Why do we have Black Friday?
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Lucas Harris
Works at Microsoft, Lives in Seattle. Graduated with honors from Carnegie Mellon University with a degree in Computer Science.
Hello, I'm an expert in retail and consumer behavior with a focus on historical trends and cultural phenomena. Let's dive into the origins and reasons behind the tradition of Black Friday.
Black Friday is the day following Thanksgiving Day in the United States, and it has been regarded as the beginning of the Christmas shopping season since the 1950s. The term "Black Friday" is used in a couple of different contexts, and its origins are somewhat debated.
1. Accounting Origins: The term was first used in the 1960s in Philadelphia, where it described the heavy and disruptive pedestrian and vehicle traffic that would occur on the day after Thanksgiving. The chaos was in anticipation of the big Army-Navy football game held in Philadelphia. However, a more positive interpretation was given to the term by retailers, who used it to denote the shift from the red (loss) to the black (profit) on the ledger sheets, as this was traditionally the time when holiday shopping would increase and businesses would start to turn a profit for the year.
2. Retail Promotions: Over time, Black Friday became the day when retailers would heavily promote sales and offer significant discounts to kick off the holiday shopping season. This was a strategic move to encourage consumers to start their holiday shopping early and to take advantage of the deals, which would, in turn, boost sales and profits.
3. Economic Impact: The economic impact of Black Friday is significant. It not only marks the unofficial start of the holiday shopping season but also serves as a barometer for the health of the retail industry. Retailers often use this day to gauge consumer spending trends and to make strategic decisions for the remainder of the holiday season.
4. Cultural Phenomenon: Black Friday has evolved into a cultural phenomenon, with people camping out overnight to be the first in line for the best deals. It has also expanded globally, with many countries adopting the concept of a post-Thanksgiving shopping event, even if they do not celebrate Thanksgiving.
Black Friday is the day following Thanksgiving Day in the United States, and it has been regarded as the beginning of the Christmas shopping season since the 1950s. The term "Black Friday" is used in a couple of different contexts, and its origins are somewhat debated.
1. Accounting Origins: The term was first used in the 1960s in Philadelphia, where it described the heavy and disruptive pedestrian and vehicle traffic that would occur on the day after Thanksgiving. The chaos was in anticipation of the big Army-Navy football game held in Philadelphia. However, a more positive interpretation was given to the term by retailers, who used it to denote the shift from the red (loss) to the black (profit) on the ledger sheets, as this was traditionally the time when holiday shopping would increase and businesses would start to turn a profit for the year.
2. Retail Promotions: Over time, Black Friday became the day when retailers would heavily promote sales and offer significant discounts to kick off the holiday shopping season. This was a strategic move to encourage consumers to start their holiday shopping early and to take advantage of the deals, which would, in turn, boost sales and profits.
3. Economic Impact: The economic impact of Black Friday is significant. It not only marks the unofficial start of the holiday shopping season but also serves as a barometer for the health of the retail industry. Retailers often use this day to gauge consumer spending trends and to make strategic decisions for the remainder of the holiday season.
4. Cultural Phenomenon: Black Friday has evolved into a cultural phenomenon, with people camping out overnight to be the first in line for the best deals. It has also expanded globally, with many countries adopting the concept of a post-Thanksgiving shopping event, even if they do not celebrate Thanksgiving.
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Studied at the University of Vienna, Lives in Vienna, Austria.
Black Friday is a shopping day for a combination of reasons. As the first day after the last major holiday before Christmas, it marks the unofficial beginning of the Christmas shopping season. Additionally, many employers give their employees the day off as part of the Thanksgiving holiday weekend.
2023-04-15 17:55:16
Harper Roberts
QuesHub.com delivers expert answers and knowledge to you.
Black Friday is a shopping day for a combination of reasons. As the first day after the last major holiday before Christmas, it marks the unofficial beginning of the Christmas shopping season. Additionally, many employers give their employees the day off as part of the Thanksgiving holiday weekend.
