Black Friday: Is it Worth Saving?

Black Friday

Strategically located right after Thanksgiving and a few weeks before Christmas, Black Friday provides people with the right sales at the right time. Every year, people rush to the stores late at night to begin their Black Friday shopping. Some people even go to the extent of spending the night outside the store for days before the big sales. Everyone knows about it, even if not everyone participates in it. A day full of savings and spending couldn’t be a bad thing though, right?

Like anything, there are many different opinions on the effect that Black Friday has on our country. In the first few articles that I read, people were all for it. Saying that Black Friday has a, “positive impact on the economy, because it gets people out spending their money.” [via: voices.yahoo.com] Then I read an article that was published byTimes, with the headline, “Black Friday Is Facing Extinction”, that was published on September 26, 2013. That raised the question, how could a day that has become so popular in our culture today disappear, especially if it is so beneficial to our economy? Then I found an answer that made sense. Black Friday is not particularly helpful to our economy. In recent years, people have become meticulous about finding the best deals possible. This has been made easier with the internet at everyone’s fingertips while they are searching to save the most money possible. Because the public has such easy access to this information, it does not benefit retailers to raise their prices above their competitors. Companies are also having to pay more employees to work extra hours to accommodate Black Friday’s hours. Another contributing factor to this theory is the decrease in people actually getting out and shopping on Black Friday. According to the Times article, “44% of consumers were likely to go shopping on Black Friday 2011, down from 52% in 2009”. This could be attributed to people’s lack of desire for braving the crowds. Taking this into consideration, it isn’t terribly unbelievable that the economy does not benefit very much or at all because of Black Friday shopping.

Having established that Black Friday is not economically advantageous to our country, a lot of people are concerned that is detrimental to our society as

Man Killed on Black Friday well. We have all heard horror stories about Black Friday.Like the story in 2008, when a Walmart employee was trampled to death by a crowd of shoppers that broke down the doors to get inside to the sales.

[via:http://www.cbsnews.com/news/man-dies-after-wal-mart-stampede/ ].

Buying gifts for your friends and family should not become survival of the fittest inside department stores. You should not have to physically fight people to get something that will be restocked in a few days. There will always be holiday sales that go on throughout the season. People get so caught up in consumerism that they occasionally lose their humanity, and Black Friday gives them the opportune day to do so. In saying this, maybe it would not be such a bad thing if Black Friday did face extinction.

SOURCES:

http://business.time.com/2013/09/26/black-friday-is-facing-extinction/

http://www.twincities.com/business/ci_24657117/real-world-economics-dont-think-that-black-friday

http://www.huffingtonpost.com/wallace-j-nichols/consumerism-black-friday_b_1117142.html

http://voices.yahoo.com/what-effect-does-black-friday-economy-7164482.html

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