As Americans recover from watching too much football and eating too much turkey, many people, including cross-border shopping Canadians, have shifted their enthusiasm to shopping to take advantage of all those sweet great “Black Friday” deals. (Note: Anyone expecting deep discounts from Apple will be disappointed.).
While consumers love bargins, the question is whether it’s a good thing for them. The prospect of getting something for significantly less than what it cost even yesterday encourages people to want things they don’t necessarily want or need.
Sure, this is the way capitalism works; you need to feed the beast to keep the fires roaring. But it doesn’t mean it’s healthy for the economy, personal debt or the environment when you think about all the old stuff that gets thrown out when the new, shiny stuff comes through the door.
When the economic downturn sent the North American economic landscape into the proverbial toilet in 2008 and 2009, it seemed like many people have suddenly realized that rampant consumerism was not a good thing. This included the crazy idea maybe buying less or buying high-quality products that lasted longer were good habits.
Alas, the frenzy for Black Friday makes it more than apparent few people learned anything about how and why to shop.