Black Friday Sales Are A Waste Of Time - New Survey

A Wakefield Research poll commissioned by The Western Union Company has found that 60 percent of respondents feel Black Friday deals do not live up to their hype.

The poll suggests that 30 percent of shoppers who participated in Black Friday sales in 2009 felt the time spent shopping was not well compensated. Furthermore, over half of 2009 consumers report the odds are they spent more money than was necessary and over one quarter polled said if they could do it over again they would not have ventured out.

A surprising fact revealed by the survey is that roughly $136 per person was spent on items other than gifts, such as gas, childcare, meals and parking. In many instances, any money saved on slashed prices on consumer gifts was thwarted by these other miscellaneous expenses.

The poll also suggest that cash gifts will be very popular this year. Over 52 percent say they intend to give cash as presents in large part due the the present economic climate.

“Imagine – no driving, no lines, no babysitter needed and your budget stays intact,” said Victoria Lopez-Negrete, Senior Vice President and GM, U.S. Money Transfer Product Management, Western Union.

“No gift is as ‘one-size-fits-all’ as cash.  This year consumers are likely to take a more wallet-conscious and sanity-saving approach to Black Friday and skip it altogether by choosing to give CASH,” added Lopez-Negrete. “Western Union simplifies holiday gift giving, helping consumers enjoy the sunrise from the comfort of their homes and avoid parking lot battles and department store disputes on Black Friday.”

To provide more gifting options to the public and aid people in the quest to keep to their holiday budgets, Western Union is implementing a “$50 for $5″ promotion. The promotion is Western Union customers can gift a sum up to $50 to anyone in the United States for only $5. Another part of the promotion offers customers the opportunity to send a holiday card that is personalized highlighted with a voice message.

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