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    Black Friday (shopping)

    Black Friday (shopping)

    From Wikipedia, the free encyclopedia

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    DC USA shopping center in Washington, D.C. on Black Friday in 2009

    Observed by Traditionally:[1]

    United States

    Others:

    Australia, Canada, United Kingdom, Liechtenstein, Germany, Poland, Italy, Greece, New Zealand, Norway, Sweden, Brazil, Mexico (as El Buen Fin) and increasingly many other parts of the world.

    Type Commercial

    Significance Popular shopping day

    Observances Shopping

    Date Day after U.S. Thanksgiving

    2021 date November 26

    2022 date November 25

    2023 date November 24

    2024 date November 29

    Frequency Annual

    Related to Thanksgiving, Small Business Saturday, Cyber Monday, Giving Tuesday, Christmas, Buy Nothing Day

    Black Friday is a colloquial term for the Friday after Thanksgiving in the United States. It traditionally marks the start of the Christmas shopping season in the United States. Many stores offer highly promoted sales at discounted prices and often open early, sometimes as early as midnight[2] or even on Thanksgiving. Some stores' sales continue to Monday ("Cyber Monday") or for a week ("Cyber Week").

    Occurring on the fourth Friday in November unless November 1 is a Friday (in which case it's the fifth Friday), Black Friday has routinely been the busiest shopping day of the year in the United States since 2005.[3][4][5]

    Contents

    1 Etymology 2 History

    2.1 "Black Thursday"

    3 Black Friday around the world

    3.1 United States 3.2 Canada 3.3 United Kingdom 3.4 Mexico 3.5 Romania 3.6 India 3.7 France 3.8 Germany 3.9 Switzerland 3.10 Australia

    3.11 Other countries

    4 Instances of violence and chaos on Black Friday

    5 Black Friday online

    5.1 High traffic challenges for retailers

    5.2 Advertising tip sites

    5.3 Cyber Monday 5.4 Cyber Week

    6 Retail sales impact

    7 See also 8 References

    Etymology[edit]

    For centuries, the adjective "black" has been applied to days upon which calamities occurred. Many events have been described as "Black Friday", although the most significant such event in American history was the Panic of 1869, which occurred when financiers Jay Gould and James Fisk took advantage of their connections with the Grant Administration in an attempt to corner the gold market. When President Grant learned of this manipulation, he ordered the Treasury to release a large supply of gold, which halted the run and caused prices to drop by 18%. Fortunes were made and lost in a single day, and the president's own brother-in-law, Abel Corbin, was ruined.

    The earliest known use of "Black Friday" to refer to the day after Thanksgiving occurred in the journal, , for November 1951, and again in 1952. Here it referred to the practice of workers calling in sick on the day after Thanksgiving, in order to have a four-day week-end. However, this use does not appear to have caught on. Around the same time, the terms "Black Friday" and "Black Saturday" came to be used by the police in Philadelphia and Rochester to describe the crowds and traffic congestion accompanying the start of the Christmas shopping season. In 1961, the city and merchants of Philadelphia attempted to improve conditions, and a public relations expert recommended rebranding the days "Big Friday" and "Big Saturday"; but these terms were quickly forgotten.[6][7][8][9][10][11]

    The use of the phrase spread slowly, first appearing in on November 29, 1975, in which it still refers specifically to "the busiest shopping and traffic day of the year" in Philadelphia. Although it soon became more widespread, reported in 1985 that retailers in Cincinnati and Los Angeles were still unaware of the term.[12]

    As the phrase gained national attention in the early 1980s, merchants objecting to the use of a derisive term to refer to one of the most important shopping days of the year suggested an alternative derivation: that retailers traditionally operated at a financial loss for most of the year (January through November) and made their profit during the holiday season, beginning on the day after Thanksgiving.[6] When this was recorded in the financial records, once-common accounting practices would use red ink to show negative amounts and black ink to show positive amounts. Black Friday, under this theory, is the beginning of the period when retailers would no longer be "in the red", instead of taking in the year's profits.[6][12][13] The earliest known published reference to this explanation occurs in for November 28, 1981.[14]

    Since the early 21st century, there have been attempts by U.S.-based retailers to introduce a retail "Black Friday" to other countries around the world. Retailers outside the US have attempted to promote the day to remain competitive with US-based online retailers.[15]

    In more recent decades, global retailers have adopted the term and date to market their own holiday sales.[16]

    History[edit]

    The day after Thanksgiving has been regarded as the beginning of the United States Christmas shopping season since 1952. The practice may be linked with the idea of Santa Claus parades. Parades celebrating Thanksgiving often include an appearance by Santa at the end of the parade, with the idea that "Santa has arrived" or "Santa is just around the corner" because Christmas is always the next major Christian holiday following Thanksgiving.

    स्रोत : en.wikipedia.org

    Why Is It Called Black Friday?

    You’ve probably heard that Black Friday is the day retailers go back “in the black,” but that’s not the true origin of the name.

    Why Is It Called Black Friday?

    By Don Vaughan Last Updated: Nov 18, 2022

    © rblfmr/Shutterstock.com

    The day following Thanksgiving—commonly referred to as Black Friday—has become one of the busiest shopping days of the year in the United States. National chain stores traditionally offer limited money-saving specials on a wide variety of goods in an effort to lure shoppers into stores while offering similar deals online.

    It is believed by many that the term Black Friday derives from the concept that businesses operate at a financial loss, or are “in the red,” until the day after Thanksgiving, when massive sales finally allow them to turn a profit, or put them “in the black.” However, this is untrue.

    A more accurate explanation of the term dates back to the early 1960s, when police officers in Philadelphia began using the phrase “Black Friday” to describe the chaos that resulted when large numbers of suburban tourists came into the city to begin their holiday shopping and, in some years, attend Saturday’s annual Army-Navy football game. The huge crowds created a headache for the police, who worked longer shifts than usual as they dealt with traffic jams, accidents, shoplifting, and other issues.

    Within a few years, the term Black Friday had taken root in Philadelphia. City merchants attempted to put a prettier face on the day by calling it “Big Friday.”

    The phrase “Black Friday” to signify a positive boost in retail sales didn’t grow nationwide until the late 1980s, when merchants started to spread the red-to-black profit narrative. Black Friday was described as the day stores began to turn a profit for the year and as the biggest shopping day in the United States. In truth, most stores saw their largest sales on the Saturday before Christmas.

    In more recent years, Black Friday has been followed by other shopping holidays, including Small Business Saturday, which encourages shoppers to visit local retailers, and Cyber Monday, which promotes shopping online. Giving Tuesday has also emerged to spur charitable donations.

    Historically, Black Friday has yet another connotation, one unrelated to shopping. In 1869 Wall Street financiers Jay Gould and Jim Fisk attempted to corner the nation’s gold market at the New York Gold Exchange by buying as much of the precious metal as they could, with the intent of sending prices skyrocketing. On Friday, September 24, intervention by President Ulysses S. Grant caused their plan to fall apart. The stock market instantly plummeted, sending thousands of Americans into bankruptcy.

    स्रोत : www.britannica.com

    What's Black Friday? When It Is and Importance to Economists

    Black Friday takes place the day after Thanksgiving, is full of big discounts, and is considered the beginning of the holiday shopping season.

    BUSINESS MARKETING ESSENTIALS

    What's Black Friday? When It Is and Importance to Economists

    By ADAM HAYES Updated November 17, 2022

    Reviewed by JULIUS MANSA

    What Is Black Friday?

    Black Friday refers to the day after the U.S. Thanksgiving holiday, which has also traditionally been a holiday itself for many employees. It is typically a day full of special shopping deals and big discounts and is considered the beginning of the holiday shopping season.

    The sales made on Black Friday are often thought of as a litmus test for the overall economic condition of the country and a way for economists to measure the confidence of the average American when it comes to discretionary spending. Those who share the Keynesian assumption that spending drives economic activity view lower Black Friday sales figures as a harbinger of slower growth.

    KEY TAKEAWAYS

    Black Friday refers to the day after Thanksgiving and is symbolically seen as the start of the critical holiday shopping season.

    Stores offer big discounts on electronics, toys, and other gifts.

    Also important to retailers: Cyber Monday, the first day back to work for many consumers after the long holiday weekend, on which online retailers offer major discounts.

    Black Friday

    Understanding Black Friday

    It's common for retailers to offer special promotions online and in-store on Black Friday. Many open their doors during the pre-dawn hours on Black Friday to attract customers. To keep up with the competition, some retailers have gone so far as to keep their operations going on the Thanksgiving holiday, while others begin offering deals earlier during November.

    1

    Really avid bargain hunters have been known to camp out overnight on Thanksgiving to secure a place in line at a favorite store; the most fanatical have been known to skip Thanksgiving dinner altogether and camp out in parking lots for days or even weeks to get great deals. The promotions usually continue through Sunday, and both brick-and-mortar stores and online retailers see a spike in sales.

    1

    Black Friday also refers to a stock market catastrophe that took place on Sept. 24, 1869. On that day, after a period of rampant speculation, the price of gold plummeted, and the markets crashed.

    Black Friday and Retail Spending

    Retailers may spend an entire year planning their Black Friday sales. They use the day as an opportunity to offer rock-bottom prices on overstock inventory and to offer doorbusters and discounts on seasonal items, such as holiday decorations and typical holiday gifts.

    Retailers also offer significant discounts on big-ticket items and top-selling brands of TVs, smart devices, and other electronics, luring customers in the hope that, when inside, they will purchase higher-margin goods. The contents of Black Friday advertisements are often so highly anticipated that retailers go to great lengths to ensure they don't leak out publicly beforehand.

    Consumers often shop on Black Friday for the hottest trending items, which can lead to stampedes and violence in the absence of adequate security. For example, on Black Friday in 1983, customers engaged in scuffles, fistfights, and stampedes in stores across the U.S. to buy Cabbage Patch Kids dolls, that year's must-have toy, which was also believed to be in short supply.

    2

    Appallingly, a worker at a big store was trampled to death on Black Friday in 2008, as throngs of shoppers pushed their way into the store when the doors opened.

    3

    The Surprising Origins of Black Friday

    The concept of retailers throwing post-Turkey Day sales started long before "Black Friday" was actually coined. In an effort to kick off the holiday shopping season with a bang and attract hordes of shoppers, stores have promoted major deals the day after Thanksgiving for decades, banking on the fact that many companies and businesses gave employees that Friday off.

    4

    So why the name? Some say the day is called Black Friday as an homage to the term "black" referring to profitability, which stems from the old bookkeeping practice of recording profits in black ink and losses in red ink. The idea is retail businesses sell enough on this Friday (and the ensuing weekend) to put themselves "in the black” for the rest of the year.

    4

    However, long before it started appearing in advertisements and commercials, the term was actually coined by overworked Philadelphia police officers. In the 1950s, crowds of shoppers and visitors flooded the City of Brotherly Love the day after Thanksgiving. Not only did Philadelphia stores tout major sales and the unveiling of holiday decorations on this special day, but the city also hosted the Army-Navy football game on Saturday of the same weekend.

    4

    As a result, traffic cops were required to work 12-hour shifts to deal with the throngs of drivers and pedestrians, and they were not allowed to take the day off. Over time, the annoyed officers—using a descriptive that's no longer acceptable—started to refer to this dreaded workday as Black Friday.

    4

    The term spread to store salespeople who used "Black Friday" to describe the long lines and general chaos they had to deal with on that day. It remained Philadelphia slang for a few decades, spreading to a few nearby cities, such as Trenton, N.J.

    Finally, in the mid-1990s—celebrating the positive connotation of black ink—"Black Friday” swept the nation and started to appear in print and TV ad campaigns across the United States.

    स्रोत : www.investopedia.com

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