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The Death of an Empire
Another Thanksgiving gone, another Black Friday has passed.
Not too long ago Black Friday was a time when shoppers could get the best deals of the year. TVs, game consoles, and many other items were flying off shelves faster than your grandmother’s apple pie. This year black friday sales haven’t been successful as previous years.
Why is that?
There are many. A lot of people, including myself, would rather wait and do all of our shopping on Cyber Monday. It’s easier, more convenient, and you don’t have to end Thanksgiving Dinner early to go stand in the cold. Other factors have contributed to the decline of Black Friday as well. Many stores started their sales weeks before and even extended them. People are finally realizing that Black Friday is nothing more than hype now. After seeing post on social media over the years of fights and other disorderly instances happening in stores, people would rather stay at home and shop later. Throw in the fact that many people are starting to realize people actually have to work on Thanksgiving just so they can save on a few items probably isn’t the best way to build karma.
I say all that to say this:
Black Friday is dying.
When Black Friday was all the rave there was one key component to its success. People can get a great deal but the window was small and the supply was minimal. I wasn’t too big on economics but I do know that the smaller the supply the more demand there is for it. If Target only has 25 TVs for a low price then the demand (people showing up to buy) will increase. By starting sales early and keeping them throughout the holidays lessens the need to stand in line late Thursday night. People can buy the same TV online or go to the store when they have the time.
Who knows, Black Friday may one day become obsolete.
As always, thanks for reading.