Black Friday is known as the Thanksgiving day in the US. According to its history, its origin can be traced back towards a city Philadelphia. It is the busiest day in the local markets of America since 2005. On this day many people keep themselves in shopping. This day also symbolizes the starting of the festival of Christmas season.
On this day, all the shops open early with the intention of business activities which ends till the day’s end. A survey done by IBM shows that each year, a rise of 24.3 percent on the sale on this day. The occasion comes on the last Friday of every November. Some websites announce the rates up to a month before. The listings of items with the prices are normally accompanied by the pictures of as circulars.
Another theory states that the term, i.e. Black Friday, comes from an old strategy of recording business accounts. Profits are recorded in black ink while losses were in red. Many businesses, started making profits before Christmas and many of them hoped to start showing their profit on the day right after Thanksgiving Day.
What are the Major Facts?
- The day is also known as the “Santa Clause Parade Day”. Thus, celebrating that Santa is around.
- In recent years, the retailers succeed to create such situation where buyers do all their shopping on Black Friday without extending the fling for the whole weekend.
- The shopkeepers get benefit from this day as it allows to start preparation for the hectic sale on the day.
- To deal with the market competition and using the advantage of the holiday, most of the retailers start to keep their shops open from the midnight till the Friday’s night.
- The extreme price cuts are offered on many offers that attract the attention of many shopaholics and others.
- Many employees announce a day off for their employees, which in turn benefit the retailers to have increased sales.
- Retailers like Amazon and Apple have taken the hype that is associated with this Friday beyond the borders of the US into other countries and regions.
- Perhaps, the word black refers to the likelihood of the sellers earning big profits on this day as well as turning an excess amount as black.
- Black Friday usually compensates for the business lack in quarters of the year and mark the day as very important for business especially for American retailers all over the world.
- The online version is known as the “Cyber Black Friday”.
Unwanted facet of Black Friday
- Customers become increasingly impatient when they have to work long hours and get in the queue to purchase items from the stores.
- The extreme price cuts that are offered by retailers on this day has been found as the responsibility for violence since 2006.
- Aggressive behavior and the huge rush of the customers cause many undesirable incidents like the death of an employee and other disputes.
- Some trouble makers use black pepper spray while standing in the queue on the stores to gain an advantage.