The well-known date, Black Friday originated in Philadelphia around the 19th century. This escalated when two brokers predicted that by purchasing the most stocks of gold there would be a demand for it afterward. However, this led to a crush on the stock market at large. With time, around the mid-20th century, the law enforcers used the term to describe violence and commotion brought about by the day when there was a football match. Alternatively, nowadays it is well known as a profitable day for merchants soon after the Thanksgiving holiday. Hence, it is commonly associated with promotional discounts, massive coupon code usage, and large sums of profit. The driving forces enlisted below buying things at “affordable prices”, are some of the reasons why people do crazy shopping every Black Friday.
- The desire to bargain more for less – Most customers do not want to be taken advantage of by retailers. They maximise opportunities to the last quarter at their disposal. As such, discounts of more than 50 percent or more make them greedy for things they don’t need. Eventually, people pay much attention to the promo codes and bonus points they utilized in order to get a certain product rather than the value for the product to the user. It becomes a competition of who saved the most during the day than others.
- Limited time offers – Marketed products that have a discount valid for less than 24 hours, are motives for consumers to chase after. Customers do not want to regret purchasing a good deal after the time span elapse. Since the deal will be time-bound limited, it does not give consumers the leverage to think it over. Such an approach influences the customers to buy things out of the pressure of not wanting to feel “anticipated regret.”
- Friendly competition – Each time your friend has to tell you how much they saved during Black Friday it aches your heart that it could have been you. As a result of such friends, people save up a fortune to buy on an actual day. Such a friendly competition of gives a sense of pride in being the most resourceful. By so doing, many want to improve their reputation in being known as the one with the latest trending technology, cosmetics, and apparel. Such a Friday elevates the dreams to come to fruition.
- Impulse buying – Having spent Thanksgiving Day with family, most people are depressed after the toxic experience with their families. As such, people engage in buying things they do not need to quench their depression and sadness. The need to purchase stuff gives them a happy mood. Hence, they buy it because it is cheap and it distracts them from the actual causes of low self-esteem. By so doing, it builds momentum to spend unsparingly.
- It caters to all – Straight after a good old Thanksgiving dinner, grandparents can get their hammocks and knitting tools. While the adults worry about car spare parts and baking mittens. Nonetheless, the youngest generations still get their electronic devices and games at very affordable prices in the same departmental stores. The beauty of shopping together with very favourable prices becomes priceless to all.
For any reason why people utilize Black Friday, the main hidden agenda comes down to optimising the gross domestic product of a country. Websites like Refermate can come in handy when you want to optimise spending less for more. This day is now a memorable one to generate profit to the retailers while offering cheap products to the consumer.