Black Friday: Savings, at a cost

Outdoor retail store Recreational Equipment Inc. (REI) recently announced that all of its 143 stores will be closed on Black Friday, giving its employees the day off with pay.

REI created the hashtag #OptOutside in order to promote the idea of spending Black Friday outdoors, rather than shopping in stores. This is the first time a major retail store has decided to close down for Black Friday.

“Black Friday is the perfect time to remind ourselves of the essential truth that life is richer, more connected and complete when you choose to spend it outside,” REI CEO Jerry Stritzke said in a statement on the REI website. “We’re closing our doors, paying our employees to get out there, and inviting America to #OptOutside with us because we love great gear, but we are even more passionate about the experiences it unlocks.”

Most major retailers open as early as 5 a.m on Black Friday, which is typically the largest and busiest day for shopping. Because of their decision, REI could potentially lose an opportunity to make a large profit, but their decision led to increased popularity among consumers.

“I think that’s great. I think that people deserve a day off and that it’s good that they can go do their own thing,” Krishna Bheda (10) said. “I think maybe that just shows that the store has a greater value for people more than just the money.”

A few other companies have also decided to close on Black Friday; British retailer Asda announced last week that it would not participate and Ohio-based store Park + Vine also said it would opt out, instead encouraging others to join their employees on a six-mile hike.

During the week before Black Friday, is common for shoppers to camp out in front of stores to try to beat crowds. In 2011 a tent was set up five days before Black Friday at a Best Buy store, and four more had joined by the following morning.

Because of the number of people gathered, several stampedes have occurred as people rush to find deals, and brawls over a last item are not uncommon. Since 2006, there have been seven deaths and 98 injuries caused by Black Friday shopping.

Despite these occurrences, stores still expect an increase in customers. Forty-one percent of retailers predict an increase in sales, while most expect a 2.4 percent increase in total sales.