11/25/2005

Merchants are happy with Black Friday Turnout!

As Black Friday 2005 is drawing to a close, I read an article on the subject, and have been reflecting on this day of shopping madness. While I am not one of those diehards who camped out, or woke up at 3am to get a deal, I have truly benefitted from this year's Black Friday's promotions. I didn't get to stores until about 8am, but the stores I went to, Wal-Mart, and Target, were bustling with bargain-hungry shoppers and long lines, and apparently from this crowd article, my experience was not unique. In fact, many of the representatives from companies listed in the article expressed that they experienced more shoppers this Black Friday, than in years past, which signals to me, that our economy is relatively stable. While store demand definitely increases in the wake of huge discounts, and promotions, it is still reassuring to see people out in masses spending money, despite all the recent natural disasters, and hikes in energy costs, etc.

3 comments:

Chloe said...

It is good to see people out shopping and spending money. I also thing Black Friday is a great example of how different consumers behave different ways. My sister is one of those that wake up at 3 am to catch all the sales, and she considers it totally worth it. But unless it is an outrageous deal, I'd rather spend that time sleeping and doing other things and go shopping later with fewer crowds at the expense of paying a couple more dollars.

Bree said...

I worked in retail for a couple years and we always had huge preparations for black friday. Our projected sales would be huge! We would even hire on alot more employees that would soon be laid off thereafter. I thought this year would be a little calmer, I didn't even step foot out of my house that day. It's great for the economy to have those dedicated bargain shoppers but I'd rather stay far away from the crowded scene.

Dr. Tufte said...

-1 on Morgan's post for poor grammar.

-1 on Bree's comment for poor capitalization.

This is proof positive that price elasticity is an important tool for managers. Black Friday is all about putting price elastic goods on sale, and locating complements nearby - thus your revenue on both goes up.