Attention Black Friday Shoppers: Psychology predicts if you will shop tomorrow or not
Black Friday is an informal name for the day following Thanksgiving Day in the United States , the fourth Thursday of November. It is regarded as the beginning of the Christmas shopping season. In the 1980s , the term “Black Friday” began to be used by retailers to refer to the single day of the year when retail companies finally go “into the black” (make a profit) after being "in the red" for much of the year. Research shows that consumers would choose to shop on Black Friday again, only if their last year's experience brought them pride rather than regret. For a consumer who bags a bargain in the sale only to find the item was further discounted at a later date, the initial feeling of pride may be tempered by the regret at having bought it too soon and not receiving an even bigger discount. Source: The Psychology of Black Friday - how Pride and Regret influence Spending by Shalini Vohra The opposite is true, however, i f a consumer was app...