Myths and truths about Black Friday
Friday, November 23, 2012 10:00 AM
The Lafayette Journal and Courier had an interesting story this week about Black Friday myths and truths.
Some of you may have gotten out of bed long before dawn today to cash in on bargains offered at area stores. Others even interrupted their Thanksgiving celebrations to catch some Thursday evening deals.
Then there are those who slept in, valuing a few extra hours of shut-eye over saving $5 on a toaster oven.
The truth is, the paper reported, that many of the stories surrounding Black Friday aren't true. Richard Feinberg, a Purdue University professor of consumer sciences and retailing, set the record straight...
Black Friday is the busiest shopping day of the year. It's not, just one of the top five. The Saturday before Christmas is usually the busiest.
Black Friday is black. Retail profitability used to be dependent on revenue generated the day after Thanksgiving, but these days, retailers are profitable most of the year.
You can get the best bargains on Black Friday. Stores do have great deals, but they're usually in short supply, Feinberg says. Some of the best bargains can be found after the New Year.
People do not like Black Friday shopping. Not true. "People like it. People love it," Feinberg says. "There is something primal about it. People like to recount their tales of conquest and tell the stories of their conquest for years afterward. It becomes part of family mythology."
Black Friday items are subject to the same policies as normal merchandise. Feinberg says this isn't always true, especially considering return policies. "Some retailers shorten the return policy for the sale items."
Black Friday is dangerous. Not too often, Feinberg says. "There have been isolated injuries, but these injuries are really no greater than injuries in stores throughout the year. They just get more attention on Black Friday."
Employees do not like working on Black Friday. "While you can always find someone who doesn't like it, most employees find the time goes fast, and some retailers pay more."
All the sales are advertised. Feinberg says many aren't printed.
One thing we know for sure: Only in America can people trample others for sales exactly one day after being thankful for what they already have.