question archive On the way to my mother's house for Thanksgiving dinner, my wife was on her phone and noted that Old Navy was going to be open for Black Friday sales starting on Thursday at 3pm
On the way to my mother's house for Thanksgiving dinner, my wife was on her phone and noted that Old Navy was going to be open for Black Friday sales starting on Thursday at 3pm
Subject:EconomicsPrice:2.86 Bought11
On the way to my mother's house for Thanksgiving dinner, my wife was on her phone and noted that Old Navy was going to be open for Black Friday sales starting on Thursday at 3pm. Many people lament the fact that stores are open very early the day after Thanksgiving or, as it seems, even open on Thanksgiving day itself. The owners, managers, and employees of retail stores presumably would enjoy spending Thanksgiving with their families instead of preparing for Black Friday sales, yet almost every store announces that it will open very early on Friday morning for shoppers. How might game theory offer an explanation for this unexpected behavior?
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According on Statista.com, Thanksgiving day is one of the top five mostly spend for shopping days of consumers in both in store and online back to back to to Black Friday Sale which is the peak day for shopping because it has a lot of discounts, promos, freebies and so on.
Step-by-step explanation
A lot marketing and promotional strategies offered for consumers. Aside from that, Friday is the day after the weekends which has a lot of events and some of them just restful day in which they have to recover a lower sale of some products weekend by selling promotions on Friday.
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