Wednesday, November 23, 2016

The Big Nudge

Image result for black friday crazinessIts that time of year again where every store one visits seems to be having it's biggest sale ever, and everyone is constantly scouring the Internet and searching store to store for the best deals. Sense 1952 Black Friday has marked the beginning of the Christmas shopping season. Everyone knows that black Friday can get crazy, sense 2006 there have been seven reorted deaths and 98 injuries, but in my oppinion it is probably one of the greatest nudges that has ever been implemented. https://en.wikipedia.org/wiki/Black_Friday_(shopping)

All of these store are advertising about how much money consumers are going to save if they buy products on black Friday, and the consumers eat it up. But if you are spending money even if you get something 50% off you are still spending, which is the opposite of saving. The mannor in which all of these stores and online site frame their advertising is fooling consumers into spending money where they souldn't and because they get such good deals they buy fancier items than they normally would and end up spending more than normal anyway.

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