US High School Economics class: I’ve had my fill of Black Friday bargains

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Black Friday has evolved into an extended shopping season characterised by targeted online discounts and sophisticated marketing techniques, but consumers are increasingly sceptical of the value offered. Retailers leverage personal data to entice spending, often inundating shoppers with promotion.

But concerns about inflation and economic instability may temper future participation. This dynamic highlights the importance of discerning between genuine deals and marketing tactics, emphasising thoughtful spending habits to maximise financial wellbeing.

Essential Question: How can consumers make informed decisions about Black Friday deals to avoid being misled by marketing strategies and ensure they get genuine value for their money?

INSTRUCTIONS: Read the article: and then answer the questions below:

I’ve had my fill of Black Friday bargains

Part 1: Reading Questions

• How do retailers use consumer data to influence shopping behaviour during Black Friday promotions?

• What are some potential drawbacks of participating in Black Friday sales, according to the article?

• Why might some consumers feel fatigued or sceptical about Black Friday/Holiday  deals?

• What strategies do retailers use to maintain profit margins while offering discounts?

• How do spending patterns differ between men and women during Black Friday, and what drives these differences?

• What did the study by consumer group Which? reveal about the validity of Black Friday discounts?

• What lessons can consumers learn from the targeted promotions and marketing tactics described in the article?

Part 2. Video- From Passive to Active: Mastering Smart Shopping Habits

View the short video “How To Beat Inflation By Being An Active Shopper When Grocery Shopping” (0:58) and answer the following:

What specific habits or strategies can help you transition from being a passive shopper to an active shopper, and why are these important for saving money?

Joel Miller and James Redelsheimer, Foundation for Economic Education.
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