Types of Consumers who go Shopping on Black Friday
Black Friday is one of the most important days of the year for most retailers. It is the days when several consumers decide to leave all the other routine activities to go for shopping. Most retailers are sure of getting amazing deals on different goods and services. According to ShopperTrak, which measures shopping habits, Black Friday has been the biggest shopping day of the year for both customer traffic and sales. Some people believe that the term Black Friday emerged due to the surge of holiday shopping. Hence, retailers were supposedly pushed into the black, making them to earn more profits for the year. Studies have also shown that Black Friday is the key to retailers profitability. The objective of the research study was to find out the types of consumers who went for shopping on black Friday in New Jersey and New York. Data was collected through observation, survey and interviews.
The initial step in the research process was to find out the views of consumers and different individuals regarding black Friday. The aim was to find out whether people knew the meaning of black Friday. Interviews were conducted on the different types of consumers who went for shopping in black Friday. From the responses, it was clear that majority of the people know the meaning of black Friday. It was however, evident that most of them had a vague idea on how the term was coined and why the day came to be referred to as black. Majority of the responses indicated that black Friday is a day that marks the beginning of an extremely busy shopping season during which several consumers start their holiday shopping (Cohen and Coffin, 1991).
Most of the consumers interviewed believed that the word black had a negative connotation. It is however evident that the use of the word black in black Friday symbolizes profitability. Retailers often experience a surge in retail sales on this day as a result of intense holiday shopping. Responses from retailers indicated that retailers often lured consumers into their stores by offering them various holiday gifts. Different retailers also revealed that the contents of black Friday advertisements are often extremely highly anticipated that retailers go to the extent of ensuring that they are not leaked out to the public before the exact day (Patterson, 2000).
Retailers were also asked to give their various responses regarding the meaning of the word black Friday. Most of the retailers had a vague idea of where and when the word originated. Majority of them only knew that the day was associated with huge sale volumes and profits. Many retailers believed that the day meant great profitability. They also revealed that they advertised their products and services through various media sources prior to black Friday. Promotions and offering of gifts in order to lure consumers was the other practice that retailers admitted to. The aim of these acts was to attract more customers and hence increase sales and make more profits.
A number of retailers in New Jersey were interviewed. One of the questions was regarding their views on Black Friday. According to their response, black Friday was one of the days that they looked forward to. This is due to the fact that it was one of the most profitable days in Americas history. Retailers made a lot of profits during the day since there were numerous consumers who went shopping on black Fridays. It was also evident that black Friday was one of the busiest shopping days in New York and North Jersey. The observation results indicated that
We got views from online consumers through the use of observation and interviews. It was observed that most online consumers did their online shopping on the Monday following thanks giving day. The day is commonly known as cyber Monday. This is the day when consumers go for online shopping from their favorite retailers. Similar to black Friday, online retailers also start sales and promotions on cyber Monday. Promotions are done in order to compete against the black Friday offerings (Patterson, 2000).
The next batch of consumers that were interviewed was the consumers of electronics. We interviewed consumers and retailers of a major electronic store in North Jersey a day before black Friday. The objective of the interview was to find out on the various tips for successful black Friday. Several responses were obtained from the various consumers. One of the responses obtained from one consumer is that for successful black Friday shopping, one has to start saving early enough. This particular consumer stated that she had saved all up the year for November sales. By starting to save early enough, one can shop successfully on black Friday without running out of money.
Another consumer responded that he wanted to purchase a home theatre of his own and for a friends. According to this consumer, one of the tips for successful black Friday shopping was to know your stores. It is essential for a consumer to have knowledge of the stores that he or she intends to buy goods or services from. It is also recommendable to have more than one store in mind to avoid unnecessary inconveniences. Having one store in mind may disappoint consumers. It would not be the wish of any given consumer to get disappointed on that fateful Friday morning.
Another response obtained from one other consumer is that it is essential for one to know the advertisements before they actually get them. There are several media sources that one can get advertisement before the black Friday. One of the common sources of advertisements is the newspapers. There are several newspaper vendors where one can get first hand information. It is inappropriate to wait till the last minute in order to view the various advertisements (Patterson, 2000).
Finally, it is essential to do research prior to black Friday shopping. Research enables a consumer to have knowledge of the various shopping stores. Moreover, a consumer can be is able to compare prices of various goods and services in the several shopping stores identified. Research enables a consumer to have a detailed plan that show when the various stores open, when various deals are active and the various departments available in various stores. The other important point about research is that it enables a consumer to have an alternative store just incase the first choice bounces. Interview responses indicated that consumers had knowledge of the several sources that could be used to obtain research information. Some of the mentioned sources are books, magazines, newspapers and even the Internet.
A survey was conducted to determine the average amount of money spent by a single person for shopping on black Friday. The survey sample consisted of 30 consumers, 15 from New York and the other 15 from North Jersey. An approximate amount of money spent by each of the consumer was estimated. The next step was to find the average amount of money spent by the consumers. Results indicated that the average amount spent per individual from Thanksgiving Day through the end of the weekend was approximately $ 360. This indicated that people in New York City and North jersey spent a lot of money for shopping on black Friday.
The other survey conducted was to determine the types of goods and services that majority of the consumers purchased on black Friday. Results indicated that majority of the consumers spent a lot of money shopping for movies and music. This was followed by shopping for home and garden. The least amount of money was spent on traveling. Majority of the males aged between 30 and 34 years are the ones who buy most of the electronic gadgets. Results also indicated that the youth or the young generation bought electronic gadgets such as iPods and laptops.
The other research study was aimed at comparing the better black Friday shopping place between New York City and North Jersey. Our results were based on views from retailers and consumers. Consumers were to give their opinions on the issue and then give reasons as to why they thought one place was better than the other place. Results indicated that majority of retailers and consumers thought that New York City was a better shopping place than North Jersey. One of the reasons given is that New York City had a wide variety of products that were of high quality.
The other reason was given by electronics consumers. The consumers gave views that New York City provided the best electronic gadgets that were original. One of the consumers admitted to having bought an electronic gadget the previous black Friday and the gadget was as good as new. He further emphasized that he did all his black Friday shopping in New York City and in some selected stores.
We observed several adverts in newspapers and the Internet. Results revealed that most of the adverts were based in New York City. This meant that New York City has the highest number of retails stores (Silverman, Chauvin and Goodman, 2010). These retail stores specialized on a variety of products ranging from electronics, household products, clothing and several other products. To further prove that New York was a better black Friday shopping place, results indicated that the best retailer who had made the highest amount of profits was from New York City. It was observed that several retail stores in New York City were crowded with consumers who were buying different types of goods and services.
It is evident that black Friday is among the busiest days for retailers and consumers in New York City and North Jersey. This is the day when most consumers do their holiday shopping. Most retailers have reported to making huge profits on black Friday. It is also evident that electronic consumers are the majority of shoppers on black Friday. Of the tow shopping places, New York City is the better black Friday shopping place.
Cohen, H., Coffin, T. P. (1991) The Folklore of American Holidays (2nd Ed).
Patterson, J. (2000) Black Friday. Warner Books.
Silverman, B., Chauvin, K., & Goodman, R. (2010) Frommers New York City 2011.Frommers, 2010.
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