Popping The “Black Friday” Myth, In All It’s Madness
from Zero Hedge:
And so another urban legend falls, this time of the retail “doorbuster” ploy known as “Black Friday”, whose only goal is to get as many gullible US shoppers into retail stores with promises of massive discounts and unbeatable bargains. As it turns out the promises are completely hollow, based on an analysis by the WSJ, those highly touted Black Friday deals aren’t deals at all, and in fact the bulk of the “discounts” are smaller compared to comparable price cuts throughout the year.
In fact, the only thing that is true about the day that launches Holiday shopping, is that it is a great demonstration of the herd effect in play, where people line up in droves just because other people line up in droves. In the meantime, everyone else has already managed to snag that much desired purchase long ago and at a lower price. Of course, if this key day that anchors the start of the profitable retail shopping season is relegated to the dustbin of urban legendry, then retailers’ already negligible margins will be cut even further, leading to severe adverse economic consequences for a country whose economy is 70% based on consumption, and which is already on the edge as said consumer is largely tapped out and whose credit cards have been maxed out long ago.
2012-10-10 05:40:21
Source: http://sgtreport.com/2012/10/popping-the-black-friday-myth-in-all-its-madness/
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