Black Friday Frenzy
Shopping at its Finest
It’s that time of the year. Families are coming together to eat like it’s nobody’s
business, snow is becoming more and more of a reality, Christmas trees are
getting drug out of the attic, and holiday music is sneaking onto radio
stations. Thanksgiving has always been the unspoken transition point where we
start to display our Christmas decorations without getting judged. It’s all so
exciting, but we can’t, however, overlook the one day of the year that shopping
turns into a sport.
The Frenzy of Black Friday
Every year stores overstaff, prices drop, and coffee-filled consumers flock to get the
best deals at unimaginable hours of the night. This begs the question, what
keeps the people coming? Well, it’s more than likely a combination of things.
- Black Friday has been pushed and promoted to be its own ‘holiday.’ For years, many have created the tradition of going out to get their holiday shopping done.
- It’s no secret that there are some pretty good deals when it comes to Black Friday. TV’s, electronics, toys, and appliances get major discounts and attract customers by the dozens.
- Have you ever found it interesting that your mailbox, email, and social media is bombarded with advertisements around Thanksgiving time? Companies are conducting pushes to get you in their doors or on their websites. This is an important time period for advertisers and a great deal of focus goes towards Black Friday advertisements.
Foot in the Door
These deals can often seem too good to be true. We see TV’s going for surreal prices
and think to ourselves, “how on earth are they making money?” It all starts
with an old tactic, the ‘Foot in the Door.’ Advertisers are able to sell larger
amounts of items by luring them into smaller amounts first.
Stores will lure you in with good deals and big items. You will go in with your mind
focused on one specific deal, but somehow you will end up leaving with a TV,
candles, pillows, batteries, and some candy. This tendency is exactly what
advertisers want and expect to happen. Millions of shoppers will enter stores
with one thing in mind and walk out with ten things in their cart.
What Can We Learn from the Black Friday Frenzy?
Don’t be discouraged by this tendency. Instead, use it as a learning curve to implement in your business. Understand the human tendency to leave with more than anticipated and model your goods and services accordingly.
As humans, we have tendencies. As a business, you can model your deliverables to cater to those tendencies. In the end, both parties will benefit.
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Have a wonderful Thanksgiving week!
–The Berger Hargis Team