Clarissa Johal: Frightening Friday-10 Facts About Black Friday

Friday, November 28, 2014

Frightening Friday-10 Facts About Black Friday

Black Friday. Words that strike terror into any sane person's heart. Aside from the ridiculousness of giving thanks one day and then overdosing in materialism the next, Black Friday has a reputation of being downright dangerous for shoppers.

Retailers traditionally operate at a financial loss or "in the red" from January through November. Black Friday indicates the point at which retailers begin to turn a profit, or  operate "in the black."

Here are 10 interesting facts about Black Friday.

1) It is estimated that 55% of Americans plan to skip the crowds on Black Friday and spend it at home.

2) Many Black Friday shoppers confess to shopping on very little sleep (36%), or under the influence of alcohol (12%). It that's not a good reason to stay off the roads, I don't know what is.

3) More "deals" are found online than in the stores.

4) Many products advertised as deep-discounts on Black Friday are “derivative products” — items that are similar to the standard model, but made with cheaper components and may not have the same features.

5) Some products during the last few days of the holiday shopping season sell for 10-15% less than they do on Black Friday

6) Many Black Friday doorbusters are either matched or beaten later in the season.

7) In the past several years, retailers have been caught jacking up prices before Black Friday, then lowering them with supposed "discounts" that leave the price higher than it was before.

8) Black Friday also gave birth to "Buy Nothing Day" by social activists against consumerism. It was promoted by Canadian magazine Adbusters to mark a day to examine the issue of over-consumption. When they tried to spread the trend in America, Adbusters was denied advertising time by all television networks except CNN. 

9) Up to 70% of in-store Black Friday deals are also available online for the same price or less.

10) Amazon will price match even the hottest in-store offers from retailers like Best Buy, Target, and Walmart.

Enjoy your day — however you plan to "spend" it. 

No comments: