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Effects of black tuesday
The impact of black friday
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November is an intoxicating month; the leaves finish falling, the air is crisp, and football is starting to get exciting. It's also the month of Thanksgiving. Sitting down together and watching football with some turkey and a beer is a family tradition for many. And after the food coma comes the shopping. In fact, Black Friday shopping is a tradition many families participate in together. However, it's getting out of hand. Every year stores open earlier and earlier, cutting into family time, making Black Friday, Black Thursday. Stores should open no earlier than 5 AM on the Friday following Thanksgiving.
Where did Black Friday come from? Many people believe that it traced back to when slave owners sold their slaves to purchase merchandise.
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They were the top sellers of many different brands and items; they sold 2.8 million towels, 2 million televisions, 1.4 million tablets, 300,000 bicycles, and 1.9 million dolls (Wal-Mart). From 6 PM to 10 PM, Walmart processed more than 10 million register transactions in various stores (Wal-Mart). Clearly, it's not only good for customers to save money but for stores to make money, too.
Wal-Mart's fiscal revenue for 2014 was $473 billion, with a large chunk coming from Black Friday of the previous year (Wal-Mart). Many other stores such as Sears, Kohl's, and Aeropostale make large sums of money that is an advantage for their business. They move a lot of product to make room for new ones and it's a good way to draw old and new customers back. Indeed, opening earlier could make or break a stores revenues.
With the staggering money results, one would say it's almost idiotic for stores not to open earlier during Black Friday. My counter argument is, is it really? In 2011, Wal-Mart's fiscal reports showed they made $419 billion that year, take in affect of the slight depression the United States suffered, and the currency fluxuation, and the gap isn't all that large. Plus, stores like Wal-Mart would save millions on holiday pay for the 200 million (plus) employees they employ. Shutting down for a few hours would not destroy businesses like
Wal-Mart Stores, Inc. operates retail stores in various formats around the world. Wal-Mart is committed to growing by improving the standard of living for our customers throughout the world. Wal-Mart earns the trust of its customers every day by providing a broad assortment of quality merchandise and services at every day low prices while fostering a culture that rewards and embraces mutual respect, integrity, and diversity. In 2006 the net sales were $312.4 billion versus in 2005 were $285 billion.
As seen in Exhibit F, Best Buy has 1,055 main locations that consist of their standard large format stores, and 406 Best Buy Mobile locations that focus on mobile device sales. To supply these locations, Best Buy has 23 distribution centers located throughout the country. Comparatively, Wal-Mart has 4,625 stores stocked by 158 strategically located distribution centers. This puts Wal-Mart at a huge advantage in a couple of ways. Not only is Wal-Mart much more likely to have a store nearby any given customer, they are also better equipped to keep its products in stock at all times. This means more customers visit, and due to stocking, more customers can make the purchase they want. On an international level, Wal-Mart also exceeds Best Buy’s few hundred stores with 6,308 stores in over 11 countries. This furthers Wal-Mart’s availability to customers and puts them at an advantage over Best Buy. Additionally, the increased scale of Wal-Mart’s retail and distributive operations make them extremely competitive on pricing, a major aspect of purchase decisions for high-ticket items like consumer electronics.
This is the reason why these retail businesses are out of business. The reason that makes customers go to shop at Wal-Mart is that, there is ample parking, low prices and they also provide superior goods and services to the customers. Down town destruction started earlier before Wal-Mart was established. Wal-Mart is trying to bring with it new technologies that are aimed at coping with the current technologies. We ought to find new ways of doing things, and this is exactly what is happening with Wal-Mart.
Walmart is one of the most successful franchises of all time and continues to take fire from multiple angles, whether it’s about the costing of jobs, the wages, the health insurance, the small business destruction, or the environmental impact, but can always back itself up by negating those claims with facts that proves that it is beneficial to the community.
Black Friday was a day set forth initially to help the economy rise back up. Around this time of the
Thanksgiving is a time to get together with your family and have a nice dinner. Then you play games, catch up, and watch movies. Thanksgiving is the time to be grateful for what you have. But wait; now you had to start dinner earlier and cut out catching up with your family. Now it’s time to get ready to go shopping for those deals you just can’t beat. Forget about being thankful for what you have; now it’s time to buy all the things you don’t have. Has Thanksgiving been taking over by Black Friday, or should we now be calling it Black Thursday? Stores should only be able to open after 12 am on Black Friday.
On Black Thursday, October 24th, investors and stock brokers began to panic. They bought many shares of stocks, hoping to balance out the market. However, though balancing the market was many people’s intention, this was not the case. On Black Tuesday, October 25th, stock prices collapsed completely, and billions of dollars were lost.
"Wal-Mart Stores, Inc. is the world's largest retailer, with $285.2 billion in sales in the fiscal year ending Jan. 31, 2005. The company employs 1.6 million associates worldwide through more than 3,700 facilities in the United States and more than 2,400 units in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea, and the United Kingdom. More than 138 million customers per week visit Wal-Mart stores worldwide." (Walmartfacts.com)
Wal -Marts' major competitors are the Kroger co. #2 in annual sales, Albertsons' Inc. #3, Safeway,Inc. #4, and Costco Wholesale Group #5. Now even though Wal- Mart is leading the way in total sales the #2 and #3 businesses lead in way with total # of stores. The Kroger Co. has 3,302 with Albertsons at 2,476 stores nationwide. Wal-Marts total sales for that year alone was beating its 2nd place competition alone by more than 80 billion dolla...
Turning this day into another black Friday will result in a loss of the morals and virtues thanksgiving teaches. Adults and children will cease to remember the values this holiday brings, and in turn will only view the day as one where they will receive lavish gifts for waiting in line for hours and trampling people. Therefore, it is ironic to have a holiday that revolves solely on buying things, replace a holiday that is based on being thankful for what you already own. Accordingly, having retail stores open on Thanksgiving Day will diminish the true meaning of the
Walmart product selections is almost three times as much as that of HEB. Walmart is a one-stop-shop store. Customers can walk into Walmart and literally shop until they drop. Walmart provides groceries, baby clothes, boys/girl clothes, adult men/women, shoes, backpacks, diapers, wipes, baby formula, electronics, candles, towels, laundry detergent, cookware, gardening tools, birthday cards, gift bags, candy, costumes, school supplies, office supplies, mini refrigerators, outdoor activities, toys of all ages, board games, bikes, scooters, helmets, sport activities, a fully functioning automotive department, where customers can get oil changes while they shop. An Ophthalmologist office with in store purchase and carry out, a nail and hair salon, and a fully functioning bank. If that’s not enough, why go home and cook after all that shopping when you can stop and grab a bite to eat at Mcdonalds or
By keeping their prices low, Walmart can easily pass that savings on to their customers and in return, their buyers are able to have a higher income and can spend their money on more products, preferably Walmart’s.
It is seen in everything from the hoarding of material objects to the destruction of friendships, both of which are popular themes when regarding the topic of Black Friday shopping. Black Friday has become Black Thursday, a trend which has only shown up within the last decade. The great American holiday that is Thanksgiving is celebrated because of our gratefulness toward all that we have, a holiday that is meant to be spent gathered around a table of our loved ones. However, the retail holiday that consumes the day afterward has begun to overflow into our gatherings, and it is due to the greed of the American people. Were it not for the market’s demand for earlier sales, stores would not open their sales on Thursday nights. Everyone would simply wait until early the next morning to start off on their shopping extravaganzas, and the sales themselves would likely be far less violent as
Today Wal-Mart servers around 130 Million people world wide and it has employees over 1.3 million people across the globe. They have been increase in growth of sales over 11% which amounted $6.4 billion US dollars. The earnings of the Wal-Mart are far ahead of its French competitors Carrefour although it is having its branches in 32 countries it earning and saving far behind. With wide range of suppliers the Wal-Mart has it has been one of the successful retail chains in the world today.
The benefits or competitive advantage Wal-Mart derived over the years from its supply chain management practices is also covered. The reason Wal-Mart is ahead of their competition is because they invest in technology in the 1980s. This investment paid off in the long run. Wal-Mart invested heavily in IT and communication systems to effectively track sales and merchandise inventories in stores across the country. They have set up own satellite communication in 1983. Employees at the stores have the ‘Magic Wand’ at hand. These barcode scanners allow you to check the prices of items at that particular store by scanned the barcode on the product. This is especially helpful when there is clearance that isn 't always marked and sometimes clearance items are cheaper than they