Buy-Curious

It's official. We're in a recession. But don't tell that to anyone who sought out retail therapy last Friday. Here are the stats: 172 million people went to shops, either in person or online. That's good for a 17 percent increase over last year's Black Friday weekend. These shoppers spent an average of $372 over three days, up 7.2 percent from last year.

That's a lot of cash to unload when money is tight. Certainly it stands to reason that when the economy is bad, people are looking to save as much as they can, but Black Friday is still a ridiculous phenomenon. To be honest, I've never understood how door-busters don't become bank-busters for companies. How can a retailer possibly bring prices so low? It's always seemed to me like bad business to entice people to buy most of their Christmas presents at an astonishingly discounted price. And let me tell you, I know a good business practice from a bad one; I got a B in Econ 51.

I was initially inclined to believe that massive discounts were feasible because the prices of goods are massively marked up to begin with. Without any economic expertise, I'm ready to announce that this is absolutely true. The difference between a Louis Vuitton handbag and a knockoff is exactly one label and $500 on the price tag. If all retailers started selling their products at knockoff prices, I'm pretty sure they'd still make a hefty profit. Trust me, I got a B+ in Econ 55.

It was only last week that I discovered the more important reason why companies can-and do-mark down prices right after Thanksgiving. Somehow, I had managed to go my whole life without actually shopping on Black Friday until five days ago. I hardly made up for the long hiatus. I came to the mall just to buy a new pair of sneakers, and walked away with two pairs of sneakers, a navy suit, three sweaters, a Chicago Bears hoodie, a winter coat, two dress shirts, a belt and a maroon tie. Unimpressive, I know.

Having finally partaken of the sweet nectar of Black Friday deals, I finally understand what retailers are thinking. It's really impossible to stop shopping once you've started. Like cocaine, bargain hunting reels you in, grabs you tightly and makes your face ashen and your neck itchy. It's hard to pass up that 72 percent off diamond-studded dog collar, even though you came for the slacks. Even when we're in a full-blown, official recession (it wasn't official until The New York Times declared it), people are willing to drop bundles on cheap goods.

While I'm on the topic of gleaning insight into the economy based on my personal experiences, I'm expecting a major upswing in the near future. I personally drained my bank account down to its last $11.17, and am primed to seek gainful employment over the summer. I'm sure I'm not the only one who's ready to get back to work to make up for a blowout Black Friday. You can trust me; my girlfriend took Econ 105.

Danny Lewin is a Trinity junior. His column runs every other Wednesday.