Black Friday and Cyber Monday Crowds
A well known event starting after a full Thanksgiving dinner is Black Friday and Cyber Monday where various stores advertise their biggest sales of the season for Christmas shopping. These days have cause anxiety in crowds trying to grab new technology deals and forced businesses to call in employees to work early mornings. The rush of excitement from shoppers is heightened by a set of early adopters who hype up the sales and cause others in their network to not miss the sales as well. As more and more people hop on the bandwagon, this creates an information cascade. This made Black Friday turn into such a huge event that stores started Cyber Monday to divert crowds and cater towards customers with an at home shopping style. Now the trend is spreading towards shopping before Black Friday, so the Wednesday before Thanksgiving. Although many people still are not aware that stores start sales early, it is very possible that within the next few years shoppers’ trends will change.
Another aspect for stores to consider is how much prices should be deducted in order to fulfill profit requirements and attract shoppers from competing stores. An equilibrium price point is calculated to make sure the stores are not losing money by marking down items too low while also providing an incentive to shoppers to spend money. During holiday season there is always a bombardment of advertisements and colorful coupons mailed to households as a marketing tactic and to spread information about sales to reach new clusters of customers.
http://time.com/money/4127433/cyber-monday-2015-sales-deals/