Black Friday devolving, shoppers could soon see “Black Month” in its place
Retailers not waiting for “one day” to slash prices.
PHOENIX (3TV/CBS 5) - We’ve all seen the disturbing scenes of crazed consumers storming into stores as they open on Black Friday. Shoppers sometimes are seen fighting, trying to get that one last item that’s deeply discounted. With every Black Friday that passes however, the madness around that day seems to be fading.
“If you are thinking there will be a huge day for sales, no. Those days are long gone,” Hitendra Chaturvedi told On Your Side. He is an author and marketing expert at Arizona State University. He says that over the years, retailers have recognized that they don’t have to wait for just one day to get consumer’s attention. That’s why you’ve likely been seeing basement-bargain prices starting as early as October.
“Black Friday is not as important anymore because our shopping season has shifted,” Chaturvedi said. “Even in 2021, October is the new November.” He said as many as 60% of consumers started their holiday shopping before Halloween. A lot of that has to do with the convenience of online shopping. To satisfy consumers, retailers routinely mark items down on their websites--a win-win for both sides.
Chaturvedi said it’s possible consumers could see a “Black Month” instead of only a “Black Friday.” “It could be. Absolutely,” he said. “Or it could be many Black Fridays.” Retailers love October through December as they’re likely to make nearly 30% of their revenue during that time. Black Friday may still be around, but it has certainly changed.
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