Every year, seasonal promotions come back, and every year,
consumers wonder: should I buy or should I not?
Originally a Northern American concept, gravitating around the
Thanksgiving holiday, Black Friday is now synonymous with sales even
in parts of the world that do not celebrate Thanksgiving. Why?
Primarily because consumers are always savvy and looking for
discounts and sales. In fact, most consumers find it difficult to
resist discounts. The larger the discount, the more consumers will
consider a product or service, even if they do not really need the
product. There is also a social influence component to explain the
success of these types of sales. Buying is often related to
displaying one's power and status. Therefore, if every one else is
buying, that is displaying their power and status, one will
certainly want to compete and do the same!