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Thursday, November 24, 2005

 

Black Friday

Well tomorrow is the big day for shopping! Many people will be out shopping for Christmas gifts and taking advantage of the great sales. This is a time when retail stores make up for the lag in spending up to this point. In the Denver Post an article stated that many stores are taking into account the decrease in disposable income this year due to higher gas prices and travel expenses. The recognition by retailers to adjust their prices to give us even better discounts than they would in the past is taking into account the society as a wholes marginal propensity to consume. I know that I am planning on getting to the stores with my family in the morning and am ready to find the best deals! Now, being a college student does not allow for much disposable income so now is the time to take advantage of the discounts.

This time of the year also allows for retail stores to clear their shelves and get ready for the new inventory for next year. Not only is this a great way to sale the items at a 30-50% discount but increases some of the revenues that they can take in before marking items down by 80%. Now there is a dilemma, do I wait to get that extra 30% off of that item that I want tomorrow, odds are no, I love to shop and get a deal, so if it is in my budget I am getting it!! I know growing up that my grandma would have a section of her closet devoted to presents of all kinds, most of these accumulated during these great sales. Sometimes I noticed that things went to waste or where just given away in the most random occasions. The retailers know that most people who are shopping tomorrow are going to be impulsive and that is a big key to the high revenues that are brought in on Black Friday. Of course most things will be used and given away but there is something about getting that deal and the satisfaction that makes us want to consume more.

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