5 Things to Do on Black Friday Instead of Shopping.
While that sounds easy enough — after all, all you have to do is figure out which stores have the biggest discounts on the items you want, and when they open — it’s getting more complicated to do so every year.Shares of large U.S.-based retailers are on a recent roll as many have already started their sales festivities normally reserved for Black Friday in an attempt to lure deal-crazed shoppers into physical and virtual stores before the end of this week. But it’s no longer a very good one, because the event has metastasized into several days and Friday is losing ground as the most important single day of the shopping bonanza.
As some retailers push their holiday door-buster hours into Thanksgiving Day — or in RadioShack’s case, the Wednesday before — figuring out a plan of action can create a bigger headache than dealing with bickering relatives. About 1.2 millions Canadians will book off sick from work to shop on Black Friday, but a new study suggests they’ll get slightly better deals if they can wait until Boxing Day. The name “Black Friday” was first applied by Philadelphia police officers in the early 1960s, who had to work 12-hour shifts contending with the chaotic downtown traffic jams caused by swarms of shoppers. Further complicating matters is the fact that some retailers — like Kohl’s, for example — will hold marathon sales that keep their stores open longer than 24 hours. During the past six days of trading in New York, shares of Wal-Mart Stores Inc., Dollar General Corp. and Costco Wholesale Corp. have climbed 6.8, 7.1 and 6.4 per cent, respectively.
Merchants tried to apply more cheerful labels, such as “Big Friday,” but by the 1970s and ‘80s the “Black Friday” name had spread to other cities. Just think: Maybe we’ll no longer have to say confusing things to our friends like, “Want to go Black Friday shopping with me on Thursday?” To get the brainstorming started, I decided to ask the people who probably think about this topic more than anybody: Retailers and the industry consultants and experts who advise them. The crowded stores, the sales on items they don’t really need, the spending of money on unthoughtful gifts – it adds up to an event that many people want to skip. Advertisers and retailers decided to roll with it, claiming it was the day businesses finally started to turn a profit — going from the “red” into the “black.”
E-commerce giant eBay says it uses the term Cyber 12 to describe the holiday season launch, a period it defines as Thanksgiving and the 11 days that follow it. “Once Thanksgiving hits, we actually see a steady rush that runs throughout December. We refer to this period as ‘cyber’ because, for consumers today, mobile and online shopping touch almost all of their shopping activities,” said Hal Lawton, the head of eBay’s North America business. It’s “Thanksgiving Week of Savings” at Dollar General, while Costco has “pre-Thanksgiving Savings.” Amazon.com Inc., which has been taking market share from brick-and-mortar stores for years by slashing prices, is hosting “Black Friday Deals Week.” The company’s stock is up 118.8 per cent in 2015. Paula Rosenblum, a retail analyst at RSR Research, suggests the Five-day Frenzy, a name that better captures how this thing has become a marathon instead of a one-day sprint.
The real trick with homemade gifts is that they take time more than anything else, and that’s exactly what Black Friday gives to many of us – particularly when we’re not shopping. Sign up with retailers—if you have a favorite store or a brand you love, analysts say make sure to sign up for the company’s newsletter or get on its mailing list. Pick up your supplies just before Thanksgiving, then settle in with a good movie or some holiday music and spend the Friday after Thanksgiving making gifts for your friends and family.
At consultancy ThoughtWorks Retail, strategists think Holiday Shipstorm might best capture the status quo of this year’s shopping situation, since more shoppers will be buying online and, meanwhile, a recent survey showed that most retailers believe they are not well-prepared to provide a wide array of choices for shipping, such as same-day or after-hours delivery. In recent months, stocks of Internet retailers have outperformed stocks of department stores, as more people continue to visit virtual stores instead of physical ones. “With improving fundamentals such as a tightening labour market and low gasoline prices supporting the U.S. consumer,” J.P Morgan Asset Management said in a weekly market recap, “we anticipate seeing continued strength but reiterate that selectivity, particularly within consumer discretionary, will be paramount given ever-changing patterns of consumption.” Economists at Wells Fargo Securities predict holiday spending in the U.S. will rise 3.4 per cent over 2014, citing a stronger labour market, cheaper gas prices and, theoretically, more disposable income.
A simple, tasteful card with a thoughtful note on the inside that says something about the connection that you share is a spectacular way to maintain a relationship and show someone that he or she really matters to you. Settle in a nice workspace including a few pens, a stack of cards and envelopes, some stamps and your address book, and write a few dozen thoughtful cards for people on this Black Friday.
Banksgiving, of course, because retailers are pulling down big bucks, and Fall-Back Friday because it’s become something of a second fiddle to the deals that come Thursday or earlier. Its dampened outlook “reflects somewhat softer consumer prices.” The economy and job market also remain fragile, and the fear of what’s next could keep consumers from over-reaching for their credit cards. “With expectations of future income growth still muted, we expect consumer credit usage to remain cautious this holiday season,” the economists added. Drop them in the mail, and they’ll find their way to the important people in your life, giving them something to smile about when they check their mail.
Scott Galloway, a professor of marketing and branding at New York University’s Stern School of Business, suggested we go with “The day I get to trample someone online to save 8 bucks on a Nespresso.” I’ve got a hunch that one might not stick. Many shoppers simply make a list of people who they need to buy gifts for and brainstorm ideas as quickly as possible, often grabbing thoughtless items at the last minute or giving generic gifts that don’t match the recipient’s interests at all. A quarter of them also say they will travel across the border to shop, even though the weak Canadian dollar has eroded the purchasing power of Canadians.
Give yourself some tasks for the first week, some for the second week, and then a few daily tasks after that, so that if you follow the plan, the holidays go off without any unexpected hitches or big expenses.