Find solution
What is a Black Friday shopping?

what do you know what Black Friday shopping Means?

  • Answer:

    Retailers gearing up for Black Friday — the biggest shopping day of the year — have a new challenge: What do you do when every day has become Black Friday? It’s hard to make Black Friday deals stand out when other businesses are offering massive markdowns as high as 80-90 percent off every Friday. Luxury goods that never used to go on sale, now go on sale every day at 12 noon for Gilt members. Until the popularity of these daily deal sites, retailers were able to stomach steep discounts for one day a year during the holiday season, since these amazing bargains were essentially loss-leaders — they got people through the door to shop for regular-priced items after they finished scooping up $99 big-screen TV sets. The deals were so attractive and rare that people lined up in a cold parking lot at 4 a.m. to take part. But it looks like those days are coming to an end. This, like most developments of this nature, can be traced back to psychology. Behavioral economists must be champing at the bit for the chance to measure how people are changing their pricing expectations. Just as expectations of future inflation or future deflation impact our purchasing decisions today, so should expectations of future price cuts. Why crawl out of bed at 3:00 a.m. on Black Friday when you know that better deals are available every day of the holiday shopping season — at least in theory? The problem is particularly acute this year, when consumers have a thinner wallet and a smaller budget. Not to mention, if you were to draw a Venn Diagram of Black Friday shoppers and Internet daily deal shoppers, there would be nearly a complete overlap. One might expect a "race to the bottom" as retailers fall all over themselves to offer progressively larger discounts on goods they can’t afford to discount. Obviously, this scenario would benefit consumers (at least the 99%-ers) in the short term. But does Groupon really want to see retailers take crushing losses on goods offered for sale on its daily deal sites? It’s a safe bet they don’t, since those losses will inevitably come back to bite them as their customer base evaporates. Black Friday has always been about celebrating the irrational, impulse buy for the season’s must-have items. Black Friday was always the one day when it was okay to camp out in front of a big-box retailer in the hopes of getting an unheard-of bargain. The daily deal mentality, though, is eroding this irrationality. With Groupon’s huge IPO looming in the background, 2011 may mark the first year that the irrational expectations of Black Friday are replaced with the rational expectations of a daily deal. Source: http://www.washingtonpost.com/blogs/innovations/post/daily-deals-and-the-demise-of-black-friday/2010/12/20/gIQAOWT68M_blog.html

Librarian50 at Amazon Askville Visit the source

Was this solution helpful to you?

Other answers

Walmart Black Friday 2011: ad kicks off early holiday shopping frenzy Walmart is getting an early start to Black Friday, the biggest shopping day of the year. The discount retail giant released its Black Friday ad Thursday, announcing that this year the store’s doors will open at 10 p.m. on Thanksgiving night for discounts on home items, clothing, and toys. Electronics will go on sale two hours later, at midnight. Related stories Nook Tablet unveiled at half the price of the iPad Best deals from Black Friday 2009 ads: Use your smartphone Black Friday sales start early. Like today. Among the items you can grab at 10 p.m. after your feast: a $67 ping pong table, a slew of DVDs for $1.96 apiece, and a 4-quart Crock-Pot for under $10 (regular price is closer to $25). RELATED: Gap closings: Five stores poised to fill in the Gap Perhaps as surprising as the deals is the timing of the ad for Walmart Black Friday 2011. Last year, Walmart didn’t announce its Black Friday deals until Nov. 22, meaning this year’s revelations are coming a full 12 days earlier than before. But the early Walmart announcement is just the latest in a trend of stores getting an earlier and earlier start to the Black Friday rush: For the first time, Gap, Old Navy, and Banana Republic are opening their stores at midnight on Black Friday, joining Macy's, Kohl's, and Target, which have done it before. “Thanksgiving night openings are much more common now,” says Dan de Grandpre, CEO of http://dealnews.com, a website that tracks sales at large retailers across the country. “Deals are going to be much better at that time. But you have to get up earlier and earlier, or those stores will be picked over.” The hubbub over the early Walmart announcement comes in the wake of projections for a fairly average holiday shopping season. Erik Johnson, an economist with IHS Global Insight, is predicting a 4.2 percent growth in overall holiday sales over last year. “To put this in perspective, 2010 holiday sales were up 5.2 percent and 2009 sales were down 0.4 percent,” Mr. Johnson says in e-mail. Some are predicting more shoppers, however. According to Business News Daily, a recent consumer survey from the digital technology advertising company Social Vibe is projecting a 52 percent increase in the number of Black Friday shoppers from last year. That means longer lines and much bigger crowds, which may be part of the impetus for retailers to extend their hours. But Mr. de Grandpre insists that bigger crowds don’t necessarily mean more buying. “There will be a lot of window shopping,” he said “Participation in Black Friday will go up, but there will be more of a shift from in-store shopping into online shopping. The growth of online shopping has been many times higher than in-store shopping. Johnson agrees. “E-commerce as a percentage of overall retail sales hit an all-time high in the second quarter of 2011, at 4.6 percent,” he says. Online retailers, too, are getting in on the Black Friday earlier than ever: http://Amazon.com has already launched a “Countdown to Black Friday” section of its site, with early discounts on a wide array of products including cameras, TVs, DVDs, and toys. RELATED: Top 9 ways Internet access could save you money According to de Grandpre, however, the pre-sales usually can’t hold a candle to the real thing. “Stores use terms like Black Friday and Cyber Monday to draw in shoppers, but that doesn’t always mean good deals,” he says. “I’d be skeptical of discounts that sound modest, or that have a range.” He uses terms like “up to 30 percent off” as an example. “Just because a store has a big sale doesn’t mean the specific items are all that cheap. Macy’s has a 20 percent off sale basically every Friday. It’s better to look at sp Source: http://www.csmonitor.com/Business/2011/1110/Walmart-Black-Friday-2011-ad-kicks-off-early-holiday-shopping-frenzy

Caspera

Related Q & A:

Just Added Q & A:

Find solution

For every problem there is a solution! Proved by Solucija.

  • Got an issue and looking for advice?

  • Ask Solucija to search every corner of the Web for help.

  • Get workable solutions and helpful tips in a moment.

Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.