What is Black Friday?
The term Black Friday refers to the Friday that follows Thanksgiving day, which typically falls between November 23 to November 29, and is regarded as one of the busiest shopping days in the US. Although it is not considered as an official holiday, a lot of people take their day off from work on this day, except for employees who work in the field of retail.
The term was invented during the 1960s in order to indicate the unofficial start of the shopping season for the Christmas holidays. During those times, the accounting records were done manually and a red ink signifies a loss, while a black one indicates profit. The â€œBlackâ€ in Black Friday is then used to denote an increase in profit.
Retailers found out that they could entice a huge number of customers by cutting off their prices. With this, Black Friday became even more popular as a shopping day compared to last minute sales during the Christmas season. Nowadays, some retail businesses begin to put their products on discount on the morning of Thanksgiving day. Additionally, some retailers even send emails to potential customers regarding special offers days before the actual Black Friday. All sorts of items are discounted during this event, but the most popular products that many people buy include electronic items and toys.
During Black Friday, a lot of retail businesses open up at around 5 in the morning or sometimes, even earlier. By the time they open up, no matter how early, there will already be big crowds of consumers eager to shop. There are different strategies employed by retailers in order to attract customers, such as loss leaders and doorbuster deals.
It is common nowadays for large retail stores to post their coupons, discount offers, and Black Friday advertisements earlier, in order to keep their customers informed and allow them to have sufficient time for planning their shopping. On the other hand, some retail companies prefer to wait until the last minute to release their Black Friday advertisements to create excitement and to make people check back for announcements about the offers.