Black Friday is the symbolically important day comes before the start of holiday events in November before Christmas just after thanksgiving. Many Companies and retailers give significant discount on the prices on products like electronics, cutlery, household items etc. The term “Black Friday” was actually associated first with the financial crisis, not with sales purchases.
History of Black Friday:
Two Wall Street financiers, Jim Fisk and Jay Gould, jointly bought a significant amount of gold from the US in hopes of raising the global price and, in turn, were able to sell it for huge profits.
On Friday, September 24, 1869, in what was called “Black Friday,” the US gold market collapsed and the shares of Fisk and Gould left the Wall Street barons bankrupt.
Only in later years did the post-Thanksgiving period become associated with the name.
When stores in the US entered their accounting statements by hand, they noted gains in black and losses in red.
It is thought that many shops were in “red” throughout the year, but they later “went into the black” the next day of Thanksgiving, when shopkeepers purchased a significant amount of discounted merchandise.
In recent years, an inaccurate rumor spread, suggesting that southern plantation owners could buy slaves at a discounted price after Thanksgiving in 1800.
Philadelphia police officers were the first to link Black Friday to the post-Thanksgiving period in the 1950s. Large crowds of tourists and shoppers arrived in the city the day after Thanksgiving for the Army-Navy football game, creating chaos, traffic jams and shoplifting opportunities.
City policemen were unable to take the day off from work and instead had to work long shifts to control the carnage, therefore using the term “Black Friday” to refer to it.
As the name spread across Philadelphia, some of the city’s merchants and promoters disliked the negative connotations and tried unsuccessfully to change it to “Big Friday”.
Black Friday later became known in print after an ad was published in The American Philatelist in 1966. In the late 1980s, the term was commonly known across the country and retailers soon linked it to their post-Thanksgiving sales.
Today, Black Friday is the biggest shopping event of the year in the USA, when many stores reduce the prices of a range of products in order to increase profits and officially start the festive season.
November sales were popular in the United States before Philadelphia police invented the term Black Friday.
Macy’s department store was the first to announce a post-Thanksgiving purchase in 1924, during their New York Thanksgiving Day parade.
Shopping Day became increasingly popular during the 1930s, although retailers suffered during the Great Depression.
President Franklin D Roosevelt decided in 1939 to move the Thanksgiving date a week earlier than usual, hoping sales would boost the U.S. economy. Some have called this “franksgiving.”
After police linked Black Friday to Philadelphia chaos, the shopping frenzy became more prevalent in the 70s and 1980s, with shops attracting huge crowds.
Today, millions of Americans visit stores and search websites to find the best deals; retailers often resume sales on the weekends and only end with online offers on Cyber Monday.
With 80 analyzes of the top 100 U.S. online retailers, Adobe Analytics found that online spending reached $ 6.2 billion on Black Friday 2018, of which $ 2 billion is generated by smart phones.
Network retail giant Amazon introduced the concept in the UK in 2010, promoting a range of discounts and offers for consumers.
In 2013, the Asda supermarket, owned by the American retailer Walmart, later held its own sale for Black Friday, which resulted in chaos as customers physically fought for TVs and devices. After that, Black Friday increased significantly throughout the UK, and more and more retailers decided to hold sales.
Despite the fact that some retailers, such as IKEA and Marks and Spencer, have chosen not to openly join the shopping craze, many retailers have increased their profits by participating.
In particular, the sales weekend generated a significant amount of online profits, largely due to the growth of the smartphone and services such as click and collects.
According to IMRG, £ 1.49 billion was spent on UK online retail sites on Black Friday 2018, while Retail Week found that 194 million visits were made to shopping pages from the UK on November 23 last year.
Hitwise also found that Amazon accounted for 26% of the entire retail industry during Black Friday and Cyber Week (Monday, November 19 to Sunday, November 25).
Along with Britain and the United States, Black Friday has appeared in other countries across the globe including Brazil, India, France, Norway, Romania and Germany.
According to the Citipost Mail, 6.4 million Canadians take Friday as a holiday and many go to the US to shop – though that has fallen in recent years due to changes in tau.
In Mexico, they called their part Black Friday “El Buen Fin”, which means “good luck” while in the United Arab Emirates, stores cut their prices on what they call the “White Friday”.
Black Friday has become an important time for many retailers as they hope that discounts will increase their profits.However, the increase in consumer demand and competition between retailers has led to a large number of visitors to online retail sites and chaos in street shopping.To help improve the online sales and delivery process, address competition and satisfy customer needs, retailers are now choosing to run the sale over an extended period of time, rather than the traditional 24 hours .In the last few years, a number of promotions and offers have begun in the days leading up to Black Friday, a move known as “Black Fiveday”.
It is known that some online retailers have even started their sales as early as the beginning of November, continuing on Black Friday weekend, and ending on Cyber Monday.Retailers are likely to continue this trend in 2019, especially as online sales were strong in the days leading up to Black Friday last year.
There are some advice to buyer in order to purchase things on this big day:
Set a budget: Getting carried away can be very easy to get carried away. Even if something is significantly discounted, it can still be out of your budget. Work out what you can afford to spend and stick to it.
Do a survey: do surveys in advance if you mean a specific purchase; be prepared to buy at the best price. Keep in mind the number you are willing to spend and compare prices online.
Consider how you pay: It may be a good idea to pay for items with a credit card, as it can give you another layer of protection if the situation goes wrong – but you should try to pay your balance in full when the payment is due. Don’t go into debt.
Know your rights: The Consumer Rights Act says that goods should be of satisfactory quality, suitable for the intended work and last for a reasonable time. This right is limited to 30 days from the date of purchase of the product.
Look for long: in the period before Christmas, many supermarkets are preparing offers in which they will offer you vouchers or bonuses for the holiday season with each purchase, which you can later use for Christmas shopping. In addition to regular points, loyalty bonuses could be offered to you if you start saving early enough.
As far, bestbuy, amazon, walmart and target have the best discount deals worldwide to attract the shoppers. These deals are not only for black Friday some of them are extended to Christmas.
Now, due to global pandemics many of the shops and malls are closed and probably will not open for black Friday as well. Due to these, there will be a huge crowd for the online companies and sellers. It can affect them financially.
Top Products to buy with Black Friday sale
As we can see black Friday is not as far from now so there are some hot sales we can expect this year are iphone 11 and we are expecting the launch of iphone 12 . So that can be a hot sale for this year, others can be its accessories.PS5 and X box series X series are also among the most sought after items.
Speaking of AirPods, Black Friday is absolute heaven for audio enthusiasts with in-ear, over-ear, and on-ear headphones all getting some of the best prices of the year. And with Sony replacing most of the best headphone guides by releasing the all-new Sony WH-1000XM4 noise-canceling headphones, many audiophiles will be hoping for some cash from that high price of $ 349 / £ 349.
Besides all the things, we should also be aware of online scams. Like the most trusted websites seems to have some wrong order or bad quality claims and complains. This complain mostly happens in a case when u order from an affiliated site not from directly the main page.
In order to avoid these, you should do a good survey and analysis to order something. If you are a good savvy you will be safe from these kinds of problems.
Aside these some companies also provide cash back or replace order options in any kind of complain. You should avoid opening the box or breaking the seal in order to have maximum chances of replacement o change of order.
In short, black Friday is the golden opportunity to buy things for you and your loved ones in low prices. So you should go for shopping or do online survey and buy expensive things in relatively low prices from usual.