What is Black Friday?
Black Friday is a colloquial name for the Friday that follows every Thanksgiving Day celebrated on November’s fourth Thursday in the United States.
Why do they call it Black Friday?
Though Thanksgiving day was declared by Abraham Lincoln, the term Black Friday is traced back to the 1950s Philadelphia Police term for the day after thanksgiving due to the heavy vehicular traffic and chaos of shopping by huge number of people that forces the cops to work all day to maintain order.
However, the word also suits the manner the huge retail profit recorded on that day due to the large crowd of shoppers. It is recorded in the accounting ledger in black unlike loss which is written in red.
Why is Black Friday so important?
It’s historical context of surge in traffic on every Black Friday is still important too because of the huge number of shopping that is still recorded on the day till now.
Also, unlike in the 1950s, now huge traffic of that day has extended online on every Black Friday as most ecommerce websites use that day to receive huge sale orders and record huge profit on that day.
The sales recorded on that day, mostly from huge discounts, give insights to consumer spending habits and the health of the economy; high orders for specific product or service may give you emerging trend in that economic growth in that sector, for example surge in smart phone orders were signs of growing internet data consumption, while drop in orders for some class of goods and services may suggest weak disposable incomes by the citizens.
Is Black Friday dangerous?
There are account of death recorded as a result of the rowdiness on Black Fridays.
The huge shopping on the day have led to fights, riots and subseqent stampede seen on the day resulting in injuries and destruction of lives and properties.
Why is Black Friday cheap?
As most businesses record huge sales and profit on that day, they offer people discounts on goods and services to encourage more people to shop specifically on that day.
Are things really cheaper on Black Friday?
Yes. Businesses use that day to clear there inventories of old stocks at a discount.
Some of the old stocks can be soon to expire products for sale to users that need to consume them before their expiry dates while in some cases the old stocks are products no longer enjoying patronage from buyers because of change in trend.
Why is Black Friday so crazy?
It is because of the high number of shopping on that single day and the huge “unbelievable ” discounts on offer that day alone.
The frenzy of missing on Black Friday sales drives shoppers to compete vigorously for products with huge discount on the day as retailers give huge promotion to items with high demand.
Is Black Friday Cancelled 2020?
No. Despite the concern of how lockdown due to the pandemic covid-19 in some countries will affect the foot traffic of offline in-person sales, Black Friday sales will still take place this year.
What is left on everyone’s mind is if most ecommerce websites will be able to cope with the likely surge in online orders.
Some physical stores will face extra difficulty enforcing the covid-19 prevention protocols and this year’s Black Friday has the potential to be the most chaotic!
How do stores benefit from Black Friday?
Both offline and online stores are already advertising huge discounts through ads and promotions in expectation of massive patronage from shoppers.
For some retailers, sales on that day is responsible for as much as 25% or more of their annual sales so the stores with both online and offline infrastructures stand to reap massively from this year’s Black Friday sales.
Where can I shop on Black Friday?
Black Friday sales is now a global event and there are now big online retail stores that will take your orders and deliver at your location anywhere in the world.
Where ever you are, you can take advantage of Black Friday sales discounts on Aliexpress.
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