The New York Times calls it a "carnival of capitalism." It's Black Friday, and the day nearly stands as it's own national holiday. Traditionally occurring the day after Thanksgiving, Black Friday brings retailers monetarily "into the black" by luring customers into their store to buy offering merchandise at a great markdown. This "holiday" often brings with it connotations of punch throwing, clawing, elbowing and general greedy violence over mere products.
This has never been my experience. Working in retail, Black Friday, for the most part, has been a positive experience, aside from the long work hours (this year I worked 9pm-8am), eager groups of people come out to try and get the best deal for their holiday shopping needs. People this year were no different, turning out in droves to buy for kids and loved ones, and in an down-turned economy, it was good to have them out.
Of course, this begs the question, does Black Friday really help the economy? The New York Times seems to think so, stating that "billions of dollars, which would otherwise never be spent, make their way into circulation." Some estimate $59 Billion this year, nearly 13% jump from last year. But others believe big business shopping days led by big businesses like Wal-Mart, Target, Macy's and Kohl's only lead to inflation and mis-read numbers, temporarily pumping up the economy only to drop it later in the season. And this is a problem.
One solution to said problem may be the growing interest in buying local. Many local clothing stores, electronics retailers and record shops opened earlier this year to partake in the Black Friday festivities. Local stores may not be able to offer the deep discounts that national chains do, but by supporting local businesses you are more likely to support the local economy. Small business re-invest in the local economy and are largely responsible for new job creation, so purchasing Holiday gifts from local merchants could also mean investing in local necessities like new jobs, schools and infrastructure.
Black Friday will not be going away any time soon. We can either complain about it's negative impact on the economy as well as our nation's moral character, or we could make the most of it. Shopping local is one way to make the most of it, and hopefully next year I'll be able to stand in line at my local retailers instead of working all night. Until then, I hope to enjoy what the rest of the holiday shopping season has to offer, hopefully at 40% off or more.
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