Black Friday is designed to give you FOMO

Question

Black Friday is here, and it's hard to miss. Posters scream about big sales while emails flood inboxes — warning the savings are for one day only. It's become one of the busiest shopping days of the year. But experts say it's also a time when impulse spending can spiral out of control.

Comments

Your claim is backed up nicely. I agree with the claim as well, I find that it is the one day a year I just have to spend money even if I don't find anything I love.

Answer 1

This is true. A lot of retailers advertise their sales as "limited time only" or "while supplies last," so that it makes people feel like they have to act quickly or they will miss out. Here is another source that talks about this: 

https://www.finance-monthly.com/2024/11/the-psychology-behind-black-friday-sales-why-we-cant-resist-the-hype/

Comments

I agree and your source helps back this up too. What I also find interesting is that some retailers will have in-store signs that say there is a discount specially for black Friday but that price is just the normal item price with a new sign. They try to sneak in items that they want to get rid of by making you think the deal is good or that you will miss out on this price.

Answer 2

I agree with this claim. I see it and hear it just by talking to those around me and it is a very clever marketing strategy. Using FOMO to unconsciously make people impulsivly purchase things has been proven to work well and this article I found also backs this idea up. https://www.bluewin.ch/en/entertainment/this-is-why-we-let-ourselves-be-seduced-on-black-friday-and-this-is-what-fomo-has-to-do-with-it-2465996.html

Comments

I really like how you added your own opinion into the response. I think FOMO is a key strategy in black friday's success over the years and what that relates to in our society is interesting to think about.

Answer 3

CBC News claims that Black Friday deals are designed to give you fomo. With the big posters and multiple email notifications blowing up in your face on great deals, it's hard to miss them. The news statement shows statistics on Canadian shoppers who plan on participating in Black Friday, and 48% surveyed they will be shopping. Nisha Patel the author of this article, has worked for CBC News for years now covering articles on business and economics. Similar news was posted by AP News Retail Dive addressing the hype around Black Friday savings. When compared to other articles, this one's headline didn't seem biased and fit well with the content and images.

https://www.cbc.ca/news/business/black-friday-sales-tactics-1.7395276

Comments

This is a solid analysis of the sociology surrounding Black Friday, especially when you mention key examples such as large advertisements and the many notifications one may receive. Great job also listing an important statistic to make the claim more reliable and to be backed up by prior studies. Nice addition of giving background information about the author's experience with CBC.

Answer 4

I completely agree with this claim as Black Friday’s appeal often relies on psychological tricks like urgency and scarcity, creating a "fear of missing out" (FOMO) that compels consumers to act quickly, often impulsively. For instance, retailers frequently use tactics such as “limited time only” or highlighting low stock, making deals seem more exclusive and time-sensitive than they may truly be. This fosters an emotional response that can lead to overspending or purchasing items of little actual value​. Additionally Black Friday is truly not what it used to be due to the sales being so limited and of little value.

https://www.nbclosangeles.com/news/business/money-report/black-friday-is-almost-here-but-some-sales-arent-all-they-are-cracked-up-to-be-heres-what-not-to-buy/3569407/?os&ref=app#:~:text=According%20to%20WalletHub's%202024%20Best,on%20Amazon%20earlier%20that%20fall.

Comments

I agree with your fact check and like how you brought up different tactics retailers use to get sales, but your fact check could be improved with using multiple different sources and explaining how they are similar.