Consumer Behavior on Black Friday
Running Head: Black Friday
Consumer Behavior on Black Friday
Abstract
The purpose of this research is to examine consumer behavior on Black Friday. Black Friday is typically the busiest shopping day of the year, and it is all driven by the chance for consumers to save the most amount of money possible while getting their holiday shopping done. Research was done online, and also through personal experiences. By understanding what retailers and consumers hope to accomplish on this day can have a positive impact on everyone. Consumers are able to get what they want with the least amount of turmoil, and retailers are able to turn a profit. This research can be most helpful to merchants, as it will help them to understand what a consumer wants, and what they expect the unofficial holiday to be like. A complication with this research is that each consumer is different and may have different expectations in mind. Concentrating on making Black Friday as organized as possible will only benefit all parties involved.
Introduction
Black Friday refers to the day after Thanksgiving, which is the unofficial start of the holiday shopping season. Black Friday is a day when stores dramatically discount products with the intention of luring in the highest number of shoppers possible. The term Black Friday received its name because that is a day when, hopefully, businesses balance sheets go from red, a loss, to black, a profit (Staff, 2010). It can be a day of chaos, as seen in 2008 when a Walmart employee was trampled to death by a mob of customers (Gould, Trapasso, & Schapiro, 2008). But many that day focus on saving money, and are willing to wait in lines for days for a deal.
Impulsive Consumption
Some of the purchases made on Black Friday may be impulsive. The textbook states that impulsive consumption is usually spontaneous and involves some feelings of liberation; is associated with a lessened sense of costs or consequences; and is motivated by a need for immediate
Consumer Behavior on Black Friday
Abstract
The purpose of this research is to examine consumer behavior on Black Friday. Black Friday is typically the busiest shopping day of the year, and it is all driven by the chance for consumers to save the most amount of money possible while getting their holiday shopping done. Research was done online, and also through personal experiences. By understanding what retailers and consumers hope to accomplish on this day can have a positive impact on everyone. Consumers are able to get what they want with the least amount of turmoil, and retailers are able to turn a profit. This research can be most helpful to merchants, as it will help them to understand what a consumer wants, and what they expect the unofficial holiday to be like. A complication with this research is that each consumer is different and may have different expectations in mind. Concentrating on making Black Friday as organized as possible will only benefit all parties involved.
Introduction
Black Friday refers to the day after Thanksgiving, which is the unofficial start of the holiday shopping season. Black Friday is a day when stores dramatically discount products with the intention of luring in the highest number of shoppers possible. The term Black Friday received its name because that is a day when, hopefully, businesses balance sheets go from red, a loss, to black, a profit (Staff, 2010). It can be a day of chaos, as seen in 2008 when a Walmart employee was trampled to death by a mob of customers (Gould, Trapasso, & Schapiro, 2008). But many that day focus on saving money, and are willing to wait in lines for days for a deal.
Impulsive Consumption
Some of the purchases made on Black Friday may be impulsive. The textbook states that impulsive consumption is usually spontaneous and involves some feelings of liberation; is associated with a lessened sense of costs or consequences; and is motivated by a need for immediate
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