28/11/2024
Black Friday has become synonymous with overconsumption, with some reports suggesting that up to 80% of purchases may end up in landfills.
Is Black Friday to blame for this issue? Not entirely. As the saying goes, “It’s the economy, stupid.”
Consider this: if you need a new pair of running shoes today and can get them at a discounted rate, are you doing something wrong? Your response might be, “No, but Tim, we aren’t talking about just one pair of running shoes; we’re referring to individuals maxing out their credit cards on items they don’t need simply because they’re on sale.” And you’re correct.
Let’s be honest—this behaviour isn’t limited to a single day. Consumers have been conditioned to “wait for the sale” or “never buy at full price.”
My challenge is: Do you want to call it Green Friday because your product is sustainable? Go further - insist your customer returns an existing product to get the discount - bring one back before you buy another.
We won’t solve the environmental and social crises simply by telling people to “stop buying things.” Ironically, most people dislike being told what to do.
This morning, I encountered a new term: “ensh*ttification” - see the image to learn what this means!
The good news is that genuine efforts are underway worldwide to reverse this trend. By raising awareness of the factors and helping brands and businesses adopt better practices, we can collectively shift the economy’s fundamentals back toward a pre-hyper-consumption era. This means higher-quality products that last longer, customers who feel valued, businesses that achieve more significant profit margins, and less waste.