After reading the posts on the success of Black Friday and also the mention of Cyber Monday I have come across an article which helps to highlight the major success of these two days. With sales being up this Black Friday than the past year the economy looks as though it will receive some much needed aid from this consumption. In addition to this Cyber Monday is apparently doing equally well with sales being more than last year’s more than $1 billion dollar figure. The idea of Cyber Monday, created to help the e-commerce companies left out by Black Friday, has been able to boost figures of sales for many companies. Online sales have seen increases as high as 42 percent for just this day alone.
The article sort of pokes fun at the idea of all these crazy days of big spending being developed but then one struck me as important. The article mentioned “Red Tuesday” where consumers would be going into debt because of Black Friday and Cyber Monday spending. This raises a serious issue, though consumers are spending is this spending more than they can themselves finance?
This was an interesting and humerous article. It is amazing to see the numbers after these holidays and the amount people try and save for holiday shopping. In reality, I think people shoot themselves in the foot and spend more than they need to because they think they are saving big when really savings are not that great.
ReplyDeleteThis is a nice article and I think it proves what a lot of people have done in this past week.
ReplyDeleteI personally spend a lot online this cyber Monday. According to some news I read, actually many Americans turn to shop online instead of drive in dark to the mall on Black Friday. In reality, deals of all the brands and websites are still going on. The cyber Monday might turn to Cyber week. Nice thing for the economy, anyway.
Shopping is the biggest waste of time...
ReplyDeletein thanksgiving where time is traditionally supposed to be spent with families people line out of shops to buy things that they dont even need...
the american public is now addicted to shopping not as a way of fulfilling needs but as a way of passing time...
Saar, I truly understand what you are saying. Holidays, not just in America, have become commercial events. The ritualistic buying that many people go through is as a result of intentions of many businesses. But, this is not to say it is completely bad. It helps to promote the much needed spending.
ReplyDeleteShopping is not a waste of time. It may have been blown out of proportion and has gone away from the true meaning of the holidays, but it does serve its purpose. Even little gifts show people that they care. This article does highlight the excess amount in which Americans are spending at holiday time, but it isn't new. People always spend way too much then they can afford and I think people are trying to not let all the bad news that is continually on the media to let them ruin their holidays.
ReplyDeleteIncreased sales shows that the economy is on a recovery as consumer confidence is coming back. Seeing this firms will increase their outlook and demand more inventories and labor hence resulting in lower unemployment.
ReplyDeleteThis is a good way to increase consumption rate since it provide another alternative for people who doesn't want to participate on Black Friday and waking up early for it. People tend to participate more this year and I have seen great deals around. Im even tempted to over spend on my budget. This will also encourage people to send more.
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