The student news site of Whitney Young Magnet High School in Chicago, Illinois.

BEACON

The student news site of Whitney Young Magnet High School in Chicago, Illinois.

BEACON

The student news site of Whitney Young Magnet High School in Chicago, Illinois.

BEACON

Purchasing Pressure this Valentine’s day: How much should you really spend?
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What Happened to Black Friday?

On the day after Thanksgiving, hundreds of thousands of US shoppers come together to celebrate the real holiday: Black Friday. While some might say it promotes overconsumption, I say it’s a great way to support the economy while finding very necessary additions to my closet. However, many Americans argue that the culture of Black Friday has died as the lines of campers outside outlets are being replaced by online shoppers in their beds. 

So what is the reason for this change? Well, a large part of the transformation can be attributed to rising prices. The Bureau of Labor Statistics found that prices rose 7.7 percent in October 2023 compared to 2022. A professor of marketing at the University of Maryland, Jie Zhang says, “there isn’t as much enthusiasm to open up wallets coming into this holiday shopping season.” Companies are trying to keep up with the struggle of staying afloat while demand is getting shorter due to how families are prioritizing and struggling to keep up with the rising prices of essentials, like gas and food. These combined factors provide an explanation as to why companies have treated Black Friday like a weekly occasion; a way to  entice customers looking to save money by promoting early demand. With that, I’m going to assume the promotional emails and flashing graphics are tactics to raise customer awareness of deals and persuade customers to buy early, out of concern of missing out.

As a kid, I enjoyed watching people fighting over flat screen TVs that were 80% off or the last Bath and Body Works Candy Apple scented candle. Nowadays, the most you can get is 40% off or BOGO deals, but I’ll take what I can get. Black Friday for me is just an excuse to spend money, and add any exciting unbought items to my Christmas list, so I’m not too phased by the diminishing deals, but it was disappointing this year. Regardless, I wish any shopaholics, like me, good luck in their future endeavors on this momentous occasion and everyone a happy holiday. Let’s get to Christmas shopping!

 

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