For some, today is not about shopping the biggest sales of the year. Many people will avoid making any purchases because today has also been designated, “Buy Nothing Day,” an event encouraged by AdBusters Magazine (but apparently not MTV).
While the spirit of the event seems to make sense, avoiding commercialism, I have to wonder… does it really have an impact on retailers’ bottom lines? It may in fact hurt Friday’s sales, but won’t people simply stock up in advance or by more on Saturday and following days?
People are going to buy Christmas presents, decorations, party foods, wrapping paper, trim, and beverages no matter what.
It reminds me of events that encourage people not to buy gas on certain days to send a message to oil companies. The problem is, we need gasoline and don’t have much choice about buying it. If we avoid a certain day, we’ll simply buy more before or after. Also, when such events are publicized, what’s to stop oil companies from raising prices following such a date to make up for lost revenues?
As noted, the spirit of the idea is good, but in practical terms it really doesn’t have the grand affect anticipated. On that note, no one should feel bad about purchasing gasoline during such times, and no one should feel guilty over purchasing gifts and other holiday elements at great prices.
The truth is that some retailers are already finding their bottom lines a bit smaller and others are predicting a less than stellar holiday shopping season. While many of us would consider a shrinking bottom to be a good thing, it’s not when it comes to profits. It can however translate into good news for consumers as retailers are forced to lower prices and make up profits by volume. This is occurring because of overall lower sales, not simply taking one day off from shopping.
So, if you want to rise before dawn and scour those sales that start as early as 4 a.m., go for it. I’ll be sleeping in, but you have fun.
What are You doing This Black Friday?