Olivia Forester
In today’s shopping environment, a combination of inflation, consumer pressures, and a growing eco-conscious culture has continued to impact sales on Black Friday over the years. Customers are growing concerned about companies' intentions or so-called “spending traps.”
It may be surprising, but deals themselves have not significantly changed throughout the past couple of years. What has changed, however, are the prices of the products leading up to this well known shopping event. According to USA Today, there has been an average price increase of 20.5% the week before Black Friday. CNBC also echoes this sentiment by stating that “35% of items at major retailers offered no savings compared with their pre-Black Friday prices”. With this trend ringing true across many sectors of shops, the show-stopping deals are not as impressive. Additionally, the exclusivity of deals merely existing on the day of Black Friday or Cyber Monday are decreasing as well. Many retailers now spread their promotions across days or weeks rather than focusing solely on Black Friday. PYMNTS reports that nearly 41% of shoppers experience deal fatigue, with the constant barrage of sales events making them feel less meaningful and exclusive. These deceptive pricing tactics, which are growing in popularity, undermine consumer trust and create perceived risks of financial loss.
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Marketing surrounding Black Friday is predatory, creating an environment filled with urgency and compelling consumers to make impulsive purchasing decisions. Companies utilize countdown clocks and limited-time offers to amplify consumers’ fears of missing out. This drives people to purchase items they do not need or desire which yields overspending in most scenarios. Good Housekeeping shares that nearly half of shoppers regret their Black Friday purchases after the fact. Discounts coupled with urgency and popularity can overwhelm rational decision making and foster an atmosphere of rapid consumerism and buyer’s remorse. The pressure to shop during Black Friday can negatively affect mental health. The bombardment of advertisements via emails, texts, and social media messages can overwhelm consumers, making them feel compelled to spend even when they might not want to. This rush and stress associated with the day can lead to feelings of anxiety and dissatisfaction. The combination of many psychological strategies effectively manipulate customers to buy quickly with little thought, furthering skepticism of retailers and apprehension of Black Friday as a whole.
Black Friday has received a lot of attention due to its detrimental effects on the environment, specifically from excessive consumption and waste. CleanHub reports that “US consumers are spending roughly $9.8 billion on lucrative deals during the discount-filled weekend in 2022”. This clear indication of a surge in consumer engagement encourages a disposable mentality, where shoppers buy new products instead of repairing or finishing existing ones; adding to a cycle of overconsumption. Fast fashion is also a big contributor to this narrative, characterized by rapid production, frequent trend turnover, and low-cost items. This results in textile waste accumulating in landfills, highlighting the critical need for sustainable alternatives and initiatives to address the issue. The negative impact of Black Friday can be explained by the significant increase in carbon emissions associated with shipping and transporting the vast quantities of goods being purchased, each transaction contributing to a larger carbon footprint due to the logistics from manufacturing to delivery. As it worsens, the environmental toll is becoming increasingly hard to ignore as awareness of sustainability grows.
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While Black Friday remains a widely anticipated shopping event, its true value has become increasingly questionable as time goes on. The illusion of massive savings, supported by misleading pricing practices and manufactured urgency, has destroyed consumer trust and has increased mental and financial stress. Beyond the personal financial and emotional impact, the earth has also suffered negative implications. As consumers continue to become more aware of these issues, there is a growing demand from customers for retailer transparency and sustainability. The “unbeatable deals and savings” is increasingly at odds with the realities of modern consumption and its broader societal costs. It is clear that Black Friday, although relentlessly glamourized, is preparing itself for a shift in its shopping culture.
Sources
https://www.bigblue.co/blog/the-pros-and-cons-of-black-friday-and-cyber-monday
https://www.usatoday.com/story/money/2024/11/27/black-friday-deals-no-bargain-study/76577444007/#
https://www.pymnts.com/consumer-insights/2024/retailers-take-note-consumers-say-there-are-too-many-deals/#:~:text=The%20PYMNTS%20Intelligence%20report,less%20special.&text=Financial%20Lifestyle%20Drives%20Consumers%E2%80%99,less%20special.&text=consumers%20said%20they%20feel,less%20special.&text=promotions.%20Forty%2Done%20percent%20said,less%20special.
https://www.goodhousekeeping.com/life/money/a62841844/black-friday-cyber-monday-mistakes/#
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