What is the Black Friday & History of Black Friday
Many people know that after Thanksgiving is known as Black Friday but what is the real meaning behind them nobody knows, so in this article, we will cover the brief introduction of black Friday, and a look at back how black Friday began and how it’s become so popular.
Brief Introduction of Black Friday
On the Friday after Thanksgiving, crowds of shoppers rush to retail stores as soon as they open to take advantage of special Black Friday sales and discounts, which are known to be some of the best deals of the year. Most interesting thing is that this term Black Friday spread across the country through the internet.
Basically, this term black Friday main motive to get the attention of online consumer that can easily buy product or services at home with huge discount. This event is no more a one-day event. It continues for three days.
In the last few years, Black Friday Sales have started way before Friday-with some stores starting their Black Friday sales on Thanksgiving day & some even starting on Wednesday and Monday. It would not be surprising to see Black Friday sale starting on Monday on the Black Friday week. As a result, revenue-wise Black Friday is not the biggest day for stores. The biggest sales day now includes Thanksgiving day, Green Monday and Cyber Monday.
Why it is called Black Friday?
According to the Oxford English Dictionary (OED), the day after Thanksgiving has been called Black Friday since at least the early 1960s.”Many retailers report some of their highest profits on Black Friday. The black portion of the name, “Black Friday” relates to businesses recording their losses in red ink and gains in black, hence the name called Black Friday. But this can not be a single reason.
The History and Origin of Black Friday
Initially, retailers resisted the name “Black Friday” because black days of the week have historically been used to describe negative events. A few examples include:
Black Monday, Oct. 19, 1987: Largest one-day drop in stock market history, when the Dow Jones index dropped 22 percent.
Black Thursday, Oct. 24, 1929: A stock market crash that is historically considered the start of the Great Depression.
Black Friday, Sept. 24, 1869: The original Black Friday was the crash of the U.S. gold market. At the time, gold was one of the primary trade markets, with investors from all income levels — most of whom were bankrupted as a result of this historical Black Friday.
In an effort to shift away from the negative association with black days of the week, retailers created a new story for Black Friday. To create a more positive association with Black Friday, retailers used this example as the meaning behind why Black Friday is called “Black Friday.” Eventually, this meaning stuck and is more well-known among shoppers than the 1950s origin of the term.
How it’s become so popular..?
US invented Thanksgiving, but it has mostly kept that holiday to itself. The day after Thanksgiving, however, is another interesting story.
We know that Black Friday in the 1960s, retailers saw an opportunity to drive revenue by making the start of holiday shopping an official event. The name “Black Friday,” of course, came from the numbers entered on ledgers: black for-profits, red for losses. The Christmas season was often the first time all year that retailers reached profitability. On the other hand, slowly it has taken major strides to become a popular identity in the global world. Namely, countries that now covered with black Friday crowd are Europe, Asia, South America, and elsewhere.
According to news from Dispatches Europe, British shoppers alone will spend around 1.8 million pounds per minute on Black Friday, for a grand total of 10 billion pounds over 24 hours. The holiday has surpassed even Boxing Day as the most popular shopping day of the year.
No idea, how much you can spend money on this season 25th November but one thing is very crucial to deal with the best services and products, choose the right path. Meanwhile, you can save your precious time and money. Black Friday has spread across the globe. You can thank eCommerce companies like Amazon and furthers that provide the best services with a huge discount. As well as if you want to design your own business with an online presence, for this you can choose the best hosting deals like Bluehost, Hostgator, Siteground, Ipage. These all deals come with unlimited discount in this season.
Simply put, Deals are unlimited, Shops are unlimited but the choice your what you want.