Our economic situation including: high unemployment, low consumer confidence and a dismal housing market are statistically worse than the Great Depression. Yet, according to the retail trade group, $212 million shoppers visited stores and websites over the past four-day Black Friday weekend. This year’s numbers are up from $195 million during the same period last year.
There many ways to interpret this situation. What’s your hypothesis?
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Ayanda B.- Online
ReplyDeleteThe way I interpret this situation is that inspite of the economy being in shambles many took advantage of black friday sales. Some people are in worst shape than others financially. A lot of people may have used credit and retail cards to buy items while some may have spent bill money. Either way you look at it we are still in the same shape as a country as we were before black friday.
Kourtney C....ONLINE...
ReplyDeleteThe way I look at it is that regardless of the what fiancial burdens people might have, they still would like to enjoy the holidays.What better way to get everything for christmas than Black Friday? With correct budgeting and a great shopper it might just turn out to be a success for those who have extra cash.
Sabrina M.
ReplyDeleteIn my opinion, the holiday season is always going to be immune to the situation in the economy. Regardless of how much extra money someone has, they are probably going to want to purchase gifts for their friends and family. The increase in Black Friday sales from last year could actually be a result of the economy getting worse. People figure that Black Friday is the best time to buy gifts or items that they could not necessarily afford during the year because the sales and discounts are so large. In a way, I think people in this economy are just trying to get more bang for their buck, so this surge in sales makes sense.
Courtenay Seay _online
ReplyDeleteI agree with the previous posts. I think people are tired of feeling depressed and worried. Christmas, regardless of your religious affiliations) is like a psychological vacation for us. We force ourselves to be more "merry" and spend more time with people we care about. The Holidays are the one time a year we all collectively wish for "peace on earth and goodwill towards men". It is a shame that this is only a once a year thing.
Times are the toughest they have ever been and every one I know has been affected in some way. Like my classmates pointed out, the sales on Black Friday help many of us affected by the recession better afford to splurge on our families.
thats absolutely true. i work at Lowes home improvement store and our sales through the course of this year have been pathetic. but suprisingly this black friday weekend we beat the sales from last year! i have never shopped on black friday but this year i did.which is quite strange. my hypothesis is people are hurting for money therefore they have not been spending. they saved their money till black friday so they could buy stuff cheaper because alot of the stuff was discounted off. so alot more people spent money during black friday, money they havent been spending the rest of the time
ReplyDeleteAngelyn A. Online-
ReplyDeleteRegardless of what sales were going on this year, the fact still stands that we spent $17 million more than this time last year. Part of that may be the fact that this time last year, everyone was just beginning to feel the major effects of the stock market crash and the recession. We have had 12 months to "get used" to the losses that we have all suffered and get back on our feet, and many of us have changed our budgeting and spending habits so that we are sure to never be in that situation again. A great number of people have also probably started saving for the holidays much earlier in the year than they did last year, therefore being able to shop more freely and not worry where the money is coming from.
Then again, maybe people decided it more important to buy gifts than keep up with their mortgage, who knows. ;-)
Rachel Hudson Online
ReplyDeleteI think that people have just a really bad habbit of buying things despite their financial situation. Its the excitement of it all that there are going to be really good deals and people just don't have self control. The economy may be really bad right now but the credit card debt is also higher than ever. I believe that people just use their credit card and don't think it through and have the mind set that they will be able to pay it off. The reason is, if you took an MRI of someones brain there is no
Ann M.--online
ReplyDeleteI think that the figures given by the Retail Industries were "inflated" to give shoppers hope that things are better than last year and will continue to be better. Why do you think that some retailers try to get shoppers into their stores a week before Black Friday, and "hints of leaks" of big discount on certain items. It was only a strategy to generate a shopping frenzy, and to let people part with their money "believing it was too good a deal to pass up". I think that as Christmas gets closer, retailers will be forced to make deeper cuts to sell their products. With the country experiencing conditions similiar to the Great Depression, now is not the time to buy that tv, because it is 3-D and internet accessible or that new X-Box 360.Wake up people!, your neighbor is losing his/her house. If I had money to invest, I would be putting it into "storage facilities", because at the end of the day, that is where most of our "wants" will end up.
Margaret F.-online
ReplyDeleteI believe that even though a lot of people were shopping during this weekend there will be a lot of returns. People who might have started working recently wanted to cheer themselves up and those with children feel they don't want their children to feel the lack. Spending is just a way to look at the brighter side and also not wanting to face reality a false assurance.
Simple....people have less money because of the recession. People start buying less things. People start wanting more things. Thus, they wait for discount days so they can go out and spend away and feel like they saved money.
ReplyDeletePlus people knock out a lot of Xmas gifts on Black Friday. Why not just get it all in one big swoop while saving a few bucks?
^^Oops, forgot to add my name, that was Andrew G. Online.
ReplyDeleteAmanda Caputo- Online
ReplyDeleteEven if there are a lot of people who are out of jobs and don’t have a lot of money to spend they wait until there are deals such as black Friday and the 4 days after it. Most people that shopped either put the items on credit or a store card so that they could get what they wanted and needed. I don’t think that just because people don’t have money doesn’t mean they are not spending money. This is the first year that I didn’t go out on black Friday all because I knew it would be a huge mess because of all the people that are trying to save money.
Lindsey Miller
ReplyDeleteI think that people are spending the extra money because of the great deals! and to help out those that need it in their family. i know i used all my extra money that i would normally spend on myself to buy things to thank those that have helped me throughout the year! i think this is the time of the year that people want to help one another and thank those that have helped them. and the great sales just help us out!!!!
Andrew G. Online
ReplyDeleteAmanda, I'm not sure if your response was directed towards me, but I think it was. You sort of disagreed and agreed with me, yes? It doesn't make sense to say "because people don't have money doesn't mean they are not spending money" and say "they wait until there are deals such as black Friday and the 4 days after it." Contradiction, no? Plus that's exactly what I said. People are technically buying the same amount of stuff, they're just buying it all in a period of 1-4 days.
Lisa Womack-online
ReplyDeleteI think people are learning how to budget their money more efficiently. Economically, the country has been down for some time now and people are starting to realize this and save their money for more important things. I'm sure many people used credit cards, bank loans, or store credit to buy gifts. But, I think all the spending will help a little. I mean all the taxes has to contribute to something. Maybe I'm just too positive, but I refuse to believe that anything bad came out of Black Friday shopping. Some people may be further in debt, but the money that was spent has to have a positive effect on the country.
Angela R.
ReplyDeleteI don't really know much about budgeting so this is hard for me to talk about. I figure that people are just not using their money wisely. Gifts and material things from stores are more important to them than keeping up with bills and paying the government.
I think the deals are great and It is a consumer's market . that is why people are spending!
ReplyDeleteI wonder sometimes if the news is as bad as it really is. Since I do believe the news media is controlled by Wall Street and the elite immuminati. My theory is this: They (news media) is fed what the people who control the money (wall street,federal reserve, special interests groups, elite illuminati) want the public to hear. I am in the business world, it has never been better. I work at a place where the entire world comes to buy their goods for their stores, businesses , etc...it has never been better. So when I hear things on the news, i take it with a grain of salt. I know there are people losing jobs, teachers, especially, but remember they are controlled by big government. When has government ever run anything right?
Bottom line: SPend your money where you choose. But what you need. Consider becoming an entrepreneur, start your own business, don't rely on anyone for a job; create yourself a job! Find something you are passionate about and go with it and that way you will never have to work a day in your life :)
Denise Miller
online student
Sarah Thompson-online
ReplyDeleteMy best guess would be that people that didn't suffer in the past financially are feeling the pinch this year, thus enticing them to brave the crowds on black Friday to get the best deals. Also you have to take into consideration that you can also shop the four day black Friday online as well, which adds to the total sales signficantly. And there is always plastic to use in place of real money.
Sarah Thompson-online
ReplyDeletein response to Angela and Lisa
I think you have made a very good point. We have been in a recession for a while now and people are learning how to budget and manage their money more efficiently. With this in mind they were able to set back some money for Christmas this year and took advantage of the deals available on black Friday.
Kristien S. Online
ReplyDeleteI think the biggest reason is that many people know that some of the best deals to be had each year are on the days of and after black Friday, so many could put off their purchases until then; which would deflate the spending numbers as a whole until that point and inflate holiday spending.
Christopher P.
ReplyDeletePeople probably stopped caring about their money problems for one holiday. Most of the money spent was more than likely on a credit card. I’m sure a lot of people put themselves into debt but don’t really care because it’s the holidays. That’s the reason I don’t have a credit card. If I don’t have the money for something I don’t buy it.
Jessica C.
ReplyDeleteWell, apart from people being stupid and saying We'll just charge it to the credit card. I think they still spend money because they don't want to seem like less of a person or less of a mom or dad to their friends and children. Specially their children, children are suppose to look up to their parents and the parents think, how can my child look up to me if I can't give them what they want.
Jessica C. In Response To Margret F.
ReplyDeleteI was at Walmart and I went to return a pair of pants that where not correct. I was in the return line and there was this lady in front of me, who had I would say half if not more of the things she had bought to return she said she went to crazy and bought to many things because she couldn't help it.
Juliana W.
ReplyDeleteI agree with those who’ve said that people are trying to be more thrifty by buying stuff on Black Friday. I work in retail, and a lot of people are determined lately to only buy stuff that is on sale. And stores seemed to really try to have good deals. Usually the Black Friday deals seem pretty lame and not really worth it, but this year I saw some stuff priced really low. And people don’t really have good discipline. A lot of people probably figured that since they cut back last year, it’s okay then to splurge this year.
~ Katie H. (Online) ~
ReplyDeleteHonestly... I don't ever really think about situations like this. It is depressing to know there are so many unemployed people, especially during the holidays. I think the best way to interpet this is people are taking more advantage of the deals Black Friday offers and try to get their shopping done in one cheap day as opposed to last minutes or splurging. I know I for one bought a majority of the things I got for my babies on Black Friday, I went the Mall and Walmart, they were both ridiculously busy but defiently worth the deals!! (:
Kristyn B. - Online
ReplyDeleteI think that people were probably using credit cards. If they are already in debt then why let Christmas suffer? Plus all the advertisements that have been running have probably helped persuade people to find ways to buy things. So I think that it makes sense that they could have just added to their debt.
Courtney B.- Online
ReplyDeleteIn my opinion I think that even though the economy is bad, the holidays are a time when people still want to be happy. The sales on black Friday are as good as they get therefore people take advantage of most everything being on sale. With all the credit cards people were probably just thinking about paying later and not worrying about the here and now.
I've heard about it on the news, but have not read any further into why people have spent so much more on Black Friday this year. However, I have a hypothesis as to why... Even before the numbers were out, I noticed something strikingly familiar about everybody and their Black Friday. It wasn't so much about what to get everybody else, it was more about what "big ticket" and some other everyday necessities they could save BIG on. There is absolutely nothing selfish or bah humbug about that. If you are going to spend the money on a 50" HD Flatscreen TV, may as well do it with a peace of mind.
ReplyDeleteShow of hands - how many people bought a big ticket item for their home or garden this past Black Friday??
LuShawna G.-Online
ReplyDeleteI believe reguardless of what state the country is in people will continue to spend money, some whether they have it or not. Some look at Black Friday as being a big deal, I don't, I know from experience that if you shop around or purchase open box items, you can purchase items just as cheap.
Amanda O Online in response to sabrina M and sarah Ida -
ReplyDeleteThe fact that sales are higher than last year at the same time period does skew the numbers a bit. All I hear on the news is that the economy is better due to increases in retail sales even tho unemployment was roughly 10% as of today's report. That leads me to believe that what you stated is true. People are either wanting something to look forward to and are thus spending money they don't have or they have saved to take advantage of the deals on Black Friday and Cyber Monday. One thing I noticed is that the deals really weren't that great compared to the everyday prices. I hope that the majority of people didn't fall for the marketing of items that weren't really a great price.
Amanda O Online
ReplyDeleteI think that the rise is sales during that 4 day period is from the top wage earners in America (millionaires +) and then from people that really shouldn't be buying so much but want to cheer themselves up by buying. I think the latter will regret it and end up returning things or just go farther in debt. I don't think things are better than last year.
Guy P on line
ReplyDeleteI agree with Ayanda B. I think people have delayed purchases as long as possible and with the good sales they brought. I work in the retail trash industry and I have not seen a bump up in trash for almost three years. The economy is in bad shape and has at least 2 years to recover.
Jennifer Ashley (online)
ReplyDeleteI agree with the majority of the comments made (I didn't read all of them). I feel that it is a deep part of the American culture to buy gifts this time of year and be extravagant about it. Our economy allows for more borrowing than in the 30's and 40's, so people have greater access to other people's money (their creditor's money). We will just pay for it later. Stores such as K-Mart have brought back law-away, which is an interest free way to "pay along" on gifts. I think that also our social location has a lot to do with whether we are buying gifts or not. The blue-collar works who are unemployed are not going to be buying a lot if any of the the items sold on Black Friday. With more education offered to people in America now as opposed to the early 20th century, there is more money to be spent than in the Great Depression. In addition, there are programs like umemployment collection that can add to a two person family income and allow for a bit more spending. Also, financial health is stressed more now than earlier, so perhaps people have more saved.
Jennifer Ashley online in response to Lindsey Miller.
ReplyDeleteI don't think online students have to respond to traditional students anymore, but it will only take a second, as opposed to a few minutes to find that email our teacher sent out.
It was heartwarming to read your post. It is nice to thank people and remember the ones who have helped you. So many are just so thanksless now. Hint from a 39 year old student peer. Don't forget to save or those people may be helping you again. (My own personal experience.) Happy Holidays All!
LeQuise Cotton-Online
ReplyDeleteFirst of all I don't think is in a "recession." During the great depression people were in soup lines, working for pennies, living on the streets. Nowadays, we are not in those dire straits. People still have cars, cable, cell phones, ipads restaurants and malls are still open. I just believe as far as America's standards of living we are in a recession. That is why people were still going to black friday sales. We as American's have achieved a status of living and we want it to continue. Black Friday to me makes no sense, pushing and shoving to get gifts for people who might not even need or want the gifts you have gotten them. I believe that as long as people put shopping ahead of what is really necessary to survive black friday and malls will always exist.
LeQuise Cotton-Online
ReplyDeleteIn response to Angelyn A
I also feel that some people would rather buy gifts than keep up their mortage. I just don' believe a lot of people's priorities are in order. The way people claim they can't get work and how its hard to survive, a black friday sale is the last place people should be.
Brian B.
ReplyDeleteTTR 6pm
I believe that no matter what situation people are in, they will always try to go all out on the holidays. Maybe a lot of them will use credit cards and regret it later. Some people see the holiday as having gifts as a requirement. They sometimes might just feel forced to not pass up an amazing deal because they might not get another chance to do so. I do however think that this is not what people should do if they can't find jobs and are struggling to stay afloat.
Sharon W. online
ReplyDeleteEven though the country is in a recession and
unemployment average is high, the average
family look forward to this time of year
because it is the most celebrated holiday
around the world. Therefore, people save a
head a time and used store credit on Black
Friday to get good bargains so they can
enjoy the holiday with their family to
have peace, love, and joy.
Lynn - Online
ReplyDeleteI think that the reason sales are up even though we are in a recession is because American are following their leader’s advice and going further into debt. That is the American way, right? If you can’t afford it – charge it. There could be other reasons. Maybe those who have lost jobs have received severance pay and other types of pay outs that they are spending, or maybe some people have been dipping into their savings to live, and Christmas is just another part of living. But I am afraid that either way most are spending what they don’t have to spend, and are going to regret it in the long run. It will be interesting to see what the government will do next year when no one is paying the credit card companies any of the money that they are borrowing at the checkout. Since the retailer can’t say Merry Christmas to customers anyway, maybe they should just say “Cha-ching!”
Kaila C.-Online
ReplyDeleteWith the Christmas holiday coming up everyone was looking for the deals. I have seen this economic recession affect my family and friends even myself. But the fact that I have younger siblings we had to pinch and save for this Black Friday. As the statics show that we spent more money this year but unfortunately we are still in the same states. With this all we can do is keep spending money and pray that the economy changes for the better.
Ashley T.
ReplyDeleteMany people want to be able to give their families the Christmas they have always been able to give in the past. The black Friday sales are the best deals of the year and people are able to get more with less. More people shopped on black Friday to get the great deals that are only this good once a year.
It always shows that people will spend their rent money on items that are wanted instead of items that are needed. It always goes back to things that are wanted and not needed. People spend money they don't have because it easier to put it on plastic that they only have to pay a small increments back. This allows them to get more tiems for less a given time. The only problem is that a lot of the population can't control their spending. They keep wanting and buying without paying off what they have already spent. The economy is what it is and this era will come to pass but times are not getting better just slowly worse.
ReplyDeleteN. LaGrone/Online
ReplyDeleteI think the numbers were up this year compared to last year because this year it was more important to have it better planned out to take advantage of the sales during black Friday. This year America had a better understanding of what the economy was doing, whereas, last year many toward the end of the year were just starting to feel it's effect. In addition, people are starting to obtain employment again and felt black Friday was the best opportunity for their situation.
Donald W. Online
ReplyDeleteI am one the the people that is effected by the unemployment problem in this country. I won't be able to shop this year like I have in the past years. Their are alot of people that are in that boat. Sometimes we as people need to have a culture shock so that we can live in the realilty of todays world. It's not about how much you have to spend but wisely you use it.
Chelsi K.-ONLINE
ReplyDeleteI think that even though the economy is in a bad state, many people are trying to find ways to not let themselves become crippled by it. Entertainment never fails to have the most money incorporated in it. When it comes to the holidays, it's almost as if it has become the biggest social event of the season. Also with this years Black Friday, prices were lowered a lot more because of the economy.
Jillian G
ReplyDeletethe economy might be bad but black friday was still bigger than ever, i went to walmart at 11:40 at night ive never seen more people at walmart ever in my life, first time ive seen all registers open. The holidays are here people are going to spend money weather they have it or not, and prices were lowered quite a bit for big ticketed items.
Emma A.
ReplyDeleteI went to work on thanksgiving night, but on black friday with a sleepy eyes, I dragged myself to target to buy a vaccumm cleaner and a thrower which I have be waiting a whole year for that discount, and it only happen on black friday. Spending money has become a drug, whether we have the money or not that is the American way and people will shop whether the enconomy is good or bad.
Peggy Andrews/on:line
ReplyDeleteAfter reading the statistics on consumer debt and hearing about the high rate of unemployment, I have hypothesized that the National Retail Association has launched a conspiracy, along with the media to inflate this years numbers to convince more consumers to spend, or to not be outdone by last years numbers. After all, our society does have a "keep up with the Joneses" mentality. I still believe consumer confidence is not as strong as it needs to be and spending our way into the Christmas Holidays may not be the answer either.
Zach Bragg TR 6-8pm
ReplyDeletePeople like stuff, they like to spend money and they love love love sales! I think the difference between now and the Great Depression era folk is that this generation of people are much more materialistic, and it is easier to get money that technically you don't have. People also think things will eventually get better, because they have no concept of the future.
Olugbenga A - Online.
ReplyDeletePoor economy motivate peoples to look for goods at discounted price. If there are lots of money in circulation one will not care of shopping anytime of the year.Most people have been waiting for this black friday to come so that they can get most of their needs ones they are on sales.Every one like to get goods at discounted price.
Ashley F.-- Online
ReplyDeleteMy hypothesis on the situation is that people are always going to spend money at the holidays, even if they don't have it. The difference from the 20's and the depression is these little plastic cards everyone has called credit cards! 90 years ago, people didn't spend money they don't have, verses today, people are less afraid because filing bankruptcy has never been easier. The idea of giving Christmas gifts has gotten more out of control every year and the price tags on items have gone up. I am personally not a black friday shopper myself, because I am not going to fight or wait in line to save a few dollars. I also believe these numbers have sky rocketed because of the easiness of the internet. It is easier to loose track of how much you are spending through the internet. Regardless of the depression or recession, people are always going to spend money around the holidays whether they can afford it or not.
Courtney F
ReplyDeleteI think that even though we are in an economic depression people are not spending and going out as much as they used to. People are saving money like never before in fear of not having any money at all.
People still want the best for their kids and companies are doing more black friday specials knowing we are in an economic depression and people are taking high advantage of it.
Response to Chelsi K
ReplyDeleteI agree with this staement and I believe that its bad but people still don't stop the entertainment business.
Chelsea J.-Online
ReplyDeleteHere's what I think happened: In 2008 when gas prices went up, people got nervous. They leveled out in late fall and people realized they had extra expendable money in their pockets. But when the stock market went down so far, people were instantly worried about their portfolios and the money they had lost in investments which caused a recession in the retail world because people were worried about the money they didn't even have in their bank accounts. People started saving the money they saved when gas prices and such started leveling out so that they could have some sort of cushion in case the stock market dropped even farther.
In 2010 you look at the high unemployment rate and you hear all the stories about people still struggling in the recession but look at the stock market. It has gone back up. It has given people a sense of comfort and security that they haven't had in 2 years. This leads them to feel more comfortable spending money.
My other theory relates to vacations as well the retail market. People haven't gone to see Grandma for Christmas in 3 years because they didn't feel they could afford it. However, it has been 3 years since they've been to Grandma's house for Christmas so the sense of obligation seems to be higher. Such is the same with the spending over Thanksgiving weekend. There are things they have wanted to buy but have been reluctant and now after waiting for 2 or 3 years they feel that they should go ahead and buy it now.
Robert P -online
ReplyDeleteI believe that Black Friday sales may have been good. Before looking at the reported sales for a special event, what about the year leading up to Black Friday? Sales have been down all year. Sales were up because everyone was waiting, anticipating, and prepared to make purchases on items that, in some cases extremely, were discounted. With very high unemployment, a weak job market and a housing market still in turmoil the sales (if true) cannot be sustained.
Also, I am very skeptical of any reports from any organization of this type and the government. Unemployment benefits for millions just expired, the government is buying up many of the new cars produced by the US auto manufacturers ( makes the auto sales look better than they really are), there is absolutely no reason for the stock market to be as high as it is now, and our national debt is going through the roof! How can things be getting better?
Ronesia I.-Online
ReplyDeleteI believe whether people have the money or not they will find ways to catch sales. They may borrow from someone or take out a loan. During the holidays I feel that's when people tend to go into debt or further into debt. I have to admit i'm a black friday shopper, this year the prices were so low on items that I couldn't help but to get them. So I can see why the sales were so high.
Ronesia I.-online
ReplyDeleteIn response to Courtney B.
I agree with you that people want to be happy during this time of year. They don't want their kids to see that their struggling or unhappy, let alone left out.
I agree that this holiday is recession proof. People save up their money for this holiday. No matter how bad the economy,this holiday will be still around
ReplyDeleteJULIAN .E.- ONLINE
ReplyDeleteThe way I will interpreted this problem is that regardless of the economy situation, people will still shop at this particular time of the year. Because to some people it has become a tradition that is inevitable, while to other people they feel that they are getting a good deal, despite they know that they are incurring more bill and unfinished debt .
Jessica V-online
ReplyDeleteThe way I interpet this is no matter how many people are hard up for money, they are going to enjoy the holiday. People could have been saving for the black Friday sales. Some stores had really good deals , and it saved people a ton of money. I do believe our economy is getting better little by little. I was not able to participate in the black Friday sales this year, but I have been saving my money to give my kids a Christmas.
Lauren G.-Online
ReplyDeleteThe way I interpret this is that even if the economy is low and struggling, people will still shop on black friday no matter what. Even if there are terrible sales, people are going to take their whole weekend and buy things. Its tradition, and no one likes breaking traditions. The economy could be nonexistent and we will still see people shopping on black friday weekend. Many just want those good deals.
Anita D. Online
ReplyDeleteIn my opinion regardless of if you're in a recession or not Christmas gifts still have to be bought to keep a smile on children faces and to make the best of the holiday experience that you can with what you have. I feel black Friday shopping is for smart shoppers. On this weekend items that you are planning on buying anyway is marked down and could save you three times the amount you would be spending otherwise. In some cases you may just have to wake up very early or not go to sleep at all, but I think it's worth it. And for those who don't have as much to spend for this season you can get better quality things for what you do have. It is very understandable why the number of shoppers are increasing around black Friday.
Anita D. Online
ReplyDeleteIn response to Olugbenga A
I certainly agree with you, if there were tons of money in circulation there wouldn't be as many black Friday shoppers because people will have money to blow anytime of the year. Since that is not the case people actually wait for this to get certain necessities. I got my first laptop for school during black Friday so I am a victim.
Deborah G online
ReplyDeleteI do not understand why shoppers were spending so much money this year. We have had a lot of problems with the economy. Some people are better off though and still can spend the money. Its a tradition to shop the day afetr thanksgiving and to go all out fr christmas, but the sad thing is, that many will go into debt after its all done.
Anna G.- Online
ReplyDeleteI believe that when it comes to the holidays, people seem to completely forget about the state our economy is in. The holidays have become so commercialized that people have completely forgotten about the true meaning of Christmas. We are all so concerned about getting that perfect gift and having the best Christmas decoration on the block, but once January rolls around, we faint when we see how much MORE debt we are all in. Maybe if we kept it to a bare minimum with the holidays, we would remember it is a time of family and loved ones.
Angela A.
ReplyDeleteI think the retailers have recognized the lousy shape people are in and made their prices too good to resist. I think it gave a lot more people the ability to make purchases.
Linda S.
ReplyDeletePeople find ways to get preasents for the holidays because they feel presure. I belive that people put themselves in debt because they dont want to have others look at them for not getting a gift for anyone despite weather they have money or not.
David F. Online.
ReplyDeleteI am not at all suprised to see the shopping numbers drastically up last years holiday season. I myself feel that our country is in alot better economic state than is being adverstised. I don't understand why, but for some reason I think some people in our country is covering up the fact that our country is doing better.
Beth M-Online
ReplyDeleteThe easiest explanation is that with our economic situation, a great deal of the population has filed bankruptcy. Once out of debt, hitting reality that you can live on a lot less; such as less house, less car payment (or paying cash for a clunker), no credit card debt...you just have more money to spend. I suspect those who are thankful from feeling depressed due to so much debt are splurging a bit with CASH!
Taneshia C -Online
ReplyDeleteIn response to Angela A
I agree with you 100% The prices this year is lower than is has been in the past especially on electronics. I bought my first laptop this year at a great price. I had enough money saved to buy one at the $500 price, however I got one for $200, so I used the extra savings to buy other stuff I need for my children's Christmas. It works out wonderful for me.
Donnie F.
ReplyDeleteMy hypothesis is that NO MATTER HOW BAD(within reason of course) the economy, and job market seem to get, there's one thing that we as Americans typically love to do: SHOP.
OMG! NO TAXES TODAY WHEN I SHOP?! who wouldn't go out and save some extra money.
I mean how often do you get to buy new products tax free?
Steven Thompson-Online
ReplyDeleteI interpret this information by the simple fact that since people do not have a lot money so they wait for the good deals. Instead of spreading out their shopping throughout the year they are doing it all at one time. Plus they are not just buying for themselves but for others because of the holidays.
Tracey D. Bailey
ReplyDeleteI can agree with the two ladies before me Taneshia and Anagela. I believe that this years prices on Black Friday made it easy for the employeed and unemployeed to benefit. I am on a budget and never thought I would be able to afford a flat screen T.V. I was expecting to pay almost $600 but due to the great sales this year i was able to afford a 32 inch for only $200. I still thinks the ecomomy isn't doing well but when the resaler drop thier prices like on Black Friday that will bring money back into the store and give people hope that the ecomony is getting better.
Daria Glukhikh - On-line
ReplyDeleteI think there are several reasons.
First - people ait for great deals to get stuff for themselves as well as Christmas presents. Second - people are stressed and use shopping as a relief, even without money -you have credit cards!
The last reason, I think, is that people are less stressed than last year due to fewer mass media postings and reports on critical situation, and people gradually getting their jobs back.
Nicholas L - Online
ReplyDeleteMy interpretation of the increase in money spent during this year's Black Friday is optimistic. I really do believe this is a small, albeit influential, sign that consumers are buying into (no pun intended) the thought of an economic turnaround. While some may contribute the large amount of spending to the deals consumers are offered, I really do think this pickup in revenue shows that the US is on the way to an economic recovery.
franklin chapman-online
ReplyDeletehonestly i think the economy is somewhat improving slowly, and another part to my hypothesis is that people are starting to not care as much and spend more, since prices are dropping, people pockets are opening. just in general people arespending more money and making more money. Another thing is that i think people may also realize that for people to be making money someone else has to be spending it to keep the cash flowing. if people wopuldnt keep holiding their money then the economy would improve, but people care too much for themselves to try to help anyone else or the economy, even when they have more than an abundance.
The economy is really bad at this time. For some people it is the worse time of their lives. Where as with others when you have had to struggle all your life this just appears to be normal living. Some people actually put a little money aside just for Black Friday and therefore with all the sales this year they were able to join in on the sales and perhaps made this year a better year than ever before.
ReplyDeleteJamie K.- Online
ReplyDeleteI definitely agree that even though the economy is struggling really bad, people want to enjoy the Holidays. They want to buy their kids and family members gifts, and the best day for deals is Black Friday. Most people set aside a certain amount of money they will spend on gifts and black friday allows you to get more for your money and get great bargains!
Jamie K. Online In Response to Kourtney C.
ReplyDeleteI couldn't agree more! Everyone wants to enjoy the holidays!
Timmy T.
ReplyDeletePeople are still going shopping during Black Friday no matter what because everyone wants to get the best deals for presents during the sales so that way they don't have to pay a greater price later or not buy the item at all. Even in the status we're in now. It will not change anything.
Heather D-
ReplyDeleteI don't think people have been saving up money and are now ready to spend it. I think people are SO sick of not being able to spend and being terrified over the last couple years that they have now said "screw it. I want that, I want that, and I don't have any money so I'm gonna charge it"!!!
Kavi G.
ReplyDeleteIn my opinion I believe the holidays are viewed as spending money. Halloween, candies, parties, and buying a custom for yourself or kids are expensive. Thanksgiving, cooking a feast to fill your friends and families bellies cost money. Christmas, the holiday known for receiving gifts has to be the most expensive holiday. We have been practicing these traditions for centuries, almost as if we already know having to spend money is a way to celebrate even in these hard times.
Nathan Fawcett
ReplyDeletePeople are most likely trying to make up for a crappy year, by going all out for the holidays.
Linda M. Online
ReplyDeleteI think that people still want to enjoy the holidays, therefore this one time of the year is special. They have went without all year maybe just to be able to have a happy holiday.
Maureen O. Online
ReplyDeleteEventhough we are in a great recession, people stil want to be happy by shopping for the things they need ona black friday while saving some money. Even though alot of people are hurting, they don't mind using their credit card to shop for their families christmas gift just like I did.Hard times or not, we got to find a way to make the kids happy.
Maureen O. online
ReplyDeleteresponding to Angelyn A.
Ido not believe that people have been saving because an unemployed person can't save. I just think that people have finally decided to make theirselves happy by shopping in other to enjoy this holidays.
LaVette M-Online
ReplyDeleteI think that yes there is a recession, but alot of people have been saving ag putting up money just for this big shopping and sale day. Black Friday is Christmas for some. Most people who arent in those high tax brackets are still living the same as before, while the people who are used to making 100,000 plus a year had to cut back more than others. I believe that shopping is like therapy for some, and on Black Friday that got the therapy they needed all year.
Amanda D.
ReplyDeleteOnline
I feel that people are still suffering from a shambled economy, but some act like it's no big deal during the holiday season. Most people probably spent money they didnt really have in order to buy christmas for their families. Most people took advantage of the black friday deals. I still feel that no matter what the statistics say and show our economy still needs a lot of work.
Amanda D. Online
ReplyDeleteIn response to Ayanda B.- Online
I agree that most people seemed to have taken advantage of the black friday sales. I also agree that most probably spent money that they really didnt have and I fear that a lot of people probably have racked up some credit card debt this holiday season, which we all know takes forever to get out of.
OYEBOLA ONLINE
ReplyDeleteTHE KEY WORD IS THAT THOSE THAT HAVE THE MONEY WANTS TO KEEP HAVING AND THOSE THAT DONT, DONT WANT TO GIVE UP TRING.I BELEIVE THERE IS MONEY IN THIS COUNTRY;CIRCLATIONOF THIS MONEY IS WHAT NEEDS TO BE FOCUSED ON.
OYEBOLA O. ONLINE
ReplyDeleteIN RESPONSE TO MAUREEN
I DONT SEE THIS PRESENT ECONOMIC SITUATION AS RECESSION; BUT I SEE IT AS A MELTDOWN OF WEALTHFROM THE FROZEN GREEDY HANDS OFTHE GOVERNMENT.MY ADVISE IS AS IT MELTS, PRAY THAT IT MELT DOWN YOUR PATH.WINKS WINKS