Believe it or not, it’s almost Thanksgiving Day! At the beginning of this month, I bookmarked an article on CNN.com that I wanted to blog about and I just haven’t gotten around to it until now – so forgive me if this information and my opinions are dated!
Over at CNN.com they posted an article talking about how major retailers are luring in holiday shoppers with huge discounts. Well, I combined this article with the great information that I found over at one of my favorite holiday websites – BFAds.net – to come to a general realization: today’s retailers have no idea what the public wants! I’m sure anyone can come to these conclusions on their own, but looking at the “deep discounts” that are listed on the Black Friday advertisements is appalling.
I guess what really gets me is that while there are discounts on a variety of items in each of the stores, you don’t see any of the stores really cutting prices on items that people in my age group would want. For example, Circuit City has great DVD discounts, but not really on the programs that I’m looking for on Black Friday. On the same token, all of the stores have some semblance of a sale on the next generation of video games (Wii, X360, and PS3), but none of them are going out on that limb and reducing the prices $50 or $100 below the competition. Granted, there are some restrictions in terms of how much money the various companies expect to receive with each sale, but isn’t that a basic premise of marketing and advertising? Draw the customer in with a blockbuster, financially-bad deal for company and then make up the difference (and then some) with other sales during the customer’s visit.
Looking through the Black Friday ads it just doesn’t appear that retailers understand this concept. What will it take for a profitable Christmas season? Deep discounts on quality items that will bring shoppers into your specific store. Simple, right?
Well, let’s see how it goes on Friday…