Thread by Codie Sanchez
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- Nov 23, 2022
- #Shopping #Marketing #Business
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Black Friday saw 155M shoppers in 2021.
$8.9 billion was spent online.
But you should know... it's mostly a scam:
$8.9 billion was spent online.
But you should know... it's mostly a scam:
THE HISTORY
“The best way to save money is to not buy sh*t you don’t need.”
– Ben Franklin, probably
The origins of Black Friday are fittingly foreboding and very American.
Let’s dive in:
“The best way to save money is to not buy sh*t you don’t need.”
– Ben Franklin, probably
The origins of Black Friday are fittingly foreboding and very American.
Let’s dive in:
1869 - The name “Black Friday” comes from the gold market crash.
Two Wall Street bros of the time bought up most of the US gold to artificially drive up prices (FTX who?)
Bonus - creepy 1800s meme about the scandal:
Two Wall Street bros of the time bought up most of the US gold to artificially drive up prices (FTX who?)
Bonus - creepy 1800s meme about the scandal:
1950s - Philadelphia started the annual Army/Navy football game the Saturday after Thanksgiving.
The day before the game, crowds started flocking to the city to spend a sh*t ton of $ on Christmas shopping.
‘Merica.
The day before the game, crowds started flocking to the city to spend a sh*t ton of $ on Christmas shopping.
‘Merica.
1966 - Retail stores in the Philly area played up the crazy shopping with huge sales.
The whole ordeal became a huge headache for local police.
They officially started calling the day “Black Friday” in hopes it would spook people out of shopping.
(Didn't work)
The whole ordeal became a huge headache for local police.
They officially started calling the day “Black Friday” in hopes it would spook people out of shopping.
(Didn't work)
1980s - Retailers reclaimed “Black Friday.”
The name had caught on in the 50s, but retailers didn’t love it.
A little too… harbinger-of-death sounding.
But by the 80s, the term got a makeover.
Stores made up this successful myth about the origins of the name:
The name had caught on in the 50s, but retailers didn’t love it.
A little too… harbinger-of-death sounding.
But by the 80s, the term got a makeover.
Stores made up this successful myth about the origins of the name:
Thus, Black Friday became the national holiday we all know & hate.
But the story far from ends here…
But the story far from ends here…
THE SALES
The conspiracy theorist in me wants to say retail jacks up prices in early Nov so the sales look extra good.
May or may not actually be true. When you add up all the killer sales and total rip-offs…
Black Friday savings average out to somewhere around 12%
The conspiracy theorist in me wants to say retail jacks up prices in early Nov so the sales look extra good.
May or may not actually be true. When you add up all the killer sales and total rip-offs…
Black Friday savings average out to somewhere around 12%
THE CONSUMERS
In-person Black Friday shopping dropped 28% in 2021 from 2019 pre-pandemic levels.
But you can bet your Amazon Prime account it’s been made up for in online revenue:
In-person Black Friday shopping dropped 28% in 2021 from 2019 pre-pandemic levels.
But you can bet your Amazon Prime account it’s been made up for in online revenue:
On top of that:
• 60% of Black Friday shoppers say they regretted their purchase
• Men’s regretful buys cost 2x those of women
• Gen Z the guiltiest shoppers at 67%
• 60% of Black Friday shoppers say they regretted their purchase
• Men’s regretful buys cost 2x those of women
• Gen Z the guiltiest shoppers at 67%
THE MAYHEM
Black Friday brawls: great for media.
Not quite as common as you'd think.
(But if you're in the mood to lose all hope for humanity: blackfridaydeathcount.com)
Still concerned about a fractured skull over new AirPods?
Steer clear of these states:
Black Friday brawls: great for media.
Not quite as common as you'd think.
(But if you're in the mood to lose all hope for humanity: blackfridaydeathcount.com)
Still concerned about a fractured skull over new AirPods?
Steer clear of these states:
THE CONCLUSION
Mindless consumerism isn’t cute.
What if we spent the time & money on cash-flowing investments instead of bad Christmas presents...?
Mindless consumerism isn’t cute.
What if we spent the time & money on cash-flowing investments instead of bad Christmas presents...?
This holiday season: Invest.
• Invest in skills.
• Invest in education.
• Invest in yourself.
When the time is right, invest in your own business.
• Invest in skills.
• Invest in education.
• Invest in yourself.
When the time is right, invest in your own business.
Happy Holidays, Contrarians.
If you’re gonna spend money, don’t do it on something stupid...
Contrarian Thinking is doing an anti-deal in defiance of everything Black Friday.
The details of which I'm saving for tomorrow's newsletter (don't miss it).
contrarianthinking.co/join
If you’re gonna spend money, don’t do it on something stupid...
Contrarian Thinking is doing an anti-deal in defiance of everything Black Friday.
The details of which I'm saving for tomorrow's newsletter (don't miss it).
contrarianthinking.co/join
