The New Black Friday & The Death of Retail
So another holiday shopping season has started and the lauded Black Friday has come and gone in the retail industry. I can recall back to my younger days when I worked retail and dreaded Black Friday. I can remember having to get up at 3:00 AM to go to work since the store was opening at 6:00 AM and you had to go and get everything ready. I can remember when they would open the doors and the flood of people trying to get in to grab some of the best deals of the season. Stock would fly off the shelves in record time and it would take days for inventory to recover.
Gone are the days where people waited in line for 2 days for the amazing Black Friday sales. Now many stores open on Thanksgiving Day and the bargains are not so much bargains anymore. I can remember a family tradition my wife and I started where we would drive around just to see the lines of people waiting to get into places like Best Buy and Toys R Us. You would see hundreds of people and lines that would wrap around to docking bays behind building. It was a festive affair as news crews and radio programs would be on site and employees would be passing out snacks and hot chocolate.
We drove by these stores this year in the early afternoon. There were maybe 3 tents outside Best Buy and no one outside of Toys R Us. These stores and even the shopping malls opened a 6:00 PM on Thanksgiving Day and were even open through 1:00 AM Friday morning. We even drove to the mall at 9:00 AM on Black Friday to find plenty of parking still available where in years past, you would have been lucky to find a spot in the grass to park.
Even the deal busters seem to be gone this year. Many of the Black Friday ads showed only minor discounts of maybe 20% here, 25% there. Much of the higher discounts were on low ticket items that didn't mean much. Gone are the deals where you could get high end TVs at 75% off which is what drove people to the stores in the first place. Even looking at Cyber Monday the deals just didn't wow me this year. Many of the discounts were just free shipping or just a few dollars off which really didn't make me want to buy right now.
I guess it shows that the retail industry as a whole is really continuing to struggle. I would expect many of the long time retail chains such as Sears and JC Penney's will not survive to see another season as there is a lost touch of focusing on driving customers to your store and getting them to buy. Of course much has changed in this day and age. No longer do you see dedicated sales employees as the idea of commissions employees has almost all but faded into obscurity. Most employees could care less what you purchase if you even purchase at all but I guarantee if you tied their paycheck to it, the results would be much better overall. One retailer took this to heart, Dillards, even their clothing associates were commissioned sales people (I assume they still are but do not know for sure). When you walked into the men's clothing section at Dillards you are almost attacked by sales people asking if they can be of assistance because they know they have a quota to fill and need to ensure sales are flowing, therefore they are motivated.
It's my hope that at some point, the retail industry will wake up and realize what it has lost before it's too late and we can prevent the loss of many more of the retail chains we all grew up with and enjoyed.