Monday, October 31, 2011

Midnight Opening of Black Friday!

Starting this upcoming holiday season, Target and Macy's have decided to pick up a new trend: opening their stores to consumers at midnight on Black Friday. This incentive will have consumers filled up outside the stores waiting to be let in to start their early holiday shopping. Prices this season are also very low: "Macy's Black Friday deals include 50% off Sharper Image iPhone/iPod docking stations, $19.99 rampage boots, a free digital video camera with any $65 fragrance purchase (while supplies last) and $79.99 for a DKNY down coat." These prices and early Black Friday opening give consumers an incentive to get their holiday shopping done before Christmas sneaks up on them. On the other hand, some consumers will completely disregard the early opening. Some will instead shop closer to the holiday based on their trade offs: getting stomped by feverishly frantic shoppers in the early morning or peacefully shopping on their own and maybe having to pay just a little more for their items by waiting. Another incentive these stores are providing is extending their store hours on Christmas Eve. This holiday season will sure be a busy one full of shopping and busy malls!

2 comments:

Cole B said...

I completly agree with what you said in your blog. These stores are trying to increase their demand by adding incintives that are almost impossible to resist. By lowering their prices and opening the store for longer hours, they are increasing the demand for their stores. I also think that competition plays a key role in this too. If the one store decides to lower its prices and open its stores for longer, then the other rival stores must do the same or else they will lose their demand. If the other stores continue with thier higher prices, the consumers will substitute for the store with the lower prices.

Dainelle W said...

I agree completely with the competition view point; this incentive that Macy's and Target are providing is going to have other stores scrambling to open their doors at the same time. They don't want their profits to decrease simply because other shoppers picked Macy's or Target over their store [because of the earlier opening hours]!