Thanksgiving Day (which this year falls on Thursday, November 27) traditionally takes place on the fourth Thursday in November, and the Friday afterward has become known as Black Friday (November 28). It’s widely regarded as the start of the Christmas shopping season, and is known for both widespread sales with high discounts, and the history of chaotic and even violent behavior from shoppers trying to grab items on sale no matter what.
Check out our previous article on Black Friday for more information about the history of the day and the origins of its name — which, surprisingly enough, aren’t quite what popular trivia might claim they are.
Despite its reputation, sales on Black Friday aren’t what they were once cracked up to be: many stores don’t even open early anymore, let alone see lines of people camping out all night. Not only are more and more consumers choosing to shop online instead, to the point where Cyber Monday (the following Monday where many online-only discounts are offered) is equally if not more popular, but stores are more likely now to spread sales across November and December rather than focusing on a single day or weekend. The COVID-19 pandemic’s effects on businesses’ inventory practices still linger, meaning that many stores no longer have the excess products required to offer the selection of deals that Black Friday was once known for, and are less likely to entice massive crowds into their buildings.
More concerningly, customers must beware of online scams, and of fake discounts in physical and online stores: too many times, the “great deals” advertised in physical stores aren’t actually saving customers money at all. For instance, businesses may raise prices of desirable items far above their actual market price soon before Black Friday, and then mark them down considerably for the holiday sales, resulting in a “discount” that is only barely below market price. The popular online retail company Amazon has even been hit with lawsuits for “deceptive practices,” including these types of fake discounts.
To ensure that you’re not getting a bad deal, financial experts advise consistently keeping track of desired items’ prices in advance to check whether a Black Friday sale actually is a worthwhile markdown from the original price. And don’t feel pressured to shop on a single day for fear you’ll lose out on a deal: you’ll most likely be able to find similar prices throughout the season.
If you have any questions or concerns, please feel free to contact us anytime at info@gravityintprog.com. Stay safe and healthy, and Happy Thanksgiving!
