About a decade ago, Black Friday in America was about long lines, fist fights, and stampedes over steep discounts on high-demand items such as flat-screen TVs, laptops, toys, etc. Consumers would arrive at stores at the crack of dawn to get their hands on products selling for a generous 50% to 60% off, and those products would practically sell out within the blink of an eye.
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Now, it seems that the enthusiasm for Black Friday has dried up over the years as the discounts have become just a bit less generous. Amazon (AMZN) is one of the many retailers that has recently faced consumer criticism over its Black Friday sales.
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Black Friday lands on Nov. 29 this year. The online retailer kicked off its Black Friday sales early on Nov. 21. According to Amazon’s website, the retailer this year has promised consumers “big deals” and “deep discounts” on “tech, home goods, clothing, toys, and more” in the days leading up to the biggest shopping day of the year.
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Consumers question Amazon's Black Friday deals
However, some consumers allege that Amazon’s Black Friday discounts are “fake” as they recently noticed misleading price fluctuations for items they had saved in their carts days before the sale kicked off.
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Amazon did not immediately respond to TheStreet's request for comment.
This is not the first time Amazon has been accused of offering misleading sales discounts. According to a research study that was published in 2022 that studied Amazon price listings between 2016 and 2017, researchers found that third-party sellers on Amazon raised list prices for items days before sale events and then lowered them back to their original price on the day of the event, giving customers the illusion of big savings.
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Amid recent criticism of Amazon’s Black Friday deals, some consumers may be pulling away from participating in the sales event.
In a recent Reddit post, one Amazon seller claimed that they experienced low demand shortly after the sales event kicked off.
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“This year's Black Friday sales have been going on since the 21st, and it seems like a lot of consumers aren't paying attention to these,” reads the post. “I'm an Amazon seller, and this first day of Black Friday didn't see a significant increase in sales compared to the usual Prime day, and it looks like a lot of consumers know this.”
Amazon has a positive outlook on holiday sales
Amazon’s Black Friday sales event will end on Nov. 29 at 11:59 p.m. PST, and despite recent criticism, the retailer has high hopes that its holiday deals will further boost its sales.
During the third quarter of this year, Amazon reported an 11% year-over-year increase in net sales. The retailer expects another increase between 7% and 11% during the holiday season compared to the same period in 2023.
Amazon's positive outlook on its holiday sales comes as holiday spending in the U.S. is expected to reach a new record.
According to a recent survey from the National Retail Federation, consumers are expected to spend roughly $902 per person on “gifts, food, decorations and other seasonal items” during the holidays this year. This is $25 more than each consumer was predicted to spend in last year’s survey and $16 higher than the previous planned spending record of $886 per person in 2019.
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