What Black Friday Meaning, Though we’ve listen many stories, truth and even rumors about the day I.e. “The black Friday” but what’s the truth, always remains the truth.
So now we’ll come to know about the black Friday.
Black Friday is not a particular day that’s only celebrated on Friday but it’s the day that’s celebrated every year on any day but as a black Friday.
What is black Friday ?
Black Friday is an American tradition that happens just after the Thanksgiving. It is a type of festival. This is also an unofficial beginning of Christmas. It is celebrated from 19th century. Since 1932, it’s seen as the beginning of the shopping season of Christmas.
However, this was really bad when the last Thursday in November was the fifth Thursday in November. Because it became the shorter season for retailers.
Here, retailers offers a huge discounts that kick-start the Christmas shopping. It was one of the most profitable retail days of the year. Retailers now started offering deep discount. Black Friday began to take on a positive implication.
Retailers would actually sponsor parades the day after Thanksgiving. People would then shop after the parades.
In a nutshell, its a massive discount shopping day where consumers get time-limited deals in store.
It was the dag after Thanksgiving when slaves would sold by the slave traders. This was to assist plantation owners for more help by the slaves for coming winters.
According to history, Black Friday was also a day when the price of gold decreased and stock market failed down response.
Black Friday is not an official holiday, but California and some other states observe “the day after Thanksgiving” as a holiday for state government employees.
It has routinely been the busiest shopping day of the year since 2005. Due to heavy traffic and crowd it’s always a headaches for police.
There have been 11 deaths and more than 100 injuries on Black Friday since 2006.
Macy’s Thanksgiving Day Parade,Black Friday
In 1905, Eaton’s from Canadian department store began the first parade of Thanksgiving by bringing Santa through streets on a wagon.
Macy’s Department Store was inspired to launch the Thanksgiving Day parade by the Eaton’s parade. Macy’s wanted to celebrate it’s success during the roaring ‘20s.
What is the History of Black Friday ?
In 1960s this concept started in a city of USA, Philipedia. Where, just after the day of thanksgiving a huge crowd of people started visible on the roads. There started growing traffic on the main and street side roads.
So, the retailers and the shopkeepers started selling the products and other things in the low costs. And this was the reason, the started taking the things because of low costs.
From 1960-1980 those people constantly started practicing the same thing every year. And then the day got the name “Black Friday” .
From the year 1980 many other retailers from other city of USA started following this day.
Since, after 1980 when the internet revolution started many online companies started doing business.
And people started promoting black Friday in more aggressive manner just to boost the business.
However, In Muslim countries they don’t call it as a Black Friday. They’ve termed it in different manner as per their convenience such as “White Friday” or “Bless Friday”.
The reason behind not calling it as a black Friday is because Muslims celebrates Friday and they don’t think it a right thing to call this auspicious day to be termed as “black”.
What is the True story behind the “Black Friday” ?
Till now we’ve heard many stories behind the day, about how it started, what was the beginning, the trends during the time, etc. But there are also some actually stories that becomes the main part of the “Black Friday” history.
The term “black Friday” was not applied for the holiday shopping but for the financial crisis. It was specially when the U.S. gold tanked on 24 sep, 1869.
Jay Could and Jim Fisk, the two ruthless wall street financiers worked together to buy the nation’s gold as much as they could in desire to drive the price high and sell it for amazing profit. On that Friday in September, plan finally solved and they bankrupted everyone from Wall Street barons to farmers.
Black Friday Around the world
On the occasion of black Friday employers give half days to their employees as a party of Thanksgiving weekend.
This day also gives the advantage to the retailers because as they decreases the price of the products the crows starts increasing.
If we talk about the earlier celebration of black day, it includes in these countries:
- United states
- Switzerland and many other countries…
The yearly result of the day:
A Wal-Mart employee in Green Acres, long Island was trampled to death by a crowd of “ Black Friday” shoppers.
In year 2010 the retailers extended their working hour in order to continue the competition. These hours included late night working and morning early’s.
Neil Stern said, “Black Friday is quickly losing its meaning on many fronts.” This was because many stores opened on Thanksgiving. And a lot of sales started even earlier than that. This also includes online shopping because due to the increase demand in online shopping the day has lost its importance.
Retail sales impact on Black Friday
The national retail federation released the fix figure for the back day celebration. That :
- The fix number of retailers not the people
- Selected days: I.e. Thursday, Friday, Saturday and also some times Sunday.
- The date for black Friday mainly varies between November 23 to November 29.
Pros and cons of black Friday
- Big discounts and a free gift cards.
- Can save big amount on mainly electronics.
- Opportunity to clear stock.
- Lower ‘buyer discrimination’.
- The popular myth that “Black Friday” was the date that detailed nivedan from missed to profile is likely NOT TRUE.
- To deal with the huge crowds.
- Limited deals you come across.
- Results in impulse buying.
- Margin Erosion.