To celebrate the post-holiday buying bonanza, we decided to put together some analysis on why we see all of these new ‘shopping holiday’ pop up.
1. Hurd Mentality: Lots of research has shown that when individuals are disconnected and feel disconnected, they are less likely to participate. Organizing these shopping holidays is a way to say “Hey Ms. Johnson, everyone else is heading out to the mall today at 4am, you should too!” And it works. When we are cued to believe that others are engaging in an act, we are more likely to engage as well.
2. Boredom: Let’s face it, family can get real boring after two or three days. Shopping is a way to distract us from the lame stories and hours of football. There are only so many inappropriate jokes Uncle Jake can tell before everyone loses it.
3. Economic Pressure: Businesses are needing to compete more and more for smaller slices of a shrinking pie (not sure if that even makes sense). But you know what we mean. In their ever-desperate attempt to catch eye-balls and credit cards, businesses both large and small have to not only act creatively but also group up. Rather than leveraging other businesses, they are using the psychology of groups to bring people in.
4. Divided Demographics: We are becoming a splintered society (in terms of how we spend money). We use to act like good little consumers, drive our station wagons to the mall and walk out exhausted and in debt with lots of bigs bags. Now, there are a gazillion ways to get in debt (or shop responsibly if you’re one of those types). These shopping holidays are a way to take aim at multiple layers of the SES (socioeconomic status) simultaneously. Don’t like to do laps at Nordstrom’s? Jump on to Amazon for Cyber Monday. Want to test drive that new iPad mini? Hit up Best Buy. There is no more hiding – retailers can find you where ever you are.
Good luck, have fun but please take it easy, Easter is only a few months away.