Black friday is bad for business

by MR Magazine Staff

In 2018, Americans spent $6.2 billion on Black Friday and $7.9 billion on Cyber Monday. Respectively, that’s a 23.6% and 19.7% growth year on year—not to mention the fact that Cyber Monday last year was the US’s biggest online shopping day of all time. Those numbers sound like good news for retailers, right? Wrong. The reality is that Thanksgiving weekend has become a time when retailers treat their worst customers like royalty. For those retailers brave enough to buck the status quo, there are ways to reimagine Black Friday to minimize its damage or at least turn it into a genuinely valuable opportunity to enhance customer relationships—other than just doling out excessive discounts. Read more at Quartz.