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Record-Breaking Black Friday For eBay's PayPal

Soulskill posted more than 4 years ago | from the conspicuous-consumption dept.

The Almighty Buck 115

adeelarshad82 writes "eBay's PayPal division reported that PayPal processed 20 percent more transactions on Black Friday compared to last year. PayPal didn't release the total payment volume, but claimed that its Payflow Gateway system processes nearly a quarter of e-commerce, while its direct sales numbers reflect 12 percent of all e-commerce. In general, reports from a number of e-tailers and retailers indicated that consumers spent more on Black Friday than in 2008, when the United States was in the midst of a recession. However, it's still unclear whether shoppers bought more on Black Friday, when they could expect a discount on what usually is one of the busiest days in the holiday season, or whether the pattern will continue. In 2008, shoppers stopped buying in early December, a shock that the US economy felt well into 2009." How did your Black Friday turn out? Did you wait in endless lines and contribute to the trampling deaths of fellow shoppers, sit at home and help take down your favorite online retailer's servers, or eschew the process altogether?

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Online things, and from non-us point of view (5, Interesting)

sopssa (1498795) | more than 4 years ago | (#30261202)

We don't have "Black Friday" here, but I noticed Steam has also been having five-day-long every-day-new-games [steampowered.com] discount on games, usually ranging as 33-75% discount. Since they actually have good games there on sale, with a good percentage off, it's been leading me and many of my friends to buy the games that look interesting now. People have been buying those LucasArts and THQ Complete Packs and many single games (I bought Borderlands, City of Heroes and LucasArts pack last night) Since PayPal also processes purchases for Steam, some of the increase probably comes from it too - there are hundred thousands players buying those games now.

I didn't buy more because I didn't even know about the special day. But I bought when I saw the discounts. I'm a lazy guy so I wouldn't go fighting in stores anyway (and I hate all that crowd), but these discounts surely lead to some impulse buying on Steam. And it still continues for a few days, oh man.

Re:Online things, and from non-us point of view (1)

Fozzyuw (950608) | more than 4 years ago | (#30261594)

Indeed. I've become a pretty big Steam user/purchaser. I love the simplicity of it and how darn fast they download (getting up to 1Mb/s speeds at times). Even purchased things I wouldn't have purchased otherwise because they where only $2-$10 so I thought I'd try them out. My biggest disappointment has to be Dragon Age: Origins. Darn thing was on sale for like 25% off or 33% off or something and I just bought it a week or two ago and I only just started playing it. doh!

But yes, I picked up:

  • Batman: Arkham Asylum. 50% (Arguably the best Batman game ever)
  • Borderlands. 33% off
  • Trine. 50% ($10, I wouldn't have bought this otherwise)
  • Resident Evil 5. 50% off. (I'm a fan of Resident Evil but I wasn't going to pay $50 to play it on the PC)
  • Civilization III: Complete. I think it was 75% off and only a few dollars.
  • Madballs in... Babo:Invasion. 75% off I think. Or like $2-4. Cheap to try out.
  • Osmos. $2. This one's not working for some reason.
  • Dead Space. $17 I think.

There's a few other games I almost jumped on or already own that I would have purchased. Like I said Dragon Age: Online I already own. But I also have Left4Dead, Star Wars: Knights of the Old Republic and City of Hereos. I was going to get Champions Online but realized to just try it, I'd be better off waiting for a free trial as I'm pretty sure I'm not going to keep playing it nor pay for 2 subscription fees (I'm happy with WoW, until Star Wars: The Old Republic comes out).

So yeah, I've been buying a lot online.

But I can't say I'm shocked. Online sales are still growing year in and year out. And "Black Friday" is a hell of a day to go shopping. I'm sure many people would rather pick up deals at home than fight with people at the stores. I just wonder how this is going to effect the "Cyber Monday" sales?

Now, just about 30mins until the new Steam deals are live. Gosh, I hope there's nothing good. hehe. I've spent enough and have enough games to last until next year!

Re:Online things, and from non-us point of view (1)

CecilPL (1258010) | more than 4 years ago | (#30262800)

Wow, I didn't know Osmos was on sale for $2. I picked up from the developer's site for $10 and I think it's a steal at double that price. Great game!

Re:Online things, and from non-us point of view (0)

Anonymous Coward | more than 4 years ago | (#30263090)

what's black friday ?
seriously. haven't heard the term before.

Re:Online things, and from non-us point of view (1)

kjart (941720) | more than 4 years ago | (#30261630)

I'm in Canada and, as such, we don't have Black Friday either, so thanks for reminding me of this - managed to pick up Left 4 Dead and the THQ pack with 30 minutes remaining this morning. While the LucasArts pack was tempting as well, the THQ one was crammed full of amazing RTS games that I may have enjoyed from the ... ahem ... library in my younger days, along with a fairly new game (Red Faction: Guerilla) that sounded great but I never got around to trying. As for Left 4 Dead, that was kind of a no brainer (heh, zombies) at $7.50.

Re:Online things, and from non-us point of view (1)

Curtman (556920) | more than 4 years ago | (#30262612)

I'm in Canada and, as such, we don't have Black Friday either

Sure we do, it's called boxing day.

Re:Online things, and from non-us point of view (0)

Anonymous Coward | more than 4 years ago | (#30264116)

LucasArts Premier Pack
Individual price $120.34 USD
Package price $127.84 USD

Yeah, I'm sure their discounts are in no way inflated; of course a bunch of 10 year old games are worth $50USD.

It works with everything (4, Funny)

PizzaAnalogyGuy (1684610) | more than 4 years ago | (#30261204)

People buy on special occasions. People buy even more when they know things will be cheap.

Let me give you an example.

If a pizza place advertisers for weeks that on this exact day all the pizzas will be just $2, and there will be hookers, and there will be free beer, and there will be rock music, people will come in and buy. And they will come in as a big crowd. So big that if everyone orders a combination of sweet Italian sausage, pepperoni, Canadian bacon, Capicola ham, julienne salami, Mozzarella cheese in BBQ sauce, there will not be enough for everyone. But the business will flower and they get great returns as so many people rush in.

This same thing happens everywhere, so why not online too?

Re:It works with everything (0)

Anonymous Coward | more than 4 years ago | (#30263762)

omg how many accounts did you make *facepalm*

Re:It works with everything (1)

SmlFreshwaterBuffalo (608664) | more than 4 years ago | (#30265358)

...on this exact day all the pizzas will be just $2, and there will be hookers, and there will be free beer, and there will be rock music...

In fact, forget the pizza and rock music. And the free beer.

Ahh, screw the whole thing!

trampling deaths?? (-1, Flamebait)

Anonymous Coward | more than 4 years ago | (#30261226)

What the fuck is Soulskill talking about? I wasn't aware of any trampling deaths or any serious injuries in this entire country at all this year. Is he just making shit up or trying to be funny and utterly failed?

Seems like security was stepped up and stores handled queues much better.
   

Re:trampling deaths?? (4, Informative)

Shikaku (1129753) | more than 4 years ago | (#30261286)

http://www.nytimes.com/2008/11/29/business/29walmart.html [nytimes.com]

He was exaggerating about this year I think (not seen any trampling to death news reports), but it happened last year on Black Friday.

Re:trampling deaths?? (-1, Flamebait)

Anonymous Coward | more than 4 years ago | (#30261822)

Why do you think it is called Black Friday? It used to be called "The Friday of Trampling Death", because prior to the advent of the internet, shoppers would stampede into the streets on this day, killing tens of millions Americans across the country each year. It was horrifying times, but those are the lenghts one must prepared to go to if you wish to retain the freedoms handed down to this blessed people by God, who in turn had them handed down to him by TGSOC (The Great Spirit of Capitalism, holy-be-thou-nameth). Nowadays, youngsters like yourself sit on their fat asses all day, doing their Christmas shopping on the internet, oblivious to how their ancestors would sacrifice themselves on The Friday of Trampling Death, in order for their offspring to be able to live in prosperity, and that is why the government decided to cut the name to "Black Friday" in order to save ink when printing calendars.

Some people are crazy (0)

Anonymous Coward | more than 4 years ago | (#30261246)

They wait in lines in front of stores 2 days before Black friday. I find most of my tech/entertainment deals online (amazon, newegg) with no hassles of going into crowded stores. Some of the B&M retailers even have deals where you can order the stuff online and ship it for cheap or free.

Thursday morning (1)

vlm (69642) | more than 4 years ago | (#30261298)

I did all my online shopping Thursday morning... If not cooking, or while taking a break from the cooking, assuming the house is "decorated" enough, there is nothing else holiday related left to do.

Black friday deals ARE nice but... (1, Offtopic)

RyuuzakiTetsuya (195424) | more than 4 years ago | (#30261300)

Spent my day drinking with my girlfriend.

Screw deals. Booze and women are were it's at.

Re:Black friday deals ARE nice but... (-1, Offtopic)

sopssa (1498795) | more than 4 years ago | (#30261334)

That's what I actually always wonder. People always like to go for a guys/girls night out, while it's actually a lot more fun to get drunk with your girlfriend. Make some drinks, get naked, play wii, have sex and go out. And have sex again when getting back.

A lot nicer than hanging out in some bar drinking beer.

Sorry, what? (3, Insightful)

Anonymous Coward | more than 4 years ago | (#30261322)

How did your Black Friday turn out?

What is a "Black Friday", why is it black, why is it a Friday, and why is it important?

Re:Sorry, what? (1, Funny)

Anonymous Coward | more than 4 years ago | (#30261356)

Re:Sorry, what? (5, Funny)

Anonymous Coward | more than 4 years ago | (#30261362)

It's actually called African American Friday these days...

Re:Sorry, what? (0, Troll)

Firehed (942385) | more than 4 years ago | (#30261462)

Given that it's named after becoming profitable for the year, I think "Jew Friday" would make more sense. Well, aside from the whole Christmas thing.

*ducks*

Re:Sorry, what? (0, Flamebait)

marcarpoon (1689154) | more than 4 years ago | (#30261658)

Given that it's named after becoming profitable for the year, I think "Jew Friday" would make more sense. Well, aside from the whole Christmas thing.

*ducks*

Really? This gets a "funny" instead of a troll tag? Way to keep it classy, a-holes.

Re:Sorry, what? (0)

Anonymous Coward | more than 4 years ago | (#30261886)

Really? This gets a "funny" instead of a troll tag? Way to keep it classy, a-holes

He's one "Troll" and one "Underrated" away from the coveted (+5, Troll), and we'll finally get to see if there's an actual /. achievement for it.

(FWIW, I LOL'd. In context - in a thread that started about Black Friday vs African-American Friday - he's making a joke about PC/racism, not being racist. Besides, it's not like he suggested that with Christmas ads starting in Thanksgiving, and the history of Europeans vs. Native Peoples, that it should be called Indian Giving day :)

Re:Sorry, what? (1)

Firehed (942385) | more than 4 years ago | (#30265130)

Damn, always wanted to hit +5, Troll. Oh well.

Re:Sorry, what? (0, Flamebait)

djrok212 (801670) | more than 4 years ago | (#30261686)

Given that it's named after becoming profitable for the year, I think "Jew Friday" would make more sense. Well, aside from the whole Christmas thing.

*ducks*

Absolutely disgusting!!!! You are a horrible human!

Re:Sorry, what? (1)

Gerafix (1028986) | more than 4 years ago | (#30262066)

That's Zombie Jesus Friday to you, heretic!

Re:Sorry, what? (0, Troll)

armareum (925270) | more than 4 years ago | (#30263940)

That's Easter, fucktard

OK, for those not in the know. (5, Interesting)

gbutler69 (910166) | more than 4 years ago | (#30261492)

"Black Friday" is the Friday after Thanksgiving in the U.S. Thanksgiving is always the last Thursday in November. It is "Black" because retailers throughout the country count on the Christmas shopping season for the majority of their yearly profits. In other words, it is the day beginning the season when they hope to bring themselves "into the Black" (on an accounting sheet "Red" ink is used to indicate money owed, "Black" ink to indicate money made). If a retailer is "in the Red" they owe their suppliers more than they've taken in. If they are "in the Black" they have made a profit.

As far as why it is important? IT ISN'T. Not anymore. Whether or not retailers have a "good year" is now irrellevant to the U.S. economy. I've been carefully watching what is for sale in stores and almost none of it is manufactured in the U.S. So buying a bunch of stuff made in other countries (especially using further consumer debt) will do absolutely ZERO to improve the U.S. economy. Everyone should refuse to buy anything this year except for necesseties. If you want to give gifts for the spirit of the season, buy only locally made goods and services. Here are some suggestions:

  • Hire a Maid/House Cleaning service to give the house a good cleaning for your spouse, mother, or other special person
  • Hire someone to paint a room or fix something on the home of your loved one
  • Commission the making of a crotcheted Blanket, Sweater, Afghan, from one of the many people in your local neighborhood who does such crafts
  • Hire someone to "Detail" your loved ones car
  • Hire someone to "Cater" your Holiday Dinner or Family Get together
  • Buy your loved one a "subscription" to yard mainenance/landscaping service for one year
  • Buy your father, brother, or other loved one a "Gift Card" for automobile maintenance at the local Mechanic and/or Car Dealer
  • Buy locally hand-made furniture (from the Amish or other local providers), like a wooden rocking chair or dining room table, for your loved ones
  • Hire someone to "prepare a vegetable garden" for your loved one (turn the soil, remove the weeds/roots etc, get it ready for planting in the spring and/or do the initial planting)
  • ...You get the idea...

ANY of the above are 100% guaranteed to be better for the U.S. economy. If everyone did one of the above, the economy would be 100% back on its feet in no time flat.

Re:OK, for those not in the know. (1)

the positive path (1288162) | more than 4 years ago | (#30261628)

By Jove you've got it old man! Looking objectively at Black Friday as I do from up here in Canada (our Thanksgiving is spent in mid October mostly eating Turkey -- no shopping). However your point is well taken, as I see that almost all of our goods, as yours are all from foreign manufacturers. But services are always homegrown. Well done!

qbutler69: Nobody cares - LET THE LOSERS FAIL (-1, Flamebait)

Anonymous Coward | more than 4 years ago | (#30261656)

qbutler69,

Let the losers fail. All of the services you offered are OF NO VALUE TO MOST PEOPLE, with the possible exception of the automobile maintenance idea. The things those people can make are pathetic, obsolete junk. A blanket? Seriously? I could buy a better one at Target.

Realize this: America sucks at making stuff. So if you're not smart enough to make it in America and all you can do is pedestrian service jobs like catering and manufacturing rubbish sweaters, YOU DESERVE TO FAIL. AND YOUR FAMILY DESERVES TO FAIL.

We might as well take everyone on welfare (mostly white trash) and ship them over to China and use them as prison labor to make our stuff.

Regards,
Conscientious American

Re:qbutler69: Nobody cares - LET THE LOSERS FAIL (0, Flamebait)

gbutler69 (910166) | more than 4 years ago | (#30261700)

You are not a "Conscientious American". You sir, are a piece of shit! I say, try "exporting all the White Trash". They will fucking kill you! You are a complete asshole. What is so great about the JUNK selling in the stores. It is all complete crap! Any time you want, you and I can go toe to toe. I'll stand for my countrymen. You are a piece of garbage.

Re:qbutler69: Nobody cares - LET THE LOSERS FAIL (-1, Troll)

Anonymous Coward | more than 4 years ago | (#30261776)

qbutler69,

I voted for Barack Obama. I am a properly refined person. You are a xenophobic Republican with misplaced patriotism in a country of losers (mostly welfare-sucking whites). What is sold in stores is not junk, it is a better value and of better quality than anything the U.S. can manufacture.

The way I look at it, the exodus of wealth from the American middle class (a bunch of losers anyway) is a great thing for humanity as a whole. Finally, people in third world countries are getting real jobs. I'd rather see Americans poorer than see starvation in countries like India, Malawi, and Honduras.

This is Pareto's efficiency in action and the West are going to have to stop hoarding what is the world's resources.

Patriotism is a poor substitute for altruism towards your own.

"Where liberty is, there is my country."
-Benjamin Franklin

Regards,
Well-employed New Yorker

Re:qbutler69: Nobody cares - LET THE LOSERS FAIL (-1, Flamebait)

Anonymous Coward | more than 4 years ago | (#30261868)

qbutler69,

I voted for Barack Obama. I am a properly refined person. You are a xenophobic Republican with misplaced patriotism in a country of losers (mostly welfare-sucking whites). What is sold in stores is not junk, it is a better value and of better quality than anything the U.S. can manufacture.

The way I look at it, the exodus of wealth from the American middle class (a bunch of losers anyway) is a great thing for humanity as a whole. Finally, people in third world countries are getting real jobs. I'd rather see Americans poorer than see starvation in countries like India, Malawi, and Honduras.

This is Pareto's efficiency in action and the West are going to have to stop hoarding what is the world's resources.

Patriotism is a poor substitute for altruism towards your own.

"Where liberty is, there is my country."
-Benjamin Franklin

Regards,
Well-employed New Yorker

That's great that you voted for the "Clueless One", but frankly Scarlett, I don't give a damn. I hate to inform you, but voting for him in no way, makes you a refined person either. I'm surprised that you know someone's political stance without them even telling you.

From one "loser" to another (yes, you called yourself a loser), check the stats, most people on welfare are NOT white, instead, a large group of lazy American-Africans (you read it right, American Africans, unless they were born in Africa and emigrated here) that choose to let someone else do the work while they reap the benefits, all the while blaming the white man for their problems.

EPIC FAIL! (1)

gbutler69 (910166) | more than 4 years ago | (#30262566)

Bzzzt. Thank you for Playing. I donated over $4,000.00 to Barrack Obama's campaign.

Le'me guess? (1)

gbutler69 (910166) | more than 4 years ago | (#30262698)

Financial Services? Yeah, that is something. Fuck You! Real Americans (White, Black, Hispanic, whatever) will soon see the likes of you in the Gallows!

Re:qbutler69: Nobody cares - LET THE LOSERS FAIL (1)

Lore17 (1318959) | more than 4 years ago | (#30262838)

What the fuck? You can't justify being an asshole by voting for Barack Obama. Who cares how much you donated? There are plenty of wealthy successful asshole Democrats. Trust me, I am related to some of them.

And if it makes a difference to you,
I also voted for Barack Obama.

Re:qbutler69: Nobody cares - LET THE LOSERS FAIL (1)

Jah-Wren Ryel (80510) | more than 4 years ago | (#30264218)

You've been trolled. The guy clearly dislikes obama and was trying to parody his supporters.

The easy way to follow parent's advice. (1)

NoYob (1630681) | more than 4 years ago | (#30261672)

Just don't buy any consumer electronics. That'll cover most of it.

I know, that's heresy in the US at Christmas time.

Re:OK, for those not in the know. (2, Funny)

Thatmushroom (447396) | more than 4 years ago | (#30262022)

You could also "hire" an "editor" to "clean up" your superfluous use of "quotation marks".

Re:OK, for those not in the know. (4, Informative)

LordKronos (470910) | more than 4 years ago | (#30262198)

Thanksgiving is always the last Thursday in November.

No, it's not. It's the 4th Thursday in November. Usually that is the last, but occasionally there are 5 Thursdays (like there was in 2007). Thanksgiving will always fall in the range of Nov 22nd to 28th.

Woops! (0, Offtopic)

gbutler69 (910166) | more than 4 years ago | (#30262594)

I stand corrected. But, not really relevant to the point.

Re:OK, for those not in the know. (1)

PietjeJantje (917584) | more than 4 years ago | (#30262706)

That would not work. You owe to much, for example to the Chinese. The only reason they allow that, is because you keep buying. If you stop buying, they'll want you to pay your debt. You don't want to go there. Also, the worldwide economic crisis was caused by foreign banks buying American crap, otherwise it would have just been an American problem of overconsumption. Financial packages of bad mortgages. So a solution is not for Americans to buy less foreign crap, but for foreigners to buy less American crap.

I say, Let's go there and see. (1)

gbutler69 (910166) | more than 4 years ago | (#30262848)

I'm calling your bluff. Let's go there. Let's see where things end up.

Re:I say, Let's go there and see. (1)

PietjeJantje (917584) | more than 4 years ago | (#30263094)

The only one bluffing is you, because your proposal is a fantasy. Just pay your debts, please.

Bzzzt. (1)

gbutler69 (910166) | more than 4 years ago | (#30263254)

Haven't got any. I, unlike you, live within my means. Still, my point remains valid. There is absolutely NOTHING in it for the average American to continue to go an buy things for Christmas in order to prop up the economy. That is a fantasy that far too many have been sold on for far too long. Frankly, there is not one thing imported that this country needs (besides Oil). All the rest of the crap everyone buys is a bunch of over-marketed hype. Shove it up your ass!

Re:Bzzzt. (1)

mister_playboy (1474163) | more than 4 years ago | (#30263692)

If you are a citizen of the US, then you have a share of the national debt [brillig.com] hanging over your head.

The political propaganda used to obscure this fact does not change it.

Americans cannot continue to live this way forever.

Exactly my point. (1)

gbutler69 (910166) | more than 4 years ago | (#30264768)

Didn't I say they needed to STOP living this way?

Oh, and by the way... (1)

gbutler69 (910166) | more than 4 years ago | (#30263268)

...who are you going to send to collect? Anyone? Buehler?

On another note. (1)

gbutler69 (910166) | more than 4 years ago | (#30263332)

How did things get this way? How did the U.S. go from being the world's preeminent manufacturer to today? You would like everyone to believe it is because Americans are Lazy and Stupid. Sorry, but, you are in for a BIG SURPRISE.

It happened because, in this country, people gave a damn about one another and so pushed/fought for worker protections, health care, job safety, living wages, and a modicum of respect. They fought (with their blood) to not have factories dumping toxic pollutants into their water supply and poisoning their environment for themselves, and their progeny. They fought to have some semblance of a fair and equitable society where even the least amongst us could live with some dignity.

Then, along came the profiteers, regrouping, realizing that they had lost the battle here and they could no longer exploit the American worker. But, here, there, and everywhere they saw where the poor of the world could be exploited while at the same time undercutting the advancement of their own countrymen. They gave not a hoot for their fellow Americans, just like they give not a hoot for anyone else in the world. The only thing the believe in is enriching themselves, no matter the expense to others.

That's OK, the people of America will RISE UP! They will grab their guns and their ammunition. They will suffer what they must suffer and they will BURY YOU! We are not cowardly livestock waiting for you to dole out our daily feed. We come from the stock of pioneers and risk-takers. For too long, the American people have been sung a lulla-bye to make them sleep. But, you shall see, the sleep will awaken!

You align yourself with those that would exploit the common man (American or otherwise) at your peril. The will of the many will surely put the egomaniacle few who think they are beyone reproach and are entitled to the fruits of others labors in the gallows. They will line them up against the wall and put a lead slug directly in their skull-cap. Make no mistake, your arrogance will be YOUR undoing!

Re:On another note. (0)

Anonymous Coward | more than 4 years ago | (#30263528)

Cool story, bro.

Re:On another note. (1)

PietjeJantje (917584) | more than 4 years ago | (#30263688)

Words. You will only post angry words on a forum of no consequence, and you will move along. This is because you are a coward and will not rise up.

To quote a famous American Patriot... (1)

gbutler69 (910166) | more than 4 years ago | (#30264040)

The pen is mightier than the sword.

Yes, just words!

Re:To quote a famous American Patriot... (1)

RicardoGCE (1173519) | more than 4 years ago | (#30264246)

The pen is mightier than the sword.

Yes, just words!

Dude, he was British. And he was born 30 years after the American Revolution.

So he was... (1)

gbutler69 (910166) | more than 4 years ago | (#30264760)

...the point still stands.

Re:I say, Let's go there and see. (1)

Jah-Wren Ryel (80510) | more than 4 years ago | (#30264250)

The only one bluffing is you, because your proposal is a fantasy. Just pay your debts, please.

If the US gets to the point where it seriously considers defaulting on all those t-bills, everything will already be so fucked up that the rest of the world will already be in too bad of a shape to do anything about it.

Re:OK, for those not in the know. (1)

happyhamster (134378) | more than 4 years ago | (#30263280)

We don't necessarily want to go there because it would be somewhat ugly for all the countries involved, but it would actually hurt U.S. creditors more than the U.S. They say, "if you owe the banks one thousand dollars, you have a problem; but if you owe the banks one billion dollars, the banks have a problem." The U.S. creditors are sitting on nothing more than a huge pile of paper promises by the U.S. to pay. If U.S. defaults, the major consequences would be a large jump in prices on imports, including oil and electronics. It would hurt the U.S. quite a bit, but it would be nothing compared to what would happen to major creditors' economies. China, Japan, etc. economies would collapse, with widespread civil unrest, wars, and starvation. Europe would also be hurt a lot. And the creditors know this. So no, they would not try to force U.S. to pay a large portion of the debt anytime soon even if U.S. starts slowly winding down purchases of foreign crap.

It would be in the long term interest of all involved parties for U.S. to slowly pay off its debt by gradually re-balancing its economy to manufacture more and to buy less chinese junk.

Re:OK, for those not in the know. (1)

mister_playboy (1474163) | more than 4 years ago | (#30263730)

It would be in the long term interest of all involved parties for U.S. to slowly pay off its debt by gradually re-balancing its economy to manufacture more and to buy less chinese junk.

Do you honestly think that will happen? I certainly don't. US politicians have no interest in increasing taxes and decreasing spending because that doesn't get them votes. US citizens have no interest in buying less Chinese junk because their self-identity comes from being consumers, and because the vast majority of them have lived most of their lives in personal debt and they have less and less ability to get out of debt.

The resolution to this situation is going to have to be painful, because no interested party is going to willingly sacrifice to correct the problem. Everyone will eventually be forced to sacrifice.

Re:OK, for those not in the know. (0)

Anonymous Coward | more than 4 years ago | (#30264216)

I don't know to what extent his proposed solution would work (although I'm sure it would help local economies, esp. little mom & pop businesses), but it's my understanding that China has already begun to take action by investing more into other currencies and various commodities (e.g. gold mines in S. America). So the ball is already rolling...

Re:OK, for those not in the know. (1)

Troy (3118) | more than 4 years ago | (#30263288)

While these are all very good ideas, you're way overselling your case by saying that Black Friday is irrelevant to the US economy. The US economy does not solely consist of manufacturing. We've lost a lot of manufacturing over the years, and that has hurt us.

Nevertheless, you're forgetting about the people working the retail floor in some capacity, management at the store level (and above), support staff for management, warehouse workers, their management (and support staff), shippers (like truck drivers), their management (and support staff), marketing folks, etc etc etc.

Retail drives a significant portion of our economy and employs a large number of people. We can debate whether that it good or bad, but that's a lot of people hoping for strong Black Friday sales.

Re:OK, for those not in the know. (1)

gbutler69 (910166) | more than 4 years ago | (#30264012)

Well, as someone who created the software that managed the sales, finances, inventory, customer relationships, etc for a national retailer, I can say, without a doubt, that without Christmas, the company was a bust!

Re:OK, for those not in the know. (1)

Neoprofin (871029) | more than 4 years ago | (#30263612)

As someone who spent many years in retail, the Christmas season is a big money maker but it in no way accounts for the majority of any retailers profits. Calling it "Black Friday" is, for many retailers, an entirely recent thing and as best I know it's making reference to other days such as Black Tuesday for the panic and chaos associated with ever earlier opening and more stress and violence. Major retailers rarely operate at a loss, and they certainly didn't start while I've been in the job market.

Wiki'd just in case. [wikipedia.org]

Maybe so, but... (1)

gbutler69 (910166) | more than 4 years ago | (#30264016)

Woops! Replied to wrong parent.

Well, as someone who created the software that managed the sales, finances, inventory, customer relationships, etc for a national retailer, I can say, without a doubt, that without Christmas, the company was a bust!

Re:Maybe so, but... (1)

Neoprofin (871029) | more than 4 years ago | (#30264318)

Speaking from my store (as that's the only one I'm intimately knowledgeable about) an average weekday would gross the store approximately $85K, a weekend closer to $120K, for the Christmas shopping season pop the numbers up about 30%, but take into account keeping the store open 2-3 more hours a day, adding 20-30 new employees (normally around 200 full and part time) as well as increased hours for all of the part timers who otherwise wouldn't be working on given days. Day after Thanksgiving would usually pull around $490K if you look at the numbers, it's not a make or break figure. Payroll hours are budgeted based on sales so if the store isn't making it's numbers people just get sent home. Some days are better than others, but the store is generally in the black. Being in a university town we got almost the same bonus from kids shopping for dorm furnishings, though that's a shorter season.

I'd be interested to know about smaller retailers that make up the low volume with higher margins though.

Re:OK, for those not in the know. (3, Informative)

Anachragnome (1008495) | more than 4 years ago | (#30264454)

I've been trying to get my extended family to stop buying ITEMS as gifts for years.

Services, or better yet, EXPERIENCES, are something most people will remember for a lifetime. Often, people cannot even remember WHO gave them an item for Christmas.

The really nice thing about services/experiences, as a gift, is that you usually know who is benefiting from the purchase. Buy someone a round of golf at the local course? The guys working there at the course benefit. Buy someone a trip to Catalina Island for the weekend? The people that live there benefit. It keeps the money in OUR economy (unless you're buying someone a trip to Uruguay...but, hey, Urugauyans need money too. At least you know it is going to them and not some anonymous corporate shareholder).

Giving someone an experience...well, it is the gift that keeps giving regardless of time or place. You simply think about it to continue enjoying it.

My usual gift to the family is a lavish, one-of-a-kind Christmas dinner (I used to be a chef). Last year it was a cream-based bouillabaisse made with green-lip mussels, soft-shelled crab, sweet scallops, jumbo prawns, fresh Copper River Salmon and served with the best San Francisco sourdough bread I could get my hands on (not that crap from the supermarket...I prowl the city looking for the real stuff).

Sure, it was an object, but it was the experience of eating it with each other that my family remembers. And I know it isn't sitting, forgotten, in the back of the closet (at least I sure hope not!).
   

Next ... (0)

Anonymous Coward | more than 4 years ago | (#30261370)

Pass ... online retailers up the price just to reduce it ... will wait for the deals which await when shopping grinds to a halt in December again.

Brick and mortar? nope... online? yep! (4, Interesting)

Lumpy (12016) | more than 4 years ago | (#30261386)

I went to ZERO stores. I spent all my money online. I got deals from newegg that worst buy and the others could not touch even after shipping. Plus I did not have to stand in line for hours to get a chance as a cupon to buy a item, or elbow idiots in the face to stop crushing my wife. 4 years ago was the LAST time we went to a store on Black friday. She suffered 2 broken ribs and I had to physically assault 10 people to protect her from more harm.

I'm never going into a store for a black friday thing ever again, I can get better deals, save more, and do it in comfort away from the mobs of morons that lose all social ettiquette like not crushing people for some stupid shiny.

Re:Brick and mortar? nope... online? yep! (3, Interesting)

InlawBiker (1124825) | more than 4 years ago | (#30261480)

I agree. I was up early and on a whim went to the local Walmart to check out this "Black Friday" phenomenon. It was a ridiculous mess of rude people and massive lines. I got a coffee and went home, and calculated that most of the deals at Newegg are exactly the same and sometimes cheaper, minus the long lines and degrading experience. In any case, it'd be worth it to spend some extra money to AVOID Black Friday crowds.

It was a fascinating experience but I won't do it again.

Re:Brick and mortar? nope... online? yep! (5, Funny)

Dachannien (617929) | more than 4 years ago | (#30261610)

I was up early and on a whim went to the local Walmart to check out this "Black Friday" phenomenon. It was a ridiculous mess of rude people and massive lines.

But it's like that at Walmart every day.

Re:Brick and mortar? nope... online? yep! (0)

Anonymous Coward | more than 4 years ago | (#30264780)

But it's like that at Walmart Always.

Fixed that for ya/

Re:Brick and mortar? nope... online? yep! (1)

tepples (727027) | more than 4 years ago | (#30261614)

I got deals from newegg that worst buy and the others could not touch even after shipping.

Even after return shipping when you receive the product and find it defective? There's a Best Buy a block away from where I get groceries, so I can return something next time I'm out grocery shopping without having to pay UPS beaucoup bucks.

Re:Brick and mortar? nope... online? yep! (1)

Cylix (55374) | more than 4 years ago | (#30261716)

There are a lot of retailers that will soak the cost of a return shipment item. I know several that include the shipping label with the package should you decide to use it.

I know some that will just soak any cost to keep you a customer.

While you can't find every super open ended policy published it is still entirely possible to review the written return policy prior to purchasing.

Re:Brick and mortar? nope... online? yep! (0)

Anonymous Coward | more than 4 years ago | (#30263750)

Yes, Newegg for instance (last time I bought there) has a return policy that is pretty good. I believe they send a box if I remember correctly, you place it in the box and send it off.

Re:Brick and mortar? nope... online? yep! (1)

noidentity (188756) | more than 4 years ago | (#30262822)

I went to zero stores. I went to zero online retailers. I just enjoyed watching all the mayhem from my computer screen.

Yet more evidence (0, Troll)

Anonymous Coward | more than 4 years ago | (#30261402)

That America is a country of weak-minded sheep.

Yeah? (1)

gbutler69 (910166) | more than 4 years ago | (#30262658)

And how is this different from any other country? 50% of people are BELOW AVERAGE on ANY measure you care to choose.

Re:Yeah? (1)

c_sd_m (995261) | more than 4 years ago | (#30263024)

And how is this different from any other country? 50% of people are BELOW AVERAGE on ANY measure you care to choose.

Even assuming it's a 1-dimensional measure, that's not true in general. It's true in many cases since symmetric distributions are common, although it can happen with non-symmetric distributions, but there are plenty of cases where it's not. If 95% of people love TV, giving it an approval rating of 90%, and 5% of people hate it, rating it 0%, then the average rating is 85.5% but only 5% of people are below that average. Alternatively, how about number of toes? The average is very close to 10 and there's no way 50% of people have fewer than 9.99 toes. Unless you mean average as median but usually it implies the arithmetic mean.

Re:Yeah? (0)

Anonymous Coward | more than 4 years ago | (#30263668)

you meant median

True, I did. (1)

gbutler69 (910166) | more than 4 years ago | (#30263984)

But, there is the technical meaning of "Average" and then there is the colloquial meaning. I was using the colloquial meaning, which is to say, average is 1/2 the members at or below, and 1/2 at or above. I know that isn't the correct mathematical meaning of average, but, it is the meaning that *most* average people think of.

Better than being with the lemmings ... (4, Interesting)

schwit1 (797399) | more than 4 years ago | (#30261406)

Re:Better than being with the lemmings ... (1)

NixieBunny (859050) | more than 4 years ago | (#30263074)

Man, that looks like fun!

Re:Better than being with the lemmings ... (1)

chucklebutte (921447) | more than 4 years ago | (#30263682)

Every single picture has nothing but dumpy looking people in it. Those people are pitiful.

bing! (0)

Anonymous Coward | more than 4 years ago | (#30261430)

bing offered quite a bit of cashback (up to 20% on dell and 10% on ebay) to any user with a paypal account starting on black friday

"Cyber Monday" (0)

Anonymous Coward | more than 4 years ago | (#30261524)

I had forgotten entirely about the "Cyber Monday" idea until some spam helpfully reminded me. If online sales switch to Friday, I'd be sad to see our most doubly-entendred day disappear.

With all that foot traffic in stores (1)

knavarathna (1689152) | more than 4 years ago | (#30261664)

Must have sucked to be a walmart greeter on black friday. Good to see that online sales are becoming more of the norm.

Record-Breaking Fraud? (1)

Macrat (638047) | more than 4 years ago | (#30261782)

That's what eBay/PayPal is known for anyway.

Actively Eschew (4, Funny)

alex_guy_CA (748887) | more than 4 years ago | (#30261902)

Yesterday I was cold (older houses in California are not insulated, so even though it is only 55 degrees Fahrenheit outside it is still freezing in my office.) I thought, I should go buy some long underwear. Then I remembered what day it was, and put on a hat instead. Also, a friend from Japan posted on Facebook "What is black Friday?" My answer: "It is a day Americans commemorate the blackness of their souls by leaving what should be the joy of the company of their families to spend money they don't have on shit they don't need."

UNamerican (1)

anonieuweling (536832) | more than 4 years ago | (#30261984)

Do you mean that those recordspending whatever moments mean that the public knows that the system is gonna crash? That they spend it before it is too late?

Why Me... (4, Interesting)

Jah-Wren Ryel (80510) | more than 4 years ago | (#30262002)

PayPal processed 20 percent more transactions on Black Friday compared to last year.

I didn't buy anything this black friday, not even online. But I can certainly see how paypal's volume would be up - so many credit card issuer's are screwing themselves by jacking up the fees now that it makes more sense to use paypal to transfer directly from your checking account than it does to use a credit card.

The fee that pushed me over the edge are these new "foreign transaction fees" - not "foreign currency exchange fees" but simply "foreign transaction fees" - almost all the major banks are charging a couple of percent for any transaction even vaguely outside the local borders. I bought two things on ebay via paypal but with my credit card - the transactions were back to back on my statement and one of them had a ~$1 extra tacked on for this "foreign transaction fee" because the seller was in canada - even though the statement showed identical entries for the merchant field (paypal, there address in california and their phone number in california). Even though the auction and payment was in US dollars and through paypal - Bank of America slammed me with this ridiculous fee on one charge but not the other. The next week I purchased an online game subscription in us dollars, but apparently the parent company is in germany so wham another 50 cent fee out of nowhere.

When you can't tell at the point of sale what the total cost will be, then that is a huge incentive to move to a different method of payment where the costs are known up front. Dumbass Bank of America has lost the revenue from ~$1000 worth of monthly online purchases but they nailed me for just under $2 in abusrdist fees, hope it was worth it!

(And when I called to register a complaint, the dumbass service representative spent 15 minutes trying to convince me that the government has made these new fees mandatory and that it wasn't BoA's fault (which is utter bullshit, confirmed on sites like the consumerist and bankrate), when all I wanted him to do was write down that I was unhappy about the fees because there was no way to know up front if the fee would apply or not)

Re:Why Me... (3, Interesting)

mister_playboy (1474163) | more than 4 years ago | (#30263854)

Banks have received government bailout money (coming ultimately from taxpayers) and have engaged in a huge program of bumping rates and fees recently to squeeze money from cardholders. It's a total farce.

I've fallen behind on my credit card payments since I've lost my job, and I plan to go through bankruptcy since I have few assets and my credit is already ruined. I originally thought I could pay the debt back, but now I'm filled with a desire to punish the banks. How else can I hurt them except by defaulting on my debt?

Re:Why Me... (3, Insightful)

Jah-Wren Ryel (80510) | more than 4 years ago | (#30264154)

How else can I hurt them except by defaulting on my debt?

Not much you can do except maximize the amount you default on.

I've been thinking that if someone really wanted to put the screws to the banks they could take on a massive amount of debt as they neared end of life - really max out all available credit, transfer the cash and any other property to friends and family and then die with absolutely no assets left in their estate.

Re:Why Me... (2, Interesting)

Eil (82413) | more than 4 years ago | (#30265200)

Paypal has foreign transaction fees [paypal.com] too. $0.30 + nearly 4%. I found out about this the hard way because I sold a high-value item to someone that had a Florida address, but whose Paypal account was apparently linked to a foreign bank. As a result, I paid about $30 extra in Paypal fees on a hand-made item that only had about $100 in pre-fee profit as it was. (And if you're wondering, the buyer was legit: not a scam.)

As a buyer, you never see these fees (and the seller is prohibited from adding them only to international orders), but rest assured that nearly all sellers take them into consideration when pricing their merchandise if any significant percentage of their sales are foreign.

Stating the... (0)

Anonymous Coward | more than 4 years ago | (#30262118)

Obvious.

What will ever happen next... People buying chocolate for easter?! Blasphemy.

What A Horrible Name (1)

DynaSoar (714234) | more than 4 years ago | (#30262248)

It's the time of year to celebrate many different things religious or religion-derived. So true to form the marketoids come up with a name that not only ignores the origin of the celebrations but also ignores itself, instead focusing entirely on the only thing the marketoids can perceive, making money.

Every time I see the words I cringe. How do you answer "How did your Black Friday turn out?" Well, let's see. I went to a leadership seminar hosted by Charles Manson then had lunch with Jeffery Dahmer. After lunch I signed up for flying lessons so I can learn to fly an airliner, but not land it.

Ho80 (-1, Redundant)

Anonymous Coward | more than 4 years ago | (#30263748)

Locating #GNAA, could sink your in e7ernity...Romeo

It's actually drastically DOWN. More than a third (0)

Ungrounded Lightning (62228) | more than 4 years ago | (#30263830)

GLD closed at $80.31 last Black Friday and $155.06 this one. (GLD is an exchange traded fund that tracks the price of gold. One share is the price of 1/10th ounce. I use it as a proxy for the price of gold because it was quick to look up.

That says the price of gold went up by over 43%. Since gold is essentially stable in value, it says the Dollar inflated by about 43%. So if the sales, denominated in dollars, only went up by 20%, they dropped drastically (in terms of gold or a gold-backed currency).

(1.2 * 80.31 / 155.06) -1 = -37.85% Down by more than a third.

Huh? (2, Insightful)

gbutler69 (910166) | more than 4 years ago | (#30264552)

What makes you think Gold is stable in value with respect to all other commodities?

Re:It's actually drastically DOWN. More than a thi (1, Informative)

Anonymous Coward | more than 4 years ago | (#30265626)

GLD closed at $80.31 last Black Friday and $155.06 this one. (GLD is an exchange traded fund that tracks the price of gold. One share is the price of 1/10th ounce. I use it as a proxy for the price of gold because it was quick to look up.

That says the price of gold went up by over 43%. Since gold is essentially stable in value, it says the Dollar inflated by about 43%. So if the sales, denominated in dollars, only went up by 20%, they dropped drastically (in terms of gold or a gold-backed currency).

(1.2 * 80.31 / 155.06) -1 = -37.85% Down by more than a third.

How does this relate to the USD, which is not gold-backed?

I love it (0)

Anonymous Coward | more than 4 years ago | (#30263906)

Some people climb Mt. Everest. Some people run with the bulls. I like to risk my life on Black Friday.

It's not even to get good deals. It's an attempt to enter a store, find an item, and leave with both the item and my health intact.

my newegg experience was lousy (1)

TheGratefulNet (143330) | more than 4 years ago | (#30263960)

normally NE is the best. I do LOTS of business with them. more than I want to admit.

but let me say this upfront: the concept of 'doorbuster' does not, imo, apply to online stores.

that said, I got up an hour before 6am (pst) to be online and ready to order the netbook of my dreams.

I had my pc setup properly and all that. at 6am I keep refreshing until the new sale price appeared. added 1 (I'm not greedy; and I'll not go into THAT rant right now..) to my cart and tried to check out. it put me into a login cookie loop (I can normally buy at NE easily; like I said at the start). for 10 minutes it played this game with me. finally I WAS able to complete checkout AND do the credit card thing AND do the verified-by-visa thing. I got the email saying I reserved one and I was all happy ...

until half an hour later when newegg sent an email to me saying they 'ran out' and, well, tough shit, basically.

LAME LAME LAME!

newegg sucked big-time this year. their server fell down on the job and the saled dept ordered only 1000 (from what I learned later on on the phone with them). they advertise a special and have probably 1/10 the supply for the demand.

POOR SHOWING NEW EGG! ;(

so, basically, I got nada. I wanted that one item (or something close) and they were all gone at the attractive prices. which was the only real reason to jump on a luxury (for me) item in this 'bad economy', to be serious.

no good deal == no sale. and NE's servers blew it (and their sales dept, as well).

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