Unless you have had been on a trip to the moon recently, it would have been hard to escape the anticipation and promotion around Black Friday and today, Cyber Monday… but is it rocket science after all?
Many of us (taking a large gulp of an assumption on your behalf) will have the festive season on the horizon and, in a rather weak attempt to soften our credit card bills, will look to get some shopping done early. Is it really surprising that in the weeks leading up to Christmas that the level of spending on Christmas presents will increase?!
As shoppers, never have we had more opportunity and ease to research items prior to purchase, do we really need endless promotions telling us to “buy today” to save money?
The opinions of those within the industry is mixed. Some are strongly against it, in the case of Jigsaw’s Chief executive Peter Ruis he says the discounts that shops offer are “deceptions” because the goods are often not worth the original price. It makes sense to think that if you are getting value for money in the first place how can an item suddenly then be worth 30, 50 or 70% less?! Are these retailers making such strong mark ups throughout the year, or are they crippling themselves in a peak season for spending?
No doubt a proportion of retailers and service providers take the stance of, “well, what are we doing… we’ve got to do something”. In an era of FOMO, the fear of missing out, are we potentially putting some of our more niche brands under commercial pressure to conform. If the item, service or product is good value in the first place then is there anything wrong with having the same price on Black Friday?
Of course people love a deal and whilst on face value it seems like a good idea, a quick cheaper win, however scratch a little deeper and you are likely to see the adage of ‘too good to be true’ isn’t too far away.
The results are perhaps too soon to call but one report suggests that consumers are getting more savvy to this trend with spend on Black Friday not as high as anticipated. Is common sense prevailing? After all, it was only a few years ago shoppers at American owned (Walmart) ASDA or tech shoppers on Amazon.com wondered what the Black Friday fuss was all about… perhaps now we have seen it, the hysteria has begun to settle and we can begin looking forward to the January sales?!
What I Really Wanted offers a unique range of luxury hotel and resort gift voucher experiences throughout the UK. With gifts available for every age and budget, experiences include overnight luxury hotel stays, spa days, golf breaks, fine dining experiences, afternoon teas and champagne afternoon teas.