Single’s Day, Black Friday, Cyber Monday. Three regular days in November in which large and small businesses alike combat each other to give their customers the largest discounts possible. And that’s just barely scratching the surface. Christmas is coming up, winter sales should be starting right after, heck, even Valentine’s Day is getting closer every day. Where does it end…
The obvious answer.
To answer that question immediately – never. We just like shopping and the thought of getting something for cheap too much. Even though the bargains might not even be that good to begin with. According to a research posted in the Telegraph, it’s possible to get the same products cheaper during another time period than during a designated sales event like Black Friday. And this just might be exactly the reason why every single retailer is joining in on the hype. Should every business join in on the hype? It depends. Black Friday’s image is struggling. Videos of crowds fighting over TVs, laptops, gaming devices, or anything really can be found all over the internet, and yet sales are strong. Because of online shopping. There’s some irony to be found here. Still, with the right attitude it’s an absolute cash-cow, guaranteed to increase sales at the end of the year.
The well-oiled machine.
The largest part of the success of these large and mutually promoted sales-events seem to be the hype and the advertisements surrounding it. People know exactly when the sales are coming each year so they can save some cash (and spend it all on bargains), and they can schedule their shopping spree which saves them time (or at least it feels like it does). And even though most of the holidays which the sales are based upon aren’t even celebrated globally, events like Black Friday, Cyber Monday and Single’s Day are becoming global events. And that makes sense, considering the number of large multinational retailers positioned firmly all over the world. Local retailers have no choice but to follow.
The Dark side of black friday.
There is a downside to all of this however. A reason why a lot of smaller retailers struggle is because people will always want bargains and dislike spending a lot of time shopping. During a period with no large sales event, finding bargains requires research, dedication, and time. Things we’re just not looking forward to spend on something trivial like bargain hunting. Making things that much harder for businesses without a financial buffer the size of a small country.
So, do we really need more of this in our lives, or in our business? Younger generations like millennials are generally more negative towards the concept of these super-sales, as they promote consumerism and reveal the inability to show self-restraint. Will this bring these events to a stop? Of course not. It’s just too damn handy. And if the bargains are good… why not.