Black Friday

Before I began working in the retail industry, I had always thought Black Friday was a bad thing. I had never had it explained, but I had heard about Black Tuesday and the crash of the stock market. It created an idea in me that Black + Day of the Week = National Tragedy. Since switching over to the other side of the consumer/retailer relationship, I have found that many things are backwards and opposite to what I originally thought they were.

In retail black is good, and red is bad. The day after thanksgiving represents (on average) the first day when retail business finally get ‘in the black’ in accounting terms. Roughly a third of a typical retail business’ sales will be generated from the day after Thanksgiving to the day before Christmas. Think about that. One month for 1/3 of sales. Eleven months for the other 2/3. Black Friday is a very important day in retail terms.

Black Friday is also a very important day in shopping terms. Not only does it serve as a bonding experience and time honored tradition for many families across the nation, it is also an incomparable opportunity for early risers to snag sweet deals on otherwise full price items. Department stores and independent mall stores alike will often have door buster and early riser promotions allowing you to get holiday presents and things you’ve had your eye on at sometimes significantly below retail value.

As the day draws closer, I’ve been thinking more and more about Black Friday as it means to me now, and as it used to mean to me before. It’s no secret that a recession/depression is upon us. Many, if not all, of us are tightening belts and cutting down on frivolous spending. The retail industry is holding its breath waiting to see how hard the blow will be. Why am I talking about this? Shoppers who choose to continue the tradition despite the economic climate may find themselves reaping the rewards of a very nervous retail industry. Sales and discounts are almost guaranteed to be better than ever. Companies will be trying to unload inventory that they can no longer guarantee they will sell during what could be a mediocre Christmas rush.

You might have a moment’s remorse about rubbing your hands together in anticipation at the panic driven deals you’ll find on November 28th. Don’t. The retail industry needs you to purchase, and they’re willing to meet you half way to make it worth your while. Take advantage of the opportunity to be on the strong arming side of the supply and demand this holiday.

That’s all I’ve got for you today. For those of you willing to brave the economy and the malls this Black Friday, I wish you happy hunting!