Understanding Black Friday

QUYNH·

Economics

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At a Glance

SubjectEconomics

Original Prompt

choose a topic to teach related to the main topic: Shopping and Black-Friday

This resource delves into the origins and evolution of Black Friday, explaining how it transitioned from a chaotic day described by Philadelphia police in the 1950s to a pivotal shopping event that has become a multi-day shopping season. It explores the economic impact of Black Friday on retailers and consumers, noting that many businesses earn a substantial portion of their annual sales during this period. It discusses the ripple effects on the broader economy, including supply chain adjustments and increased seasonal hiring. Lastly, it examines the psychological tactics that drive consumer purchasing behavior during Black Friday, highlighting triggers like impulse buying, scarcity, and the fear of missing out (FOMO). The document also encourages learners to create a responsible shopping plan and to reflect on their ethical shopping choices.