All about The Black Friday

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The Black Friday

 (on Friday, November 24, 2023)


What is Black Friday?  Black Friday is an annual shopping event that takes place the day after Thanksgiving, which falls on the fourth Thursday of November in the United States. The term "Black Friday" has been used since the early 1960s to mark the kickoff of the holiday shopping season. The day is characterized by retailers offering significant discounts and promotions, attracting large crowds of eager shoppers both in-store and online.

Why is it called black in Black Friday?

So, how did a shopping event get its name? Many theories have circulated, including that the name derives from stores earning profit from holiday sales, or going "into the black" after operating at a loss throughout the year or being "in the red," The History Channel reports.

Here are some key aspects of Black Friday:

1.     Origin of the Term: The origin of the term "Black Friday" is somewhat unclear. One popular theory suggests that the name originated in Philadelphia in the 1960s. It was used to describe the heavy and disruptive pedestrian and vehicle traffic that occurred on the day after Thanksgiving. Another theory links the term to the accounting practice of recording profits in black ink and losses in red. Retailers traditionally operated at a financial loss for most of the year and would only turn a profit ("in the black") during the holiday season.

 

2.     Shopping Tradition: Black Friday marks the unofficial start of the holiday shopping season, and many retailers open their doors early, sometimes even in the early hours of the morning, to accommodate the influx of shoppers. In recent years, some stores have even started opening on Thanksgiving evening.

 

 

3.     Deals and Discounts: One of the defining features of Black Friday is the significant discounts offered by retailers. These discounts are often on popular items such as electronics, toys, clothing, and home goods. Shoppers can find doorbuster deals, limited-time offers, and special promotions designed to attract customers and boost sales.

 

4.     Online Shopping: While Black Friday traditionally involved in-store shopping, the rise of e-commerce has led to a significant increase in online shopping during this period. Many retailers offer Black Friday deals both in-store and online, and some even extend the sales throughout the entire weekend, culminating with Cyber Monday.

 

5.     Cyber Monday: Following Black Friday, Cyber Monday is another major shopping day, focusing on online deals. It was created to encourage people to shop online and has become increasingly popular with the growth of e-commerce. Retailers often extend their Black Friday promotions into Cyber Monday, providing consumers with additional opportunities to save on their holiday purchases.

 

6.     Consumer Behavior: Black Friday is known for its frenzied and sometimes chaotic shopping environment, with shoppers lining up outside stores well before opening hours. In recent years, there has been a growing trend of consumers opting for online shopping to avoid the crowds and take advantage of virtual deals.

 

7.     Global Phenomenon: While Black Friday originated in the United States, it has become a global phenomenon. Many countries around the world, including the United Kingdom, Canada, Australia, and various European nations, have adopted the tradition of offering Black Friday deals, even if they don't celebrate Thanksgiving.

 

8.     Controversies: Black Friday has faced criticism for promoting excessive consumerism, encouraging impulsive buying, and contributing to overconsumption. Additionally, reports of shopper stampedes, violence, and accidents have sparked safety concerns, leading some retailers to reevaluate their Black Friday strategies.

In summary, Black Friday is a significant retail event that has evolved over the years, shaping the way people approach holiday shopping and influencing consumer behavior both in-store and online. While it remains a day for incredible deals and promotions, it also sparks discussions about the impact of consumerism on society.

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