Assignment- Discussion Question- Auditing- Due Date-15th Nov’15
Thanksgiving, currently celebrated on the fourth Thursday in November, has traditionally been a celebration of the blessings of the (agricultural) year, including the harvest. Black Friday is the Friday following Thanksgiving Day in the United States. Since the early 2000s, it has been regarded as the beginning of the Christmas shopping season in the US, and most major retailers open very early (and more recently during overnight hours) and offer promotional sales. Many non-retail employees and schools have both Thanksgiving and the following Friday off, which, along with the following regular weekend, makes it a four-day weekend, thereby increasing the number of potential shoppers.
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Data from the National Retail Federation last year found that 32 percent of consumers who shopped over Black Friday weekend did so on Thanksgiving Day. That was flat with the prior year, despite the fact that retailers extended their hours. The need of retailers' to stay open boils down to what type of products they sell and the nature of their relationship to their shoppers. In other words, do consumers expect them to offer robust promotions? Regardless, it is admitted that Black Friday weekend in general is becoming less crucial to retailers and consumers alike, as shoppers can find steep discounts year-round.
Ethics and values – Thanksgiving is a day for family and community, a pause before the start of a hectic holiday season. It's not an overtly religious holiday, but somehow it has a spiritual tone to it that resonates across every ethnic and religious background. Yet in the last decade, it has allowed America's retailers to co-opt this day for their own greed, just as they have with almost every other holiday. It started with Black Friday. The stores kept opening earlier and earlier. And sadly, shoppers kept