Those Black Friday deals may not be what you think
Though many focus on spending time with loved ones over the holidays, Black Friday and Cyber Monday deals attempt to dominate consumer attention with the apparent promise of savings that cannot be found any other time. But that’s not completely true, explained Alex Mill Chairman Mickey Drexler to Yahoo Finance Executive Editor Brian Sozzi on Opening Bid.
The retail legend, who made his mark as the CEO of J. Crew and Gap Inc. as well as the founder of Old Navy, has very mixed feelings about Black Friday, which he has since coined ‘Black November.’ “Certain department stores would take an excess markup—higher than normal—so that when it was put on sale, their normal margin was then ‘on sale’ because they wanted to show the sale price,” he explained.
For full episodes of Opening Bid, watch on our website or listen on your favorite podcast platform.
This post was written by Rachael Lewis-Krisky, producer for Opening Bid.
#Black #Friday #deals