Black Friday, the beginning of the 3-day shopping period immediately following Thanksgiving, is the most import retail period of the year in the U.S. Some order flowers, while others order gadgets and devices. Merchants count on record sales during the long weekend to get them “in the black” for the year. As such, incentive programs are prominent in helping to differentiate one merchant from another. The scope and novelty of these programs often determine their success. Black Friday is, to put it simply, too important to leave shopping decisions to chance.
Consumers look forward to low prices and sales incentives on Black Friday because their money lasts longer and they can buy more of the computers and electronics they crave. The sales Black Friday engenders are not only important for consumers, on good years they can boost the U.S. economy. Market research pegs 2010 Black Friday volume at approximately $11.7 billion. Parents love to bestow Black Friday gifts on their children since the kids often cannot afford to shop for big-ticket items themselves. And merchants count on stupendous Black Friday discounts and incentives to stir up long-deferred demand.
Sales incentives such as newspaper coupons can be important for moving merchandise. If you asked consumers what they desired most on Black Friday, computers would probably be near the top of the list. It is quite hard for today’s consumer to function without a computer. For persons planning the purchase of a laptop, Black Friday is a wonderful time to use frequent-flyer miles, while supplies are plentiful. Families lucky enough to already have an up-to-date computer may instead want on Black Friday flat screen TVs or high-end electronics. Driving demand is the fact that quaint cathode ray tube televisions don’t provide high-def pictures, and flat screen TV’s don’t waste a lot of the space available in media rooms.
The primary Black Friday shopping tip for consumers is: to end up with precisely the item you desire, cut out store coupons from local newspapers and arrive at stores at least 24 hours before the sale begins. Take advantage of the incentives stores offer, whether they are easy credit terms, two-for-one promotions, or free delivery and installation. Granted this is right after the annual stomach-stuffing ritual known as Thanksgiving and it is no doubt uncomfortable for consumers to wait around outside, perhaps in bad weather, while noisily digesting 7000 calories of turkey and fixings. But merchants are certain that, on Black Friday, if prices are low enough, they will come.