Black Friday is an unofficial American holiday and a boon for American business. Black Friday spending helps businesses get through their fourth quarter, while Americans get the best Black Friday deals and save money–often hundreds–on their winter holiday shopping.
While America gets its holiday shopping list together, we took the time to research precisely what Black Friday means for American business.
Black Friday Spending Facts
You’re probably more interested in who has the best deals on flat screen TVs. Still, the impact of Black Friday spending on American business cannot be overstated:
- 24 percent of all Americans plan to do some shopping on Black Friday.
- The average American spends $343 over the course of the weekend as of 2009.
- 6.4 percent of all holiday shopping is Black Friday spending.
Still, Black Friday doesn’t make fourth quarter all on its own. Most shoppers aren’t even half way done with holiday shopping by the second week of December. There is, however, something profoundly powerful about the door-busting Black Friday deals that have people queuing up outside of stores to buy at hours before they would even be at work.
Finding the Best Black Friday Deals
Finding the best Black Friday deals has become a sort of sport come November. Customers start combing through their Sunday circulars looking for the best door-busting deals available. Examples of door-busting gimmicks for Black Friday include:
- Selling all appliances at a single price.
- Marking down consumer electronics to prices that create a loss for the first 100 or so customers who walk through the door.
- Offering special sales to customers who follow a social networking presence on Twitter or Facebook.
- Black Friday is one of the only times you can score a deal on a Mac.
Comparing the deals in your Sunday circular, then sitting down with a pen, paper and map will allow you to make the most of your time while getting the best deals.
Saving Money Without Black Friday Spending
You don’t have to brave sub-zero temperatures and ungodly hours of the day to get yourself a good deal on holiday gifts. There’s a growing movement to survive Black Friday by finding the best Black Friday deals online.
Cyber Monday is the digital age alternative to Black Friday, with top internet retailers offering deals comparable to or better than the door busters at your local mall or big box. For the person who loves a deal but hates everything else about Black Friday, Cyber Monday is the way to go.
Get the same or better deals while sitting around in your jammies, sipping cocoa and petting your dog. All you need is a credit card or PayPal account.
Black Friday and American Business
Black Friday is becoming an American tradition and is certainly a great way to save money. It also helps companies meet their fourth quarter sales goals. While you can get some great deals, the hassles associated with Black Friday–waiting in line, finding deals in circulars and other time spent preparing for Black Friday–might make Cyber Monday the more attractive option.
