Black Friday is one the biggest shopping days of the year in the United States – and it has become increasingly popular since the concept spread to Britain around four years ago. The Black Friday frenzy is a boost for retailers such as Amazon, who are hosting a two-week sales event this year, Black Friday but it also means chaos in stores and supermarkets on the Black Friday on 25 November.
What is Black Friday
The Black Friday After Thanksgiving (Friday) is known as Black Friday. This also is unofficially or officially start of holiday shopping season. Almost all stores come out with Doorbuster Sales with early bird special to attract consumers to their stores. People stand in line hours before store is opened, to grab the bargain of the year. Almost every store has something that interests every one. For bargain hunters, if there is a biggest festival in a year, that would be, no doubt, the Black Friday.
In last few years(starting from 2013 to be precise),Black Friday Sales have started way before Friday-with some stores starting their Black Friday sales on Thanksgiving day & some even starting on Wednesday. It would not be surprising to see Black Friday sale starting from Monday on that week. Therefore, revenue wise this is NOT the best day for stores.Biggest sales day now include Thanksgiving day, Green Monday and Cyber Monday.
Black Friday Facts
Black Friday was once called “Big Friday”
According to a 1975 report from the NY Times, the term “Black Friday” is Philadelphia slang. This is because the police had become frustrated with the traffic congestion caused by shoppers on that day, and the retailers weren’t happy to be associated with traffic and smog. So, in 1961, one newspaper tried to rename the day as “Big Friday”, but, as you already know, this term didn’t stick around long. Though it had been popular in Philadelphia, “Black Friday” was not an official national term until the 1990’s.
Holiday shoppers indirectly determined the date for Thanksgiving
From the mid-19th to the early 20th century, the US president would declare a “day of giving thanks” on the last Thursday in November. This changed in 1939 when the last Thursday was the last day in the month. Retailers were afraid that the holiday season would be shortened and therefore, petitioned the president to declare the holiday be held one week earlier. In 1941, Congress created a joint resolution to clear things up. After that, Thanksgiving was always celebrated on the fourth Thursday in November, which gave shoppers one extra week to shop before Christmas.
Black Friday has spread to over 15 countries in the world
For many years, Canadian retailers would worry when their customers went into the States on Black Friday in search for great deals, which forced them to start their own Black Friday deals, since then, various other places in the world have taken on this tradition including the UK, Brazil, India, France, Norway and many more.
Black Friday wasn’t officially claimed to be the busiest shopping day of the year, until 2001
Black Friday was thought of as being the biggest shopping day of the year, however, it was actually the Saturday before Christmas that beat it every year until 2001.
In 2011, Walmart broke the tradition of Black Friday
The tradition of Black Friday was broken when Wallmart opened up their store on the evening of Thanksgiving. Since that time, the retailers are engaged in a race against the clock to catch up with the times. These days, 33 million Americans plan to run out shopping as soon as they finish their Thanksgiving feast. This is known as Grey Thursday.
In the 1800’s, the term “Black Friday” was used in reference to the stock market crashes
The term was used for the first time on 24th September 1869 when James Fisk and Jay Gould were trying to corner the gold market on the NYSE. The Black Friday However, the government stepped in and flooded the market with gold, causing prices to fall and many investors to lose their fortunes.