1. Origin and History:
· The term "Black Friday" is believed to have originated in the 1960s in Philadelphia, where it was used to describe the heavy and disruptive pedestrian and vehicle traffic that occurred on the day after Thanksgiving.
· The use of "black" referred to the idea that businesses would go from being "in the red" (in debt) to "in the black" (profitable) due to the surge in sales during this time.
2. Date and Timing:
· Black Friday always falls on the day after Thanksgiving, which is a national holiday in the United States. This places it on the fourth Friday of November.
· It is followed by Cyber Monday, a popular online shopping day that occurs on the Monday immediately after Thanksgiving weekend.
3. In-Store Shopping:
· Traditionally, Black Friday has been associated with in-store shopping, with retailers opening their doors early, sometimes as early as midnight, and offering deep discounts on a wide range of products.
· The event often involves long lines, crowded stores, and a competitive atmosphere as shoppers seek the best deals.
4. Doorbusters and Special Sales:
· Retailers often offer "doorbuster" deals, which are limited-time, deeply discounted items available in limited quantities to attract shoppers into stores.
· Special sales, discounts, and promotions are prevalent across various product categories, including electronics, clothing, appliances, toys, and more.
5. Online Shopping:
· In recent years, the growth of e-commerce has led to an expansion of Black Friday to the online space, with many retailers offering their deals on their websites and mobile apps.
· Online shopping on Black Friday, sometimes referred to as "Cyber Friday," allows shoppers to access deals without leaving their homes.
6. Extended Hours:
· Many retailers extend their operating hours on Black Friday, staying open late into the evening or even opening on Thanksgiving Day itself to accommodate early shoppers.
7. Globalization:
· While Black Friday originated in the United States, it has spread to other countries and regions around the world, with retailers in many countries adopting the tradition of offering discounts and promotions on this day.
8. Safety Concerns:
· The rush and crowds associated with in-store Black Friday shopping have led to safety concerns, including incidents of overcrowding and even injuries. Retailers and law enforcement agencies have taken steps to address these issues.
9. Impact on Retailers:
· Black Friday is a critical day for retailers, often representing a significant portion of their annual sales. It can make or break a retailer's profitability for the year.
10. Evolution of Shopping Behavior:
· In recent years, shopping behavior has evolved, with consumers increasingly turning to online and mobile shopping to take advantage of Black Friday deals. This shift has prompted retailers to offer online sales and promotions.
While Black Friday is known for its shopping frenzy and deals, it has also become a cultural phenomenon and a day when people come together to kick off the holiday shopping season. It has a significant impact on the retail industry and continues to evolve as consumer shopping habits change.
