiving day. This has created a safer shopping experience for all the bargain hunters. Wal-Mart rolled out a new plan last year that had the store open at 8:00pm Thanksgiving day and had certain deals happen at different times to simmer down those easily agitated shoppers. So far this strategy has worked great resulting in less confrontation.
We stand in line to get the best deal for fear of scarcity.
Some may wonder why the lines are so long. What could one be getting that is so important? Consumers may not be getting a life changing item. In many cases it’s just the deal that can make standing in line worth it. The retailer’s focus is on creating a sense of urgency so the customer will rush to the stores and buy, Buy, BUY! They make it well known that these deals are limited time only and will be gone before you know it. This triggers an instinct to buy before it’s gone. The psychology behind stores making their holiday decorations so prominent is to get it stuck in the customers mind so they will purchase more.
One moment all you see is Christmas decorations you may think to yourself “hmm I need more lights for the tree” and the next moment you are checking out with bags of Christmas lights and blow up figures of reindeer for the front yard. This strategy has worked extremely well. In 2011 retailers brought in $52,400,000,000 and in 2012 consumers spent $59,100,000,000, the average for spending was 423.00 in 2012 with 307,000,000 people that went out on this day.
With this holiday season approaching quickly, don’t get too carried away with all the hub-bub and try not to break the bank with spending. Lastly take time to step back and enjoy this Christmas season with your family and loved ones.