It's a good thing if you can get the good deals. Every Friday after Thanksgiving in the US, stores open really early in the morning offering really low prices for clothes, electronics, home furnishings, toys, etc. It's like an early bird special. The really cheap deals are offered only for a few hours in the morning.
If you're not into crowds then this is not for you. People line up in front of stores as early as midnight. Some people will wait outside the stores the day before. It can be really crazy. Espcially at stores like Best Buys or Circuit City where everyone is trying to get the big flatscreen tv's for nearly half their original price.
I didn't go this year. When I go it's mainly for things for me.