Reference no: EM131866496
Big Buying on Black Friday and Cyber Monday
Black Friday has long been a U.S. shopping tradition. It's named for the day after Thanksgiving (fourth Thursday in November), when retail businesses move from the "red" into the "black"-become profitable- as consumers start buying for Christmas, Hanukkah, or Kwanzaa. Over the years, retailers and product marketers have shaped shoppers' expectations and stimulated word of mouth by offering deep discounts on desirable gift items such as televisions, but in limited quantities. Because consumers have learned that they must arrive early to take advantage of special pricing, many talk about their plans in advance and arrange to shop together, braving lines and crowds to get bargains they'll brag about later.
Media coverage of Black Friday has magnified the focus on bargain hunting and generated even more word-of-mouth excitement in recent years. Not all of the news has been positive: Reports include incidents of violence, long lines at some stores, and complaints from shoppers unable to buy what they wanted. Meanwhile, in the weeks leading up to Black Friday, brand and retail marketers spotlight special pricing and early opening hours in commercials, print ads, radio, and via social media such as Facebook and Twitter.
In 2011, the news that some stores and malls would open at midnight or earlier on the night of Thanksgiving touched off a firestorm of online and offline comments, some in support and some in opposition. When the gigantic Mall of America in Minnesota opened at midnight on Thanksgiving, 15,000 shoppers rushed in, including many Gen Y consumers who told reporters that they preferred late-night shopping to the usual early-morning shopping of Black Friday. By the end of the day, more than 200,000 shoppers had visited the mall, part of the record 86 million U.S. consumers who shopped in stores on that day. Nearly 25 percent of Black Friday shoppers arrived at stores on midnight or earlier, for the few stores that were open. Millions of consumers logged onto retail websites or used their smartphones or tablet computers to shop before or on Black Friday, because many retailers offered special deals in advance.
Cyber Monday, the Monday after Black Friday, is an online shopping "tradition" started by a retail association in 2005. It quickly turned into the busiest online buying day of the year, with consumers clicking to buy from home or at work. Marketers have helped this Internet age tradition along by e-mailing discount offers, posting bargains on sites and Facebook, tweeting about hourly specials, and touting the convenience of buying with a click instead of crowding into stores. Reports in mainstream media, as well as comments on technology blogs and in social media, have also helped to popularize Cyber Monday as an online shopping day.
Individual marketers are hoping to attract customers by advertising their own shopping days during this big buying weekend in November. For example, the telecommunications firm T-Mobile USA[https://bi.galegroup.com/essentials/company/1190795?u=tlearn_trl] recently promoted discounts on smartphones and tablet devices on "Magenta Saturday," named for its brand color.
Mattel [https://bi.galegroup.com/essentials/company/305542?u=tlearn_trl] has offered deep discounts on toys for "Pink Friday" and "Blue Friday," which coincide with Black Friday. Deal-a-day websites such as livingsocial.com and groupon.com also offer Black Friday specials, targeting bargain seekers who receive offers by e-mail. Watch for even more marketing messages and non-marketing conversations about these two shopping days as the next holiday buying season approaches.
Extreme shopping days like Black Friday are also common around the globe. For example, on December 27, millions of shoppers in Japan simultaneously shop to prepare for the New Year's festivities.[i]
CASE QUESTIONS
1. What role do you think normative influence and consumer socialization have played in the ongoing popularity of Black Friday and Cyber Monday?
2. What kinds of opinion leaders would you recommend that retailers target to influence consumers' decisions about where and when to shop on Black Friday and Cyber Monday?
3. How is the valence of information about Black Friday and Cyber Monday likely to influence consumers' decisions about where and when to shop on those days?
4. What kind of shopping experiences and emotions do consumers feel when shopping together?