What is Black Friday?
Black Friday is a major shopping event that takes place annually, typically marking the beginning of the holiday shopping season. It occurs on the Friday following Thanksgiving Day in the United States and various countries, which is celebrated on the fourth Thursday of November. Historically, Black Friday has been characterized by significant discounts and promotional sales, drawing large crowds to retail stores and generating substantial online traffic. Retailers offer substantial markdowns on a wide array of products, ranging from electronics and apparel to home goods and toys. The term "Black Friday" originated in the 1960s in Philadelphia, where it was used to describe the heavy and disruptive pedestrian and vehicular traffic that would occur on the day after Thanksgiving. Over time, it has evolved into a global phenomenon, with many retailers opening early and offering doorbuster deals to entice shoppers, leading to one of the busiest shopping days of the year.
When is Black Friday?
Black Friday is a commercial event that takes place on the day after Thanksgiving in the United States and in many other countries around the world. It is celebrated on the fourth Thursday of November. As a result, Black Friday falls on the fourth Friday of November each year. For example, if Thanksgiving is on November 25th, then Black Friday will be on November 26th. This timing positions Black Friday as the unofficial kickoff to the holiday shopping season, with many consumers taking advantage of the long weekend to start their gift purchases. The specific date changes each year but always remains consistent with the day after Thanksgiving.
Activities of Black Friday
Activities for Consumers
Shopping Activities
- Participating in Early Sales: Some consumers take advantage of pre-Black Friday sales and promotions that begin before the official day, allowing them to secure deals early and avoid crowds.
- Online Shopping: Increasingly popular, consumers shop online to avoid crowds and access exclusive online deals.
- Comparing Prices: Shoppers often research and compare prices across different retailers to ensure they get the best deals.
- Using Coupons and Promotions: Many consumers utilize coupons, promotional codes, and cashback offers to maximize savings.
Alternative Activities
- Spending Time with Family: Some families choose to enjoy leftovers together, play games, or engage in holiday traditions instead of shopping.
- Planning for Future Shopping: Some people prepare for Small Business Saturday or make plans for Giving Tuesday.
Relaxation and Leisure
- Outdoor Activities: Going for a hike or taking a leisurely walk in nature is a popular way to enjoy the day.
- Crafting and Decorating: Many people use the day to start decorating for Christmas or engage in DIY holiday crafts.
Activities for Merchants
Sales and Promotions
- Discount Offers: Retailers typically offer significant discounts on a wide range of products to attract customers.
- Doorbuster Deals: Many stores create limited-time doorbuster deals to encourage early shopping and create urgency.
- Online Exclusives: Merchants often provide exclusive online deals to boost e-commerce sales.
Marketing Strategies
- Advertising Campaigns: Retailers ramp up advertising efforts leading up to Black Friday, utilizing email marketing, social media, paid ads, and traditional media.
- Loyalty Programs: Many merchants promote loyalty programs to incentivize repeat customers and increase sales.
Customer Engagement
- In-Store Events: Some retailers host special events, such as giveaways or product demonstrations, to draw in customers.
- Enhanced Customer Service: Retailers often prepare their staff for increased foot traffic, offering better customer service to enhance the shopping experience.
Inventory Management
- Stocking Up: Merchants typically increase inventory levels in anticipation of high demand for popular items.
- Managing Supply Chains: Effective supply chain management is crucial to ensure that products are available and that shipping is efficient.
- Optimize Inventory: Assessing inventory levels and ensuring popular items are well-stocked is essential. Merchants should also identify which products to promote based on sales data and customer interest.
The History of Black Friday
Origins of the Term
The term "Black Friday" was first used in 1869 to describe a financial crisis, not a shopping event. On September 24, 1869, two Wall Street financiers, Jay Gould and Jim Fisk, conspired to corner the gold market by buying up as much as they could. When the scheme unraveled, it caused a stock market crash and bankrupted many investors.
Retail Origins
The retail origins of Black Friday date back to the 1950s in Philadelphia. Police officers used the term to describe the chaos that ensued the day after Thanksgiving when large crowds of shoppers and tourists flooded the city, causing traffic jams, accidents, and other issues.
Retailers in Philadelphia tried to put a positive spin on the term by calling it "Big Friday", but the negative connotations stuck. By the late 1980s, the phrase had spread nationwide as retailers began using it in their advertising campaigns.
Expansion and Evolution
Over the years, Black Friday has expanded from a single day to a five-day shopping weekend starting on Thanksgiving. The rise of online shopping has led to the term "Cyber Five" to describe the period from Thanksgiving to Cyber Monday.
Retailers have also started offering deals earlier and earlier, with November now being referred to as "Black November". This has led to Black Friday losing some of its sense of urgency as a one-day shopping event.
