What is Black Friday?
What is Black Friday?
Black Friday is the day after Thanksgiving Day, which falls on the fourth Thursday of November.
Since 1952, Black Friday is regarded as the unofficial start to the Christmas holiday season and the most exciting time to shop in the United States. With retailers slashing prices and running exciting promotions, this is a time where consumers head out to shop big to maximise savings for Christmas festive season.
In the past decade, the popularity of Black Friday has extended its reach to the international stage to become one of the biggest global shopping events of the year after Alibaba’s Singles Day. As the event continues to grow in popularity with more retailers from countries outside of America running their own Black Friday promotions–the question remains: How did Black Friday came about?
Here are some interesting facts to know about this mega global consumption event:
- Black Friday used to refer to stock market crashes in the 1800s–for centuries, “black” was a word used to describe various calamities.
- In the mid-19th century in America, Black Friday got its name for the spike in traffic congestions, traffic accidents, or/and violence due to the mayhem caused by the huge droves of people going out to shop on this day.
- As Black Friday is the most profitable day of the year for major retailers, it is now described as a day of going from being “in the red” to being “in the black” to shake off its original negative connotation – in accounting, the colour red shows loss while the colour black signify profit.
- Black Friday gained its popularity in recent times when it was introduced as a sale period where prices of expensive electronics are slashed to affordable prices. This makes Black Friday the best time to treat yourself to the latest tablets, headphones, cameras and other electronic gadgets.
- With the initial success of these sale campaigns, it was no surprise when major retailers jumped on the bandwagon to run similar promotions. Expect to see discounts on every category of shopping products making Black Friday is the best time to get your holiday gifts in the lead up to Christmas.