Traditionally, Black Friday begins after Thanksgiving Day. Thanksgiving Day is a North American holiday celebrated on the 4th Thursday of November. Americans thank the Lord for the harvest, which helps all residents of the country survive. The religious holiday was founded in 1864 by President Lincoln. In the 21st century, Thanksgiving is more of a family holiday — a precursor to Christmas and New Year.
Black Friday, in a way, is also a holiday. Because only on this day do people around the world have a chance to buy necessary items in stores at very attractive prices. Often, products are sold below cost price. For entrepreneurs, Black Friday is a great opportunity to get rid of unliquidated goods.
Black Friday 2019: Preparation
The most interesting thing is that approximately 90% of sellers worldwide use Black Friday to profit by deceiving buyers. 1-2 weeks before the holiday, stores inflate prices for certain categories of goods. And on the “D” day (Black Friday), they demonstrate unprecedented discounts. As a result, only the buyer loses. The entrepreneur sells products with the same markup percentage.
And, to prevent such deception of oneself, measures of caution should be taken now. We offer a ready solution — how to buy the necessary product at the minimum price.
| Step 1 | Make a list of products that the buyer plans to purchase on Black Friday. |
| Step 2 | Browse 5-10 online stores and note the prices for each product. Focus on brand and specifications. |
| Step 3 | Visit local stores in your city and also note the prices for the items of interest. |
| Step 4 | Wait for November 27, 2019 — the day when all stores announce grand discounts on their products in honor of Black Friday. |
| Step 5 | Compare current prices with previous ones and calculate the discount percentage. Then compare the calculated percentage with the discount indicated by the seller. |
| Step 6 | Identify the seller who honestly indicates the discount percentage and offers the lowest price. |
| Step 7 | Buy the necessary product, check its integrity (newness, functionality). Ensure the presence of a warranty card for the product. |
Black Friday: Maximum Benefit?
Some may find such an algorithm complicated. But only this way can a buyer guarantee to get the required product at the minimum price (at cost or lower). Black Friday is a gift from fate for all entrepreneurs wishing to get rid of unliquidated stock and quickly convert goods into money. Therefore, buyers should not relax. They need to clearly understand — is the seller honest with the consumer.
Almost all entrepreneurs from the countries of the former USSR are predisposed to deception. Russia, Kazakhstan, Belarus, Ukraine — businessmen will not allow a loss of profit. And you should be prepared for this. In Europe, the USA, China, entrepreneurs are somewhat more relaxed about the lack of profit from markups. They prioritize clearing out unliquidated stock and updating their assortment with new products. Maybe someday in Slavic countries, there will be a shift in entrepreneurs’ mindset. But it will not happen soon.
