It’s Black Friday! Do not miss out on exclusive discounts and deals …
This is how many Black Friday campaigns start and immediately our eyes are drawn to them. But let’s stop and think for a minute about the effects that this day has, especially on the environment (and our pockets).
Estimates are that up to 80% of everything bought on Black Friday ends up being thrown away without being used much or at all. Whether people shop online or go to stores where everyone seems to have caught a bad case of mass hysteria, there is a lot of waste resulting from that. It is all the goods that are bought when not needed, thrown out, often ending up in landfills instead of being recycled. It is the packaging that is required to send all of those goods, and the transportation so that they can be delivered conveniently. All these steps result in GHG emissions and waste that floods the earth. Furthermore, global businesses profit greatly from it, while smaller and independent retailers lose out. Consumers also lose out as they spend money on things they do not really need, filling their homes but emptying their wallets.
The whole concept ends up promoting consumerism and the notion that people need to jump at every opportunity to buy things, just because the price is low or because of FOMO. Here principles of marketing and emotional triggers are key, yet the ethics around these are a minefield. These marketing tactics push for increased purchases and the notion that having more is required to be satisfied. The only real advantage to those sales is that it translates into additional profits for businesses. Despite the increased awareness around the need to reduce consumption, Black Friday is still a prominent feature of today’s business world. With ESG becoming more important, corporations should take these problems into account to ensure more sustainable practices.
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