Summary
Black Fridays are the busiest days for stores in a America. Many people line up outside the stores hours in advance so they can be the first ones to see the sales on November 27. People take these sales so seriously that a Wal-Mart employee was trampled to death. As we are in a recession people begin to buy more of their products online because they can compare prices from other stores more easily. Online sales grew by 13% in 2008 but still only make up 6% of all retail sales in America. Amazons sales rose $5.5 Billion dollars in the third quarter of the year but online sales are still only going to grow to 8% by 2013. As online sales begin to grow Amazon is beginning to sell things like groceries and luxury goods to increase their income. Online retailing has proved that it can also advertise the store because a Macy's spokesman said "that for every dollar a consumer spends online with Macy's it leads to $5.70 in spending at a Macy's store with in 10 days." Retailers are trying to make shopping seem fun because they show pop up stores which show for a short time but then vanish which shows that their is an urgency and that this may only be a one time offer.
Connections
Online retailing has made it a lot easier for people to compare deals with other stores and it also save hours of time but since the consumers have found a better and easier way to buy goods now, they do not have to go to stores any more which is costing the stores tons of money. Since the stores are not getting as much business they are now having to rely on black Fridays to finally begin to earn a profit on the year.
Reflection
I think this is a good and a bad thing. The good thing about online retailing is that it is easy, fast and you can access it any time of the day. Online retailing makes it easy because you can compare prices from different stores faster. Its fast because you don't have to wait in long line ups to purchase your product and online retailing is open all day unlike regular stores which are only open for maybe 10 hours. Online retailing is a bad thing because people need to touch and feel things such as clothing so they can tell if it is the right size for them. Online retailing is a bad thing because if online retailing becomes a big thing that means stores will be losing more profit and it will be harder for the stores to stay open which means their will be less places to shop for consumers.
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