Black Friday can bring people together, improve the economy
On Friday, consumers throughout America participated in the first shopping day of the holiday season, known as Black Friday.
Numerous stores such as Wal-Mart, Kmart, JC Penney and Macy’s opened their doors to the public at 5 a.m. or earlier to give consumers the opportunity to get great deals on holiday gifts for their loved ones.
Randy Holley is a 23-year-old sales associate at Finish Line in Oakland Mall. He said Finish Line opened their doors at 3 a.m. on Black Friday.
“When I got to the mall, there was a line for all the major department stores. Some people came in groups,” Holley said. “That day was a hectic one. Finish Line stayed busy from the time I got there until I got off at 1 p.m.”
Senior Amaris Evans, an education major, said she believes the holiday season unites people.
“I’ve worked retail before on Black Friday and it can be very chaotic, but it’s also kind of exciting to see so many people shopping for their loved ones,” Evans said. “On Black Friday I was in the bed until 11 a.m. Getting up early on a Friday doesn’t appeal to me.”
James Saunoris,faculty member of the Department of Economics at EMU, said Black Friday can effect the economy in a positive manner.
“The low prices offered on Black Friday benefit the economy by enticing consumption,” Saunoris said. “If consumers are purchasing more than they otherwise would, there will be a boost in national income. If demand is greater than expected it encourages producers to expand production and increase employment. The additional savings brought about by the lower prices will then serve to boost demand in other areas of the economy, or benefit long-run economic growth if saved in the financial markets.”
Saunoris also said Black Friday can benefit the producer and the consumer. He said consumers will benefit from paying lower prices for valued products. In turn, producers benefit from increased demand for products. This helps deplete inventories and encourage production.
Senior Trellis Lane, an industrial distribution major, said Black Friday has lost its value because some stores reduced their prices for the holiday season on Thursday instead of Friday.
“The joy of shopping isn’t the same anymore,” Lane said. “People are in a rush to eat and just go shop all day. I was working at Sam’s Club on Black Friday. My coworkers and I were feeling like it was regular day because there was no action in the store.”