The psychological impact of Black Friday

As a consumer, Black Friday this year is a godsend especially for those of us who have been struggling to make ends meet since March last year. As a business it serves as a huge headache, reduces profit, only good for getting sold old stock to make space for newer products on the shelves. In some cases prices went up due to "inflation, brexit, covid" in the past months only to now for black Friday return to the original price.. Have we saved anything really?? Probably not..

"Black Friday depresses me each year. I hate the way consumerism brings out the worst in people, turning them into hysterical monsters obsessed with getting the best deal with no thought given to any of the wider issues. So many people I know buy expensive things that they can't afford, definitely don't need and probably don't even want! It's all a con, simple as that."

Black Friday forces small businesses to drive prices down, over subscribe themselves and make less money for their time and effort, it’s a battle for the lowest price! Adding value would be just as a effective which is why My VIP Rewards are saying no to Black Friday and giving a £20 high street gift card with our product instead of a discount. We try and get people to support local any other time of the year

"Black Friday exploits our FOMO. On an intellectual level we all know that retailers have been edging up their prices for 6 months so they can pretend we're getting a good deal on Black Friday but we still buy stuff we didn't actually want or need and then get buyer's guilt afterwards. It is not good for our souls."

"In order to for the human soul to be effected by Black Friday shopping, any aimless bargain hunters would firstly need to have a soul, but perhaps they can pick one up at a bargain price."

Is Black Friday even a thing anymore? There's deals to be gad in most places if you look hard enough and all that Black Friday does is put pressure on small businesses to keep up with the big players in the market. Build a business on trust, good customer service, quality products (and loads more of good things) and then the customers will see value in your proposition. Rant over!

"I'm not sure about our souls but Black Friday is certainly designed to make us lose our minds and our ability to make rational decisions. A Which? study just showed that 99.5% of the 'deals' are not deals at all compared to the rest of the year. So don't let the hype get the better of you and only buy the things you really want or need, when you actually need them."

Black Friday has no impact on the human soul. If you have a shopping list or are ready to buy Christmas presents then take advantage - why would you not. Otherwise ignore it!

"Black Friday can trigger a tsunami of short-term euphoria, from dopamine hits created by the anticipation of online purchases being delivered, to floods of endorphins for those 'addicted' to shopping. Sadly, short-term euphoria is very different to long-term happiness. Being influenced to spend money that we don't have on things we often don't need to impress people we barely know is a recipe for financial and psychological failure. Frenzied spending decisions on Black Friday tear away at the good we want to see in ourselves and in others and, as a result, at a little part of our soul."