Death of Black Friday
I remember when Black Friday was something special. Then, Cyber Monday was invented, but it wasn’t a big deal. Then Small Business Saturday jumped onto the bandwagon of what was once a big shopping weekend.
But what was special is no longer. Black Friday becomes Black Friday weekend. Cyber Monday became Cyber Week. And this year, Black Friday specials arrived a month early, and Cyber Monday is turning into a full month up until December 24th.
In retailers’ attempt to fight for the wallet by offering more deals, it actually ruined what made Black Friday special – scarcity.
People are motivated by value. People are more motivated by value that’s only available on a limited basis. By extending the offers, that limitation is gone. The motivation to go shop is also gone. Black Friday sales this year was weak, and so was Cyber Monday. It is the death of the Black Friday.
People’s shopping habits are changing. The only question is that marketers and retailers haven’t learned exactly how this change will take shape. Comments? Thoughts?