Black Friday

[Bigaldoc]

For those not in the know, today in the USA is known as "Black Friday," the day after our Thanksgiving holiday which many employers also give as part of a long 4-day weekend off from work. It also snowed a bit overnight, our first dusting of the year in Central Kentucky. The CURRENT temperature is listed as 31°F.

People will stand in line ALL NIGHT at stores, mostly the big-box type, waiting to scoop up deep price reduced bargains of all kinds. I or my wife have never done so since we both disliked standing in long lines since our days in the army. I'm also now much older and can't take the standing too well.

I saw a message on Facebook this morning from my former supervisor when i worked at KET. He said he had seen an advert that Wal-Mart had a 17" laptop on sale for $398 but the ad said it would NOT be available via the web site. Like me, he doesn't like standing in long lines, but evidently was not averse to staying up and sitting at his computer. His post said that at 3 am today the web site DID list the laptop in limited supply and he GOT one of 'em, including a confirming email! Then he said that within minutes, the supply was gone.

This is probably the one, AND free shipping: Biscotti HP Laptop PC

Ahhh, the benefits of using the internet!    

[jaystarter]

Thanks for that Big Al. I've been seing loads of "Black Friday" offers through my in box (and mostly spam box) which I haven't even bothered to read, but did wonder of the significance of the term.

[John Gray]

I'm puzzled why this Friday is 'black' and not something like 'golden' or 'bargain'?

The term is not indigenous to the United Kingdom (which is usually known as Treasure Island to the electronics goods manufacturers, who try to price their goods in the same number of pounds as they do in the rather cheaper dollars...)

[Bowlie]

I'm puzzled why this Friday is 'black' and not something like 'golden' or 'bargain'?

The term is not indigenous to the United Kingdom (which is usually known as Treasure Island to the electronics goods manufacturers, who try to price their goods in the same number of pounds as they do in the rather cheaper dollars...)

The dollar prices mentioned are not inclusive of sales tax (6% I think in KY) while UK prices are inclusive of the obscene 17.5% (soon to be 20%) VAT. This alone accounts for much of the difference in prices - although basic economics, in particular willingness and ability to pay, comes into it as well.

[StuartR]

...The dollar prices mentioned are not inclusive of sales tax (6% I think in KY) while UK prices are inclusive of the obscene 17.5% (soon to be 20%) VAT. This alone accounts for much of the difference in prices...

Not really.

Take a product like Adobe Photoshop CS5 for example.

US price at amazon.com is $565
UK price at amazon.co.uk is £606.86

If you convert the USD price to GBP it comes to $565 * 0.64 = £361.60
If you then add 17.5% VAT it comes to £361.60 * 1.175 = £424.88

The treasure island premium is (606.86-424.88)/606.86 which is almost exactly 30%

[viking33]

I'm puzzled why this Friday is 'black' and not something like 'golden' or 'bargain'?

The term is not indigenous to the United Kingdom (which is usually known as Treasure Island to the electronics goods manufacturers, who try to price their goods in the same number of pounds as they do in the rather cheaper dollars...)

The term "black" comes for the idea that it is the day that retailers profits go into the black, rather than staying in the red for the year end balances.
Personally, I wouldn't even venture out the door to go to any of these ridiculous midnight, 3 AM or 4AM door openers just to get a so called bargain price. Some of these fools don't even know WHAT they are going to buy, just so long as they can buy something at a seeming sale price.
There was a TV news item showing a woman who was camping out in front of a Walmart's store.... for a week! When asked just what she was going to buy, she said she really didn't know but just wanted to be first. Last year she was SO disappointed because she was a poor third in line! Give me a break!

[Bigaldoc]

Bob's correct on both counts. The "black" IS a profit oriented term although until recent years it was NOT the "best" day of the sales seasons. It is now becoming so.

I know a number of locals who have been waiting for this day with anticipation for some time and, when asked, have no particular product(s) they're after. They just want to hunt and grab for perceived bargains.

One of the things that has concerned me over time is the INJURIES that sometimes occur because of the mad rush and yes, sometimes even fighting that goes on with crazy people! And that doesn't even consider the vehicle traffic in MY community.

I need to make a grocery shopping trip today and I'm VERY glad the two places I usually go are not anywhere near any of the madhouse shopping areas!

[VegasNath]

Personally, I cannot think of anything worse. Shopping does nothing for me at the best of times, but 'sale' shopping makes my blood run cold. IMO, it is just an opportunity for retailers to rid themselves of products that they are otherwise unable to shift at full price, mostly tat. I know there are occasional exceptions where real bargains are to be had, but digging through the rubbish to find them........ No thank you.

[Bigaldoc]

I learned Friday afternoon from a lady I know here that at 2:30 am she went to a local Wal-Mart to get in line to buy some TV that she was interested in. She learned when she got there that the Wal-Mart had already given out some kind of "bracelets" for customers to buy that TV and had done so at 10:30 pm the night before! There were no more of the TVs available and there were a lot of very angry Wal-Mart customers. It just isn't worth the grief!

[John Gray]

We used to get this sort of stupidity years ago at the January Sales (when this was almost the only time that prices got reduced during the year) with crowds waiting all night outside major London stores like Harrods and Selfridges in the (usually) freezing cold. It made good publicity for the stores, and camera and interview fodder for journalists, and the very earliest queuers obtained bargains.

I believe that some organisations like Microsoft and Apple also have this sort of irrelevant frenzy when new products are announced?

[Leif]

I believe that some organisations like Microsoft and Apple also have this sort of irrelevant frenzy when new products are announced?

Irrelevant to whom?

[StuartR]

Irrelevant to whom?

Irrelevant to the price most of us end up paying for their products?

[Bowlie]

The treasure island premium is (606.86-424.88)/606.86 which is almost exactly 30%

That would be the second part of my comment, "although basic economics, in particular willingness and ability to pay, comes into it as well. It would appear that enough punters are prepared to pay the TI premium - why would they reduce the price?

[ChrisGreaves]

... unable to shift at full price, mostly tat.

Nathan, I'm inclined to agree with what you call "tat".
Here's an obverse observation.
My friend watches the Shopping Channel; she sees a fridge/stove/dishwasher combo and is invited to bid.
Since she is selling the house and moving into a condo, she researches the items in the local white-goods stores and realizes that a bid of, say, $3,950 would be appropriate.

She submits the bid AND HERS IS THE WINNING BID!

I am skeptical; I feel that the combo is worth $2,000 at cost and any bid over $3,500 will be declared a winner. The Shopping Channel will then order "x" combos to be delivered and make at least "X" times $1,500 profit.
Good for them.

The combo is delivered.
Her brother installs the dishwasher and stove, but sadly, the fridge is too high and too wide to fit in the enclosure, and worst of all, its protruding sculpted handles make it 36" front to back, which would narrow the space to the kitchen counter to about 24", and that right in front of the stove. We are talking serious "Hands, Knees and BUMPS-a-daisy" here.

The fridge is about 6 feet high, has double fridge doors and twin-drawer freezers. Would suit a family of 6, I feel.

HPIM3346 (Small).JPG

The fridge is now sitting in her dining room, plugged in.
She is bruising her sides on the kitchen counter as she negotiates this temporary gap.
How will she recoup the $1,800 or so it is worth? Not through CraigsList.
Then she will have to go out and buy a new, smaller fridge to fill her needs (single pensioner).

Sad.