This Friday, as we emerge from our tryptophan induced haze, many of us will head to the mall seeking “door busters” and all manner of supposed fantastic bargains. Others will stay home to be met by breathless live shots from these same malls as reporters provide color commentary on this annual frenzy of conspicuous consumption. Industry pundits will pontificate as they are wont to do. Joy will spread throughout the land.
No matter that most Black Friday deals aren’t, in fact, deals.
No matter that the growth in internet shopping–and increasingly earlier launches of holiday promotions–continue to shift sales away from Black Friday.
No matter that, as Seth Godin nails in his recent post, Black Friday is more media trap, than consumer bonanza.
No matter that compelling evidence shows that Black Friday performance is largely irrelevant to predicting seasonal success.
For some consumers, a very limited budget–or a desire for certain highly scarce items–make aspects of the Black Friday slog worthwhile. Others simply go for the experience and aren’t kidding themselves that the savings justify the hassle and time investment.
But the sad reality is that many consumers who will hit the stores in a couple of days are simply misinformed. They have fallen prey to the mythology we continue to spin.
Given the dynamics of the retail industry and the media, I have no illusions that any of this will end any time soon. But none of us have to live in the denial of reality if we so choose.
And Hype-y Holidays!