Last night I was on BBC News Channel commenting on what drives people to go ‘nuts’ during the Black Friday weekend. Frankly, sometimes the sales aren’t even better than standard sales throughout the year. And the idea of waiting in a queue all night to get a TV you don’t really need is not a very rational decision.
But then we aren’t rational at all if it comes to shopping. I know it still might come as a surprise to some but none of our purchasing decisions are purely rational. In the best case scenario they are a healthy blend of subconscious and conscious. However, this is certainly not the case during the Black Friday weekend. During this time we are back to the cave men era and to our completely primal instincts of survival.
So what are the drivers of these completely animal-like behaviours of biting, fighting and groaning to get your TV?
1. Survival
Obviously we’re not talking about actual live or death situations although I’m sure that some fights were close to it. We’re talking about survival of our identity as savvy consumers; people that know how to get a great deal and willing to invest plenty of time and energy into obtaining it. So basically hunting! In this case rather than hunting for food for your family, you’re hunting for entertainment for your family.
Another crucial element of hunting is gloating after the fact. I can pretty much bet you that most of these people will be telling stories of their triumph to all of their families and friends for quite some time. Sociologically it worries me that this might be the subject for Christmas dinner conversation. What example are we giving to our children?!
2. Herd Mentality
They are doing it so I need to do it as well. How many people have you heard saying ‘I need to go and buy something because everyone else is doing that as well’? I’m no different! I asked myself that question many times.
On the fundamental evolutionary level herd mentality is a great survival mechanism; it’s just that the modern interpretation of it is sometimes off. We copy other people’s behaviour to belong to a group because it’s safer. In the old days if you were a part of a tribe you were protected and fed by the tribe. You also felt a part of a community. You played a specific, much needed role and you were rewarded for it with the sense of belonging, safety and food.
Today we can buy food and be safe from danger without necessarily being a part of any group. However, our basic instincts are not dead and psychologically we still require a sense of belonging and being a part of something. That’s why all the VIP clubs and points clubs are so popular; they give us a fake sense of not being alone.
The same force is at play in people’s behaviour during this weekend. They don’t want to come to work on Monday and answer ‘no’ to a question ‘Have you bought something?’. This will automatically put them outside of the circle and this is one of the biggest fears we have as human beings.
3. Scarcity
Not of a product but of the price. We are led to believe that you won’t be able to buy this product for such an amazing price outside of this weekend. Of course, you will be; on Boxing Day or in January or even still before Christmas. If you’re buying it for Christmas present, then I understand the effort. But if it’s a TV or a laptop you wanted for a while, then you might as well wait to all the other sales that retailers are doing all year round. At least you won’t have to fight.
However, it’s not that simple and rational. That big, beautiful, red signs advertising sales make us basically go bonkers. We’re kind of losing all our rational thought and are drawn to mindlessly believe that it’s either now or never. So we go and buy things that we don’t need so we don’t regret it later. And that nicely leads us to the next point.
4. Regret Avoidance
Everyone is talking about guild after purchase but not many mention the regret that you didn’t buy something even though you really liked it or it was on a great sale. How many times did you find something amazing while on holidays and didn’t buy it for whatever reason and regretted it later? It’s the same here; you have only limited opportunity window to buy something and you either take it or regret it later.
Somehow that regret is worse than the guild for buying the item you don’t need. We are much better at post-rationalising our purchase than post-rationalising the lack of it. We want what we don’t have and because we could almost have it, the value of the item increases even more. So we go and buy it so we don’t have to go through the painful process of explaining to our Selves why we were so stupid in the first place.
Here you have just some of the reasons why we behave like animals during the Black Friday weekend sales. Let’s hope we and the retailers learn from this and create a safer shopping environment for next year.
