Black Friday
Black Friday takes place on the Friday after Thanksgiving or the fourth Thursday in November. It is one of the busiest shopping periods in the United States as shops and businesses roll out their biggest sales discounts of the year, enticing shoppers with unbeatable deals.
Black Friday typically lasts from Friday to Monday. It marks the beginning of the Christmas season, giving consumers around one month to get their shopping done.
Although not a federal holiday, Black Friday is a public holiday in 22 states of the US. However, it is not a holiday in the United Kingdom and Canada.
Black Friday History: A Timeline of Events
1869
The term Black Friday was first used in 1869, when the stock market collapsed, causing a financial crisis in the US.
Two men named Jay Gould and James Fisk were responsible for the collapse. These financial speculators conspired and decided to buy huge amounts of gold so they could control the majority of the gold market share in the US. Their motive behind this was to drive up the price of gold and garner huge amounts of profit.
However, their plan was foiled when then President Ulysses S. Grant decided to put an end to this and ordered the Government authorities to sell huge parts of their gold. This measure plummeted the price of gold.
1924 saw the first-ever Macy's Thanksgiving Day Parade, attracting spectators to shop. Ever since then, the Friday after Thanksgiving has been known as the unofficial first day of the holiday shopping season.
During the 1960s, the name Black Friday began to be used in a more positive way, describing the fact that Philadelphia stores' profits moved from “the red,” meaning losses, to “the black,” meaning profits. This goes back to the way business accounts used to be recorded, with red and black ink representing loss and profit respectively.
In the early 2000s, retailers noticed that shoppers would go online the Monday after Thanksgiving. Thus, in 2005, Cyber Monday was born. The idea took off.
2010 saw the start of Small Business Saturday, the day after Black Friday, taking advantage of the trend for people to shop locally. Free online advertising helps retailers attract buyers.
Black Friday Chaos
Hordes of shoppers converging in one store have many times led to squabbles, stampedes, and fights. There have been 12 deaths and 117 injuries in recent years.
However, a larger shopping window, online sales, and better security and communication have meant that Black Friday today is a much safer shopping experience than it used to be.
Did you know that in 2010, a 21-year-old woman cut in line at the Toys R Us store and apparently threatened everyone present there to not move before her or that she will kill everyone? Yes, it can get crazy.
Across the globe
Black Friday may have its origins in America, however, it is now celebrated as a shopping holiday across the globe. Canadian and British shoppers have been the quickest to adopt it and add it to their calendars.
According to surveys, during Black Friday 2022, men in the UK planned to spend an average of £205, whilst women on average planned to spend £174. This is no surprise since the UK has one of the best Black Friday sales in the world where products are on average discounted by 63%!
Black Friday has even become popular in non-English speaking countries such as Spain where 53% of surveyed residents use the sales to buy fashion clothing and items. Besides Spain, Italy and Germany also have popular sales. However, maybe the most incredible fact is that during Black Friday 2018, a whopping 71% of Romanians reportedly took part in the sales.
Without a doubt, Black Friday is a global success story for both businesses and shoppers.
Black Friday Shopping Tips
We understand that it can be a little hard to control your shopping urgency with lucrative deals all around you but it is important to shop with a plan on Black Friday so that you get the best deals within your budget!
Doorbusters are good but compare prices online
Many retailers offer good deals online which are almost as cheap as doorbusters or in-store offers. So, whenever you see something you like, make sure to cross-check it online. Online deals have their own set of perks- no transportation or parking cost, no wastage of time and energy, no crowds, and so on.
Receipts are important
Do not forget to take receipts for every item you buy. Impulse buys are almost a tradition of Black Friday that you cannot avoid. Are you aware of price matching? It is when retailers reduce the price of a particular product you have bought if its cost goes further down in the future. This is a common practice during Black Friday so make sure to store your receipts because they might come in handy.
Reach the store early
The saying " Early bird catches the worm" is the most fitting phrase in this case. Black Friday is a time of frenzy shopping when people everywhere like to hoard items. In order to avoid the last-minute rush and traffic, make sure to reach the store on or before time. Moreover, the doorbusters have limited stocks so you might miss out if you do not reach on time.
Avoid Sizing Hassles
If you are buying clothes and are not sure about the fitting, make sure to order two sizes instead of one. Clothes go out of stock soon so it might be difficult to find the exact same one that caught your eye. In order to avoid this heartbreak, always buy two sizes so that you can return the ill-fitting one later
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