Black Thursday......bad idea.

Discussion in 'Off Topic' started by 13Gigatons, Nov 14, 2012.

  1. Corporate Thug

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    except not picking these losers would have made a lot more people into losers. Laissez-faire is an antiquated notion that does not make much sense in a global economy based on credit markets.

    I don't think Mr. Smith knew what a credit default swap was when he advocated this position.
     
  2. OverVolt

    OverVolt Lifer

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    All the black friday deals are like, limit 5 per store. The number of people tricked into thinking they are going to get the $200 fully decked laptop makes it not worth the effort, since something like 200 people will show up all completely convinced THEY will be the ones to get the laptop. If you aren't the first like 30 or so in line you might as well leave.
     
  3. OverVolt

    OverVolt Lifer

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    Okay thats fine but its not capitalism then.
     
  4. ch33zw1z

    ch33zw1z Lifer

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    * corporations infringing on our holidays. If 5am Friday isn't early enough, then * off.
     
  5. slag

    slag Diamond Member

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    I don't dislike black friday, I dislike the fact that retailers can advertise low prices, but then only have 2-3 of the item in stock at that price. That's bullshit. If you price something low, you better have the stock on hand, or give out rainchecks for it. This would eliminate the waiting in lines, the rush to the door, the sheer DANGER of the whole mess that retailers bring upon themselves.
     
  6. Corporate Thug

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    Sure it is...it's not just 100% Laissez-faire capitalism.


    http://en.wikipedia.org/wiki/Regulatory_capitalism

    Why is it that we can regulate utilities (and I would imagine oil) and it's still capitalism but once we regulate banks it's no longer capitalism? The credit market is the lifeline of not only this country but the global economy.
     
  7. Corporate Thug

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    Those door busters are sold at cost or (more commonly) at a loss. The whole of the door busters is to get people in the store to by other stuff. The margins are very thin on black friday...if the door busters were available at normal quantities or thru rain checks, the stores would suffer huge losses.
     
  8. jagec

    jagec Lifer

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    Maybe there is a "single-drop rule" when it comes to capitalism. The minute a single regulation is written, it is no longer capitalism and must be called something else.

    I mean, OverVolt must have some pretty serious credentials, or he wouldn't be proposing a definition that flies in the face of what every economist on earth has been using for centuries.
     
  9. OverVolt

    OverVolt Lifer

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    He probably has a job that wouldn't exist without regulation. Whose bread I eat his song I sing. I've had that impression about him for awhile. The economists totally saw 2008 coming in their models and whatnot. Their credentials have alot of credibility I suppose you could say.
     
  10. Franz316

    Franz316 Senior member

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    Forcing people to work Thanksgiving night? I guess that's a reflection of where our priorities are as a culture. I think it is pretty disturbing and sad. But then again, since when does the market have even the slightest consideration for people's well being? It never has because it can't afford to.

    Open the stores Friday morning and be done with it.
     
  11. Corporate Thug

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    Just curious, have you ever worked retail? Most retail employees chomp at the bit for the extra pay.
     
  12. slag

    slag Diamond Member

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    Sold at cost.. Seems fair to me, since it is black friday. Just don't sell 2-3 of the item, make more of them available. The person is already in the store then, now sell them the blu ray player, glasses, stand, etc, and make your money on that. They do it with everything else. I always see multiple islands of movies, not just one or two. I want to get the SAMS club 65 inch TV, but no way in hell am I driving 50 minutes there the night before to stand in the cold, just to get a TV. Now, if they had hundreds of them for that price, I'd go in around noon and pick one up and probably shop a bit more while I'm there.
     
  13. preslove

    preslove Lifer

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    I only ever go to BF sales in the afternoon for small ticket items that will probably survive the morning rush. I picked up a really nice 4D mag lite for $10 one year at lowes and the shopping experience wasn't bad at all.
     
  14. Corporate Thug

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    Sold at cost meaning the cost that the store purchased them for...that doesn't take into consideration the costs associated with running to the store. Selling these items at cost = loss. Selling these items below costs (which is the case for the bigger ticket door busters) = bigger loss.

    The loss of the games/dvds is much less. The store may take a 3 or 4 dollar loss on a blu ray movie on black friday, but may lose hundreds on a tv deal.

    Again, the margins are razor thin. I've worked retail on two black fridays...if we are in the black, even by a few percentage points, it's considered a very successful day. It's quite common to end up in the red.
     
  15. OverVolt

    OverVolt Lifer

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    They lose money on the black friday deals. It just brings alot of people to the store. People pile their cart full of items that just had the price raised by 1-5%++ last month. I remember looking for a brita pitcher in August for $19.99 and it was $26.99 on black friday last year, stuff like that.

    I remember seeing people shove their carts full of a TV I had actually bought for $268 and it was now $288, but it was on the end with a really big price as if it was on sale. It generates alot of hype in the actual store and people do crazy stuff. Actually go to a store on black friday before noon and see for yourself.

    The price ramping for the holidays has already begun. I generally buy alot of gift cards if I don't already have gifts for everyone at this point with the explicit instructions to enjoy the good deals in January/February.
     
    #65 OverVolt, Nov 14, 2012
    Last edited: Nov 14, 2012
  16. preslove

    preslove Lifer

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    :confused: Then why do it at all?

    What store (if you don't mind) are you talking about?
     
  17. Corporate Thug

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    They don't do it w/ the intent of ending up in the red, sometimes it just ends up that way if they can't sell the high margin accessories w/ the TV, PS3, Xbox, etc.

    Also, even if the margins end up in the red, it's a huge revenue boost for the quarter.

    It was best buy.
     
  18. preslove

    preslove Lifer

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    That makes sense.
     
  19. OverVolt

    OverVolt Lifer

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    BBY is doing well I hear. With their high margin accessories and warranties. :)

    Last time I was in the store there were more employees than customers, which I think means things are going pretty well if they can afford that!

    Anyway sarcasm aside, people complaining on black friday about not getting the deal and taking up tons of employees time and the mass-returns and broken/stampeded merchandise also take their toll on the bottom line.
     
  20. cronos

    cronos Diamond Member

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    Keep the shopping online.

    Save money while saving time, energy, and sanity!
     
  21. OverVolt

    OverVolt Lifer

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    Yea good idea, online did have the best real deals. Last black friday people were like scooping up shit off the shelf that wasn't even on sale and shoving it into their cart. BBY didn't have such hype though, the employees were actually tamping down the hype by talking way too much to the customers. I visited several stores just to observe, I was bored.
     
  22. GagHalfrunt

    GagHalfrunt Lifer

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    I really wish Black Thursday/Friday was only held in areas with freezing rain, marauding street gangs and random tiger attacks. Make it as inconvenient, unpleasant and dangerous as possible so that people might finally evolve enough common sense to stop wasting 10 hours outside a store to hopefully get a chance to save $20 on a TV.
     
  23. Exterous

    Exterous Lifer

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    From what I have seen holiday pay is coming down significantly and often being done away with. Some still increase earned time off for working holidays but its not nearly the boon it was 8 years ago
     
  24. jagec

    jagec Lifer

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    Saying that overregulation/misregulation is a problem and can lead to inefficiencies and misallocations of capital is different than saying that having regulations makes something not be capitalism anymore.

    Private ownership of resources? Check! Selling items for a profit motive? Check! Boom, capitalism.
     
  25. Anubis

    Anubis No Lifer

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    its not only retail, im an engineer and i have been working on holidays before, the manufacturing plants all run on major holidays, all of them including the 4th of july, operators love working on holidays and bid for then because its 2.5x normal pay