Black Friday: pitfalls and opportunities of a now global phenomenon

Originating in the United States as a natural extension of Thanksgiving, Black Friday has grown into one of the most anticipated shopping events in the world. It has become a global phenomenon that significantly influences consumer habits, perceptions, and purchasing decisions. As observed by Ksenia Silchenko, research and lecturer at the Institute of Marketing and Communication Management (IMCA) at USI, and Zachary Estes, a lecturer at the same institute, this phenomenon combines commercial logic, psychological principles, and neuromarketing techniques that exert a powerful, often subconscious impact on consumers.

For Ksenia Silchenko, a marketing and consumer culture scholar interviewed by RSI on the television programme "Prima Ora", the power of Black Friday today stems from its cultural migration. The phenomenon originated in the United States, where it immediately follows Thanksgiving, which falls on the last Thursday in November: "After all the family traditions and feasting around the table, there is a quiet Friday when many people do not work and can therefore devote themselves to shopping. It is the perfect time to launch marketing campaigns, not least because it officially marks the start of the Christmas season." However, once exported to places where Thanksgiving is not celebrated, the tradition lost its cultural anchor: "In Switzerland and Europe, this holiday does not exist, but Black Friday has been part of our reality for at least a decade. In fact, it has been imported and spread throughout the world." A world free of traditional constraints, which has taken advantage of this opportunity to contribute to the temporal expansion of the phenomenon: "It has transformed from a Friday to a weekend, then a week, until it has become – in some cases – a Black November." This flexibility makes it even more pervasive.

Inflated prices, artificial urgency and more attentive consumers

Silchenko, in her analysis, points out that over the years, many consumers have nevertheless developed a critical attitude: the suspicion that discounts are not always real is widespread. "I am not surprised that people say prices are inflated in the weeks leading up to Black Friday. It means that consumers are becoming more aware of the marketing levers used," she says. The expert points out that some practices are indeed borderline: "Techniques to attract attention can turn into unfair tactics that manipulate it. Inflating prices is one example, as is concealing hidden costs, such as shipping or installation." Added to this is the artificial creation of urgency and scarcity: "These are often untrue, but they serve to push consumers into making immediate purchases." The consequences of this artificial frenzy, it goes without saying, are not only economic: "Black Friday is – in quotation marks – guilty of creating needs that some consumers do not really have. This affects various contexts, generating a negative environmental impact, an increase in consumerism and, in some cases, customer indebtedness, especially when purchasing expensive products with credit cards."

Neuromarketing: what happens in the brain when we buy

In addition to market dynamics, consumer mindsets also influence what happens on Black Friday. In this case, as expert Zachary Estes explains in an interview with La Domenica del Corriere del Ticino, neuromarketing takes centre stage. "Neuroscience applied to consumer behaviour became mainstream around 2012, following several studies that highlighted the potential impact of neuromarketing. Today, it is primarily used to optimise purchasing behaviour, as neuroscience has revealed that consumers tend to exhibit specific patterns depending on how a product is presented. For instance, in a physical store, shoppers typically first and most frequently look at the centre of a shelf, which allows retailers to place their most desired products in that location strategically." In both physical and online stores, the mechanisms are carefully engineered: "Sellers do not necessarily know what we are going to buy, but they know where we are going to look and use that information to influence our purchases." According to Estes, consumers are also driven to buy things they do not need because: "When we see a product, our brain naturally thinks about how we might use it, even if only subconsciously. The more products we see, the more likely we are to identify potential uses for them, and therefore to buy them." And if that were not enough, retailers can always rely on some very, very powerful words: "The terms 'discount' and 'sale' activate the reward system in our brains, similar to the feelings we experience when meeting an old friend or winning a prize. This is persuasive because we perceive that we are receiving a reward in terms of value for our money. It is also important to understand that there are significant individual differences in how people perceive this reward. Some individuals are highly motivated by value-based rewards, while others find equal satisfaction in purchasing a quality product, regardless of whether it is discounted."

Why is Black Friday so popular?

The global success of the event, according to Estes, is not particularly surprising: "Shoppers clearly love Black Friday, and retailers are more than happy to offer it. At least conceptually, it is a win-win for both sides." On the one hand, shoppers get substantial discounts and get a head start on their Christmas shopping; on the other, retailers increase sales of discounted items, but more importantly, they encourage people to buy other products at full price as well." Extending the duration does not seem to weaken the concept: "Black Friday activates a rewarding mindset in the brain. Many people like both discounts and holidays, so extending that period is good for most consumers." Precisely because the psychological dynamics are so persuasive, Estes suggests some measures to protect yourself and avoid taking risks: "Discipline is key. The best way to limit spending is to make a list and stick to it." Lists, in fact, reduce vulnerability to neuromarketing techniques: "Walking into a shop without a goal means inducing yourself to buy things that you may not really be interested in. Setting a precise budget is also effective: it will make you think twice before buying that giant stuffed panda that you do not need, so to speak."

In summary, Black Friday has become a complex event that brings both benefits and risks. On one hand, it offers opportunities for savings and early shopping; on the other hand, it involves marketing tactics, automatic responses, environmental concerns, and the dangers of impulsive spending. However, in their analyses, Silchenko and Estes both emphasise one essential point: awareness is the consumer's best defence.