Black Friday is not the same as it was Discount campaigns are getting longer, while purchasing power has decreased

Not everyone knows that Black Friday was born in the United States at the beginning of the Sixties, as the day immediately following Thanksgiving, and only starting from the early 2000s did the commercial event spread to the rest of Western countries. Historically, the event marked the beginning of the Christmas shopping season and became established thanks to the strong promotions proposed by individual retailers. If originally Black Friday "made the news" mainly for the fierce competition among customers in stores (especially electronics stores, where many consumers devised strategies to grab the most requested products), with the rise of e-commerce and the evolution of consumption habits, the event has gradually changed nature, becoming increasingly tied to the digital dimension.

Furthermore, the Black Friday discount period has greatly expanded in recent years: many stores, both online and physical, start promotions even before the official date, with initiatives such as Black Week; the offers then often continue in the following days. Many stores, driven by growing demand, have ended up extending the duration of the discount campaign so much that for several years now, even in Europe, people even talk about Black November.

How Black Friday is experienced today

The ongoing change concerns not only the way consumers shop or the corresponding time frame, but also their purchasing power. According to a recent report on Black Friday, today 50 dollars are worth just over half of what they were twenty-five years ago, when they allowed people to buy many more items. The reduction in purchasing power also affects the perception of deals. In the early 2000s, 50 dollars were enough to buy several items, fueling enthusiasm for Black Friday, whereas today the same amount often allows one to buy no more than a single product. This economic contraction does not only concern the quantity of goods that can be purchased but also impacts the way people psychologically experience the shopping event.

A study conducted by The Social Hub, an organization that among other things manages student residences, together with the polling institute YouGov, helps clarify the issue. The study involved over two thousand Italians and shows that in the country more than half of respondents fear that the day could end up encouraging a compulsive relationship with shopping. The younger generation, especially those aged 18 to 24, seem to experience Black Friday with greater psychological pressure – the study highlights. According to the research, almost one in five people in this age group claims that the event has negative consequences on mental health, to a greater or lesser extent – especially in relation to economic vulnerability.

Criticism of Black Friday

The fact remains that Black Friday has for years been considered a rather controversial phenomenon: thanks to widespread discounts, many consumers end up buying products they do not always really need, at a time in history when – for environmental reasons – it would be more appropriate to promote the reduction of waste. Moreover, in various countries, the commercial event is often accompanied by controversies over the working conditions of warehouse employees, whose workload intensifies during this period. It is no coincidence that the companies that earn the most during the discount period are the major shopping platforms, such as Amazon, which played a crucial role in helping introduce this custom also in Europe.

These findings suggest a growing need for initiatives that allow people to experience the commercial event in a less frantic way. Faced with this context, projects that promote more authentic shopping experiences – as well as direct relationships with local areas, artisans or local stores – by offering an alternative to the pressure of online shopping are gaining greater relevance and consideration.