The History of Black Friday | A Journey from 1952 - 2020
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Are you excited to avail some of the biggest deals of 2020? With everything that the world went through this year, finally, it's time for some celebrations and happiness. Black Friday 2020 is going to take place on 27th of November in 2020, and the world is already making plans for it. All the brands are set to unleash some of the best deals they have to offer to their consumers. But have you ever wondered why this day is dedicated to shopping? Or why the Friday after Thanksgiving is called "Black Friday"? Well, in this blog, you are going to get all the answers to your questions about Black Friday. So hold on tight and get ready to take a trip down history lane.
Black Friday, or as consumers call it "the ultimate shopping extravaganza," is observed on the very next day of Thanksgiving and has also been termed as the beginning of the Christmas shopping season in the UK and USA. Stores open as early as midnight on Fridays and offer the best discount offer in the entire year. But isn't it strange that such a great day for both the market and the consumers is connected to a dark term "Black"? Well, as they say, everything happens for a reason, let's find out what is the reason behind this in the upcoming section.
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Why Is It Called Black Friday?
There are a lot of notions that explain the origin of the term "Black Friday" and why it is called so. The most believed and most common explanation that caught up in the market in the 1980s was that whenever there are profits or losses in the market, on record, they are depicted "in Black" and "in Red," respectively. All the profits in the book-entry are shown with the color black, and with the massive sales on Friday falling the next day of Thanksgiving, the books turn from red to black, and hence, with this positive message from the dealers, the term "Black Friday" spread like wildfire. Many marketing experts tried to convert the term from "Black Friday" to "Big Friday," but it didn't stick with a lot of people.
However, many sources confirm that this is not the true origin of Black Friday. The real explanation for the term Black Friday dates back to 1961-62 when a lot of brands and retailers decided to bring some of the best sales in the market, which caused a lot of crowds to be gathered in the market. There's already a lot of rush in the cities as a lot of people come back to town to celebrate Thanksgiving with their families. With all this going on, the police department had to work longer shifts in order to deal with these massive crowds, traffic jams, and various other cases of accidents and shoplifting. The police officers of Philadelphia started to use the term "Black Friday" in the context that they had to work a lot in that shopping season.
Another probable explanation which as no connection with sales and deals at all for this term dates back to 24th September 1869, when two of the wall street investors Jay Gould and Jim Fisk, tried to make profits by driving up the prices of gold and ended up crashing the entire marketing causing huge losses to almost everyone in the market, and that Friday was called the "Black Friday."
Well, these were some of the explanations that are circulated to justify the name of this ultimate shopping festival. The big question that still remains unanswered is how did the black Friday came into existence? If you also have a query, then you must read the next section of the blog as it answers your question of "˜HOW'?
How Did Black Friday Came into Existence?
With Thanksgiving around the corner, a lot of brands and retailers started to offer sales and discounts at their stores. The deals were so irresistible that people started calling in sick just to take the day off from their offices and go out on a shopping spree. In fact, as Thanksgiving starts the countdown for Christmas, the Friday after Thanksgiving is considered as the starting of Christmas shopping. As you might have already read in the above section, there are multiple explanations as to why it is called Black Friday; those explanations also play a crucial role in the existence of this shopping festival.
Some say that it is just a marketing strategy that is being followed by retailers to grab the attention of consumers in the festival season. The existence of Black Friday is a great asset for both the retailers and the consumers. Especially in today's date, when Black Friday has become a clubbed shopping festival with small businesses Saturday and Cyber Mondays.
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What Has Been the Impact of Black Friday | How It Affects the Pocket of a Student?
Since the day it started,Black Friday has always been one of the highest-grossing days for any market (USA and UK in particular). Everybody understands that a consumer is more likely to buy an item when it is on sale than in a fresh stock. The biggest day of sales and discounts, Black Friday, has always helped the retailers in reaching out to the masses with some of the great deals as well as it has also helped the consumers to get better offers and discounts. It's like Christmas arrived early for the market as the sales rate goes higher and higher every year. In 2019 the markets of the US experienced a massive hike of 54% in sales on Black Friday. In UK, the total spending for Black Friday was recorded to be 8.5 billion British Pounds, which was the highest in entire Europe. The early earnings of a brand can double up sometimes, even triple up, and all the credit goes to Black Friday deals.
As far as students are concerned, Black Friday is no less than a candy land for them. The entire year, students from across the world save money so that they can participate in this bonanza of deals. Everything that a student might need, from earphones to smartphones, from a handbag to wallet, and from gadgets to appliances, anything and everything is available at remarkably low prices during Black Friday. In fact, one of the biggest points of concern for students, i.e., their assignments, are also up for sale on Black Friday by various assignment writing services.
Because it is a 4-day holiday week, many students get a lot of assignments to complete from the university, which becomes a burden for them. Many students look for deals on assignments as well as there are a lot of writing services like Global Assignment Help that offer some of the finest deals on various academic papers.
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Global Assignment Help believes that every student has equal rights to enjoy the festivities, and Black Friday is a day in the year on which everything (literally everything) is on sale at unbelievable prices and looking at the need for assignment writing services; Global Assignment Help has decided to open up some of the best deals on academic papers early. This Black Friday, get ready to avail some of the finest deals on your assignments, dissertations, case studies, and much more.
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