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FLPanhandle

(7,107 posts) Mon Nov 24, 2014, 12:23 PM Nov 2014

Article: Black Friday highlights the contrast between rich and poor

http://www.latimes.com/business/la-fi-black-friday-class-divide-20141124-story.html

Increasingly, the seasonal shopping surge has become a window into America's class divide, in which high earners have benefited from a booming stock market and rising home prices as many others still grapple with stagnant incomes and lingering financial anxiety.

Consider these opposite scenarios: In 2013, Bloomingdale's went against the grain by offering fewer Black Friday bargains than the year before, according to the advertising experts at bestblackfriday.com. At a Wal-Mart in Duarte, customers elbowed one another to get their hands on Crayola crayon sets, marked down to $11 from nearly $20. (A trending Twitter hashtag last Thanksgiving was #WalmartFights.)

"You have people who really need a bargain — they will sit out for two days to get that deal because that may be the only big thing they can afford for the whole family," said Britt Beemer, founder of America's Research Group. "Luxury retailers don't do very well on Black Friday because their customers are not going to fight the crowds."

As for the poor the article states "Once they have spent their budgets, they are done," Perkins said. "Retailers know if they get them first, they may not have anything left to go to other stores."

So, it looks like Black Friday is about which store is getting the lower income Holiday budget quickly.

7 replies

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Article: Black Friday highlights the contrast between rich and poor (Original Post) FLPanhandle Nov 2014 OP

It's not as if everyone who is low income shoots there upaloopa Nov 2014 #1

And indeed, the article does not claim that. Gormy Cuss Nov 2014 #6

Basically that is what my daughter, HockeyMom Nov 2014 #2

Although Bloomies offers the best (I mean, the ABSOLUTE BEST) in clearance ScreamingMeemie Nov 2014 #4

My mother taught us that is is better to by standard blouses at Bloomies malaise Nov 2014 #5

My family went to look at what is up for grabs in WM. They decided they were not in need of any of jwirr Nov 2014 #3

I'm working black Friday and not shopping Johonny Nov 2014 #7

upaloopa

(11,417 posts)

1. It's not as if everyone who is low income shoots there

Reply to FLPanhandle (Original post)

Mon Nov 24, 2014, 12:34 PM

Nov 2014

spending wad on Black Friday.
This article seems a little off the cuff.

Gormy Cuss

(30,884 posts)

6. And indeed, the article does not claim that.

Reply to upaloopa (Reply #1)

Mon Nov 24, 2014, 01:14 PM

Nov 2014

Rather it's pointing to the difference between retailers catering to bargain shoppers and those catering to the less price sensitive. The former are opening on Thanksgiving and offering lots of door-buster deals on Black Friday, presumably because their marketing tells them that's how they'll garner the most sales revenue. The latter don't see a competitive advantage to opening on the holiday because their clientele aren't interested in camping out in the store parking lot to save a few bucks.

Two Americas.

HockeyMom

(14,337 posts)

2. Basically that is what my daughter,

Reply to FLPanhandle (Original post)

Mon Nov 24, 2014, 12:46 PM

Nov 2014

who works at Bloomies, says about Black Friday and them not opening on Thanksgiving. Their customers are not lining up outside looking for dirt cheap bargains on Black Friday. Why would they right on Thanksgiving? Different cliente with a different mindset.

Since she works in Loss Prevention (shoplifters), her actual job does get busier at this time of the year though.

ScreamingMeemie

(68,918 posts)

4. Although Bloomies offers the best (I mean, the ABSOLUTE BEST) in clearance

Reply to HockeyMom (Reply #2)

Mon Nov 24, 2014, 12:51 PM

Nov 2014

deals year round. When they wanna get rid of something to make way for the new season's styles, they slash prices ridiculously low. I only shop Bloomies' clearance racks. Fun side note: I also write their PDs for their online presence.

malaise

(269,004 posts)

5. My mother taught us that is is better to by standard blouses at Bloomies

Reply to ScreamingMeemie (Reply #4)

Mon Nov 24, 2014, 12:52 PM

Nov 2014

sales than to buy cheap crap at KMart.

jwirr

(39,215 posts)

3. My family went to look at what is up for grabs in WM. They decided they were not in need of any of

Reply to FLPanhandle (Original post)

Mon Nov 24, 2014, 12:47 PM

Nov 2014

the big items and would skip Black Friday all together. They will shop for smaller items after all the craziness is over. I think for a change they are actually using their heads.

I have two daughters and their families. I would like to buy something that I could give them - one thing for each family - that they all can enjoy.

Johonny

(20,851 posts)

7. I'm working black Friday and not shopping

Reply to FLPanhandle (Original post)

Mon Nov 24, 2014, 01:15 PM

Nov 2014

So there's your difference

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