A Not So Crazy Black Friday
Every year thousands of people line up the day after thanksgiving to try and get a great deal on various merchandise. This day has become known as "Black Friday". Year after year people go out the night after eating their turkey dinner and stand in lines to save a few bucks. I will admit that I have succumbed to the urge a few years and have been found among the heard searching for good deals. Most people go out to purchase Christmas gifts for their families and friends and end up buying a bunch of other stuff that they don't really need. Every year the crowds get bigger and the deals get better. You would think that with a struggling economy it would force more and more people out into these massive crowds on black Friday to be able to afford the Christmas gifts that their children or spouses desperately want, however this year it was different. According to the NY Times article Gloomy Numbers for Holiday Shopping's Big Weekend, sales were down $1.7 billion from last year. There could be many different reasons for the decline in sales including more online shopping, earlier sales, low wages and economic difficulties, spacing out Christmas shopping expenses, etc. It would make sense that people can no longer afford to drop hundreds of dollars all at once on gifts for the holidays so they spread it out instead. We can see that as inflation continues to rise and wages stay stagnant that it become increasingly difficult for people to partake in the Black Friday nonsense. I could be that none of this has anything to do with economics and that people are just wising up and realizing that its worth spending an extra 30 dollars for a toy than spending all night sitting in a store witnessing grown adults fight and bicker over petty little gifts just to save a buck.