It’s that time of year again. The time to spend with loved ones eating home cooked meals until our pants won’t button anymore. Even more importantly, it’s that time of year when retailers roll out their end of the year deals. That’s right, Black-Friday and Cyber Monday.
Many have pre-Black Friday deals while others open just a few hours after Thanksgiving is officially over. Despite all the Black Friday hype, is the shopping holiday still relevant in 2017? According to a survey conducted by Accenture people are less inclined to partake this year compared to other years. Out of 1,500 participants, 52% admitted they were less than interested.
Several factors can be blamed for the indifference. 64% said they were less than thrilled about having to deal with large crowds. Retailers also have the habit of having a limited supply of doorbusters, which could result in fights, but physical and verbal. Another issue retailers are creating is the promotional periods. Consumers usually get good deals before and after Thanksgiving making them not want to go out and wait in long lines for similar pricing.
E-commerce retailers like Amazon are also becoming a bigger threat. Shopping extravaganzas like Prime Day cut prices on thousands of items allowing consumers to take advantage year-round instead of having to wait. Online retailers also offer free shipping and the convenience of shopping at home or on a mobile device. Because of this, brick-and-mortar retailers are having to create new ways to lure people in. With so much competition and high expectations from consumers, drastic changes will have to be made to keep Black-Friday alive.