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Over time, the term Black Friday has held different meanings. But it has always been attached to economics. At first, it connoted calamity, even doom. But in recent years, it has come to possess more optimism: it's the day after Thanksgiving when retailers hope to make enough sales to put themselves "into the black ink" — or profitable for the year.
Downtown retailers, online stores, and malls all compete to attract shoppers to their goods and services in hopes of kicking off to a good start what is arguably the most important sales season. For big box stores, this year's most sought-after items are HD televisions, and some stores are offering them for as low as $98. Such bargains lure people out late at night to get doorbuster deals just hours after finishing a Thanksgiving meal. But this year, data suggests growing consumer apathy toward Black Friday, indicating a shift in the way we shop.
Two years ago we checked in on consumer confidence in the midst of the recession. Now that it's been declared officially over, we're checking in to see how — if at all — things have really changed.
If you're a retailer, what does Black Friday mean to you this year? If you're a consumer, what are your plans for this holiday shopping season?
Editor's Note: This conversation will be pre-recorded before Thanksgiving. That means we will not be taking calls during the broadcast, but if you post before Monday the 22nd at noon we'll try to bring your comments into the conversation. And we encourage this conversation about Black Friday to continue, robustly, online. Thank you!
GUESTS:
- Kris Gello: President of the McMinnville Downtown Association
- Sandra McDonough: President and CEO of the Portland Business Alliance
- Kim Upham: Participates in "Buy Nothing Day"
- Rebeca Lurie: Owner of Kush Hand-Knotted Carpets
- Ranger Kidwell-Ross: President of Socioeconomics, Inc.
Tagged as: consumerism · holiday · recession
Photo credit: mysza831 / Creative Commons
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Too funny Penny>. blame the recession on Boehner. Penny the elction of 3 weeks ago was a "HELL NO" to democrat policies. Seems by the election results that the people approve of the GOP saying "HELL NO" to the economy wrecking policies of Obama and the libs. May I remind you that democrats had control of the congress, the $800 billion stimulus bill was a big flop. YOU just keep that purse closed tight >.
SNAP SNAP
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Perhaps Vitalpac does not remember the Republican'ts driving the economy into the ditch before they got out and fumbled the keys into the hands of the Democrats.
Perhaps Vitalpac does not remember the numerous times the Republican'ts used Filibusters and the threat of Filibusters, not to mention the withholding of Unanimous Consent to disrupt and dismantle the efforts of the Democrats to get the car that is our national economy out of the ditch.
Perhaps Vitalpac has forgotten that the Bank Bail-out began under his beloved President George W. Bush (undoubtedly a puppet of Dick Cheney's).
It has been 21 days since the Republican Takeover of the House; Mr Boehner, where are the jobs?
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OH penny >. the GOP is not in control of the house .. newly elected members have not been sworn in >. but you knew that. Oh and Penny the American people just fired a boat load of democrats>> but u know that too!!!
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Over? Good god, the Tea Party put the robbers back in charge of the US House of Representatives and what, six state governorships?
It's like Charlie Brown trusting Lucy again to hold the football for him, when are the ever trustful Charlie Browns going to learn that the Tea Party Republican "Lucies" are still lying and always have lied to them?
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Most people capitolize the word "God" when used in that context >. but you were probably educated by the NEA in Oregon. Net gain of geovernorships was nine for the GOP, many in swing states.
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Capitalizing "god" indicates respect, so I purposely did not capitalize the word.
I was educated by the U. S. Air Force on many different U. S. Air Force Bases while growing up. So you can address your "beef" about education to the U. S. Air Force.
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Maybe Vitalpac was absent the day they taught spelling and grammar...perhaps his beef should be with himself.
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As an outdoor equipment retailer Black Friday wasn't as critical as June, July and August in which the business earned 80% of its revenue. The business was also dependent on customers spending discretionary income.
As a retailer I learned how much goods are marked up to create profit and cash for business operation and expansion. I consider retail ruefully when I wear my customer's hat.
I tend to shop - NEVER! I fail to participate in the Christmas gift-buying materialistic orgy of conspicuous guilt. Thoughtful people are compassionate and generous 31,556,926 seconds a year rather than one or two days. I'm not thoughtful but I do imagine starving our current system until it changes into something better for the majority of us.
While the recession may be technically over, four or five people cruise my street during early morning hours searching for refundable bottles in curbed recycling bins.
People with signs ask for money at nearly every busy intersection or freeway ramp in Portland.
The dispossessed and indigent lurk about grocery store entrances and ask customers for money.
Folk still lose their homes and jobs faster than they can reliably replace them. Job creation is a figment of political speech at this point.
The real cost of goods and services increases while wages effectively decrease.
I'm not in the black this year, nor in many of the years of this first decade of the 21st century, so this episode of TOL should be fun to listen to and to swear at. Carry forth heartily!
Bless you and your people. Live strong and prosper. Help those around you. Rise above the lunacy too evident in the news.
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Politics aside... No thanks to BF. My goal this year is to see if I can complete 100% of my holiday shopping online.
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More than any other holiday, Thanksgiving is about National Synchornicity. We all have a 4 day weekend and the agenda is pretty predictable and constant.
It is one of the few non religious holidays honored by all: Christians, Buddhist, Jews, Atheist and even Muslims.
We eat the same identical meal of Turkey, dressing, brown gravy, mashed potatoes, green beans and pumpkin pie--at the same time.
With televison and certain timed commercial breaks, the Water Department even notes we all go to the bathroom and flush at the same time.
The day before, we all go to the airport or train station or hop in car for a long drive: The busiest travel day of the year.
On Thanksgiving Day, we are all busy in the kitchens roasting a bird at 375 degrees. Opening cans of yams with marshmallows, cranberry sauce and Campbell's Cream of Mushroom soup. BPA knows load peaks.
We watch football and maybe play a game of touch football during halftime. But we definitely watch a LOT of TV including Macy's Parade. We all sit down simultaneously in a big family gathering, multiplied by millions of tables. And we all argue and say the wrong things and attempt to patch things over.
We all get drowsy from overeating and then stuff in more pumpkin pie and dressing. And we all vow to lose weight when the holidays are over in January.
On Friday, we all get cabin fever and a little weary of our dysnfunctional relations, and then simultaneously head to the Shopping Mall. People have died from stampeding shoppers seeking a DVD player. We complain about the parking, admire the Xmas decor and visit Santa's phony cottage. We eat our turkey sandwiches and drink a Frappachino.
On Saturday, there is college football. The DUCKS ARE NUMBER ONE! These are the critical games that set up the final BCS and Bowl participants.
On Sunday there is PRO Football.
On Monday, hard diligent American workers show up for work, log in and go shopping online --on company time! The newest tech contribution: Cyber Monday. Many retail servers crash from the volume.
It is the most regimented holiday. Americans are put through paces more confining than PFC Gomer Pyle in the the USMC. And even if it involves family, it also involves a lot of Consumerism and Materialism. And even independent thinkers on this blog should bristle at the robotic behaviors.
5 days with a predictable itinerary and 5 lb weight gain. And a $500 dent in your credit. Black Friday is only part of the story.
Traditions vs Kabuki Rituals vs Robot Gestures. Maybe we need a National Do-What-You-Want Holiday?
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Actually, THREE of the TOP FOUR ranked teams in the BCS Poll are playing on (Black) Friday, and that includes our #1-Ranked, Undefeated OREGON DUCKS!
And, yeah, I guess there are some other games on Saturday, as well as a few "traditional" games on Thanksgiving...the Dallas Cowboys and the Detroit Lions are both playing (but not each other) on Thanksgiving, if I recall correctly.
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I think Oregon spends much too much on football >. those poor black athletes are just used; for the most part ; they learn nothing in college. SHAMEFUL!!! in a progressive state as thi, it just blows my mind.
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You know something, Vitalpac, you've FINALLY said something that I can agree with -- The University of NIKE does spend too much on football, basketball, and other intercollegiate athletics! My understanding of a mission of a University is EDUCATION, not just to be a "Life support system for a sports team."
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I just want to point out that a gift certificate that doesn't expire, and is welcome anywhere, is a twenty dollar bill, or any other denomination.
I have had too many gift certificates that were not honored at a specific place because they expired before I got around to spending them and so the money that my friends spent was essentially robbed from them and me. The store made 100% profit without providing any product or service and that is one definition of "stealing".
Please don't buy gift cards and let yourself be ripped off. If you want to specify where you'd like the money spent, put a note in the envelope with the cash or check.
And I suggest that any parent teach their child to save at least ten percent of any money they receive either as a present or earned by their work. Please start 'em early, so by the time they're adults, they don't get caught without any savings like so many people have done recently.
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Actually, in the last couple of years, Tom, many (if not all) states have passed laws protecting the purchasers and recipients of Gift Cards from just such diminishing practices, both the bleed-off of value for "account maintenance fees" (why were these even justified -- the value is stored in the magnetic stripe on the back) and the "expiration horizon" of gift cards (why? it is an almost-guaranteed sale at any one of the issuing merchant's locations).
I know personally, for example, that Barnes & Noble, Target, WalMart, and Fred Meyer's/Krogers all protect the value, as does Starbucks, especially if you Register your card (Starbucks only). The program at Starbucks also allows consumers to earn "stars" toward various perks (no pun intended) as free syrup in drinks or free soy milk in lieu of dairy, not to mention a free drink when your birthday rolls around.
(No, I'm not a spokesperson or shill for any merchant -- I am STILL looking for a job and having no luck!)
P.S. I do agree with teaching children right from the start to put away 10% of any income ('pre-tax') -- including birthday money -- into some sort of rainy day fund.
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Thanks for updating me about those cards, Penny.
There used to be a certain amount of drama and thrill about saving up to buy something. Of course products did not change so fast back in the good and bad old days, so a kid might have to save for a year to get some desired object.
Now the world is upside down, to borrow a Friedman metaphor, and now anyone can buy something on credit and do their saving up after the purchase, with the added burden of being on the interest rate hook, so that the real price of the item is considerable higher than it would have been in the days without credit.
And I wish you a good job and soon.
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Black friday a popular label attached to the Friday following Thanksgiving Day in the US. This day marks the beginning of the busy shopping season during which most consumers typically start their Christmas/holiday shopping.
Groupon clone
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It also marks the day when many retailers go from having a Net Operating Loss (NOL) to having a Net Operating Gain (NOG) for the year, thus the term "Black Friday."
Of course, there were other "Black" days in the past...October 29, 1929, for example, and another one in October (?) 1987 when the stock market took a tumble, but these days when someone says "Black Friday" it is widely understood to be the Friday of Thanksgiving Weekend.
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@ nethacka - blatant link drop.
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Indeed...it was gratuitous, wasn't it?
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Pretty bad. I'm an online (and now brick and mortar) retailer myself, but I won't be dropping links. Just interested in the topic.
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It will be interesting to see if the proponents of "we are in a recovery" have sold their pipe dream to the rather large segment of the population that has yet to see anything but this ever deepening depression.
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To stimulate 'our' economy, the shopper can help rather easily.
Pick up the thing you want and if it says "Made in China" put it back down and keep looking until you find "Made in the USA". The sad fact is you will find damn little, but you will be "Shopping" rather then "Mindlessly Buying Junk" that is unnecessary.
Then on the way out let the store owner/management know you are leaving their store without "China Inc. junk" then drop the amount that you had budgeted and did not spend into the kettle outside the door (or charity of your choice) and hand write a note to the people that you did not buy for telling them the gift to charity you gave in their honor.Maybe in 30 years you will find "Made in the USA" in the stores again.
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Seeing "Made in Oregon" on products would be a good thing, too! Maybe if companies like NIKE were to bring their production back home, they might be able to attract people who are declining to purchase their over-priced products because they are made overseas.
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Way to plagiarize, egipt! You've skillfully (NOT!) copied and pasted a whole paragraph from a previous comment of mine and claimed authorship yourself!
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Penny, that is a spammer technique. Look at the link provided in the post and you'll realize that they are not replying to you but spamming a URL here to trick people into clicking it and, I suspect. they get some sort of commission out of it. I make it a policy to never click those links.
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Penny, that is a spammer technique. Look at the link provided in the post... -- Tom D Ford — Sun Nov. 28th 3:03p.m.
I figured as much, Tom. I hovered my mouse over the link when I saw my plagiarized paragraph, and saw the URL in the lower corner of my browser, showing me where it would take me. I've spotted more than a few of these on the TOL discussion pages.
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This Ranger Kidwell-Ross is very interesting.
I'm glad to hear that Rebeca Lurie is doing okay, I remember that she sounded pretty down the last time.
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It was great to participate in your show. I would suggest people pick up a copy of the latest edition of Adbusters - http://adbusters.org - to find out more about Buy Nothing Day and the other great thinking that goes on in Adbusters and in that community of activists and thinkers.
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I think a very interesting way that trade works, pity that here in my parents there so my family lives in Miami and tells me how much good!
drenagem linfática
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Comments are now closed.
Really?!?!? The Recession is OVER?!?!? Where are the jobs, Mr. Boehner?
No, I am snapping my purse shut tighter than ever, thanks to this recession and the Party of HELL, NO! If they had gotten off their Filibusters and really had the interests of the American People (Their Employers, incidentally) then maybe the Recession Really WOULD be over!