The Black Friday Effect: How Sales Events Distort Our Perception of Value Best Buy's recent Black Friday in July sale is the latest example of retailers rolling out pre holiday sales events designed to make us feel like we're getting a head start on saving money.
These sales events often create a false sense of urgency around consumer spending by offering deep discounts on popular products. At first glance, these sales might seem harmless – who doesn't love a good deal?
But they can also distort our perception of value. By creating artificial scarcity and urgency around their products, retailers can drive up sales figures – even if those numbers are artificially inflated.