The Black Friday Post

Well, Black Friday has come and gone. I did not go shopping, but I did hear stories. People camping out for days to wait for door busters. Lines wrapped all the way around buildings. Two hour long waits just to check out with the cashier. Why go through the hassle? Well, most of us would say, to save money of course! One guy I spoke to said that he saved as much as he spent--an average of 50% off what he paid for. Not bad. But really? Is saving money the only reason why we indulge in this tradition.

I don't think so. I think the people who camp out overnight or wait in line for hours have more than a motivation to save. I think that they are participating in a cultural experience. They like the hassle. It's like waiting in line for a roller coaster or a premier of a blockbuster movie--it's just exciting when there are a lot of people. It's not so much that it's worth the wait but, rather, the fact that they have to wait makes it worth it. It increases the value--builds up expectation.

Perhaps there is also an element of scarcity involved. The doorbuster deals that people wait in line for are in extremely limited supply. It's not so much that they can save money as it is that they have to be among the first in line to save the money. Scarcity drives up demand. Sort of like tickets for a big concert. There are only so many seats in the venue and, if a lot of people want to see the concert, the price is going to go up for each ticket. The same thing causes people to wait in tediously long lines on Black Friday. If you don't get in line, someone else will!

There is a lot of disgust for Black Friday as it is seen by many as a mindlessly materialistic endeavor. Perhaps it is on the surface. But I think that it is more of an experience that people share. It is a cultural tradition. There are some people that will do anything to avoid such shopping mania, but there are some that are hopelessly drawn to it.