Resource for journalists on ‘Black Friday’
Dr. Bose Godbole: “Only the future can tell what becomes more important to consumers - the turkey or the deal.”
Is Black Friday over? Mousumi Bose Godbole, Ph.D., associate professor of marketing of Fairfield University’s Dolan School of Business, believes the holiday shopping season kick-off day, which has long been held the day after Thanksgiving, is now a permanent part of Thanksgiving. A growing number of American consumers have decided its fate, she added, by choosing deep discounts over turkey and family.
“The trend started in 2011 with Toys R’ Us showing the way [by opening its doors on Thanksgiving],” said Dr. Bose Godbole. “So Macy's [also opening this Thursday evening] is just a response to growing tactics in the retail industry. I doubt other retailers can sit around until Friday to open their doors. In all probability, consumers will continue to shop through to Friday. According to National Retail Federation, consumer spending was at a record $59.1 billion in 2012 for the Black Friday weekend. With consumers getting a sense of value through the hedonic buying process and through ‘deals,’ my guess is that Black Friday is here to stay. But it will be more of a Black weekend than just the Friday.”
“Retailers are smart though,” she continued. “If the sales start even before 8 p.m. (after Thanksgiving dinner), there may be resistance from employees and consumers. Therefore, at this point, 8 p.m. appears to be a good starting point for weekend shopping. Only the future can tell what becomes more important to consumers - the turkey or the deal.”
“Also, retailers are almost starting their promotion by doing pre-Thanksgiving sale that starts almost from the beginning of November, something we have not seen earlier,” Dr. Bose Godbole said. “And the Black Friday timing is no more a Black Friday event. It is an event that starts even before Thanksgiving dinner for some retailers (JCPenny, 5 p.m.). So, here is an excellent example of consumer-retailer symbiosis: retailers offering more and consumers wanting more.”
Dr. Bose Godbole teaches consumer behavior and marketing at the Dolan School of Business. She earned a B.S. and M.S. from the University of Calcutta, an M.B.A. from the Ecole Nationale des Ponts et Chausses, and a Ph.D. from Louisiana State University.
To reach Dr. Bose Godbole, email –
Media Contact: Meg McCaffrey, (203) 254-4000, ext. 2726, email@example.com
Posted on November 21, 2014
Vol. 47, No. 128