TIMES- Re: Winners and Losers from Black Friday Week
December 3, 2009 § 2 Comments
Ciaran Smyth was captured on camera, taking a break from nearly five hours of shopping as he waits for his wife at Macy’s in New York City on Nov. 27. Yes people, from teen apparels to electronic goods: price discounts have attracted millions of salesーwho we applaud for them being the winners. According to the article published by TIMES on December 2nd, “the losers were largely retailers who a) did not have big electronics offerings, b) did not offer huge Black Friday discounts or c) are not worshipped by teens” (TIMES, 2009).
I’m sure most of us are not familiar with the term Black Friday when living in Japan. The Black Friday is referred to the Friday after Thanksgiving, which marks the beginning of the annual Christmas shopping season. This date is not an official national holiday, however, most employees have a day off since it is still part of their Thanksgiving Holiday. You know what this means: increasing the number of potential shopaholics!
The article states that all corporations were very,very, very competitive for this. Walmart, for instance, “Walmart’s [average] prices were 3.5% below Amazon, 4.2% below Target and down double digits compared to both Kmart and Toys “R” Us,” It was evident that Walmart’s desire to increase the market share for electronic goods. They challenged this sector by reducing the price and increasing its demand.
According to the article, “Analysts caution that the winners on Black Friday will not necessarily be the champions on Dec. 31. Tom Stemberg, former CEO and founder of Staples, and now managing partner of the Highland Consumer Fund, sees no correlation between Black Friday sales and a retailer’s ultimate success or failure over the holiday season. “Black Friday sales are about as meaningful as Groundhog Day is to the weather forecast,” says Stemberg. “What happens is every retailer blows his brains out with these door-crasher deals trying to generate traffic.” ” (TIMES, 2009).
I personally thought this holiday-event in the U.S is similar to an event similar like this in Japan: the Fukubukuro, or “Lucky Bags” , battle in Japanese department stores during the first few days of celebrating New Years. The dominant department stores in Japan including Sogo, Isetan, and Takashimaya, all put together a bag full of unsold clothes for a very reasonable price. This may sound like these Fukubukuros are filled with a bunch of junk, but they aren’t! Fukubukuros are extremely popular amongst Japanese people, in fact, they bring the real feeling of the Shougatsu. The Fukubukuro-Gassen, as the media calls it, is termed in a way where it gets into a war of selling and scrambling over these Fukubukuros.