Black Friday has become the most important shopping day of the year for retailers. It is popular not only among consumers but also among advertisers, who are willing to pay top dollar for the privilege of running prime-time commercials on this once-a-year shopping extravaganza.
The holiday started off as a minor American ritual. Black Friday was originally known as Small Business Saturday and was established in an attempt to encourage people to shop at independent businesses instead of large chains on that day.
There are many theories about why the name changed over time, but we do know that it became more widespread after a newspaper columnist named Rick Brant created the term in response to his own failed Black Friday store expedition around 20 years ago.
What Is Black Friday?
Black Friday is the day after Thanksgiving, a holiday observed in the United States. It is a day that many people spend shopping for discounts on items.
This is one of the most popular days of the year for retailers and consumers to visit stores, because that day is considered the start of winter sales. Some retailers even offer early morning hours on this day so people can beat the crowds.
The Long Shadow of Black Friday
Many people who have been celebrating Black Friday for years may not realize that the holiday was originally intended to be a day of non-shopping.
Many gift-giving traditions, such as Christmas or Hanukkah, are held on different days than they were traditionally celebrated. Why not keep this tradition alive? So, why is Black Friday so important?
It’s a long list of reasons. The most obvious reason is that it is the biggest shopping day of the year and it creates a revenue opportunity for retailers. But there are many more reasons why retailers go all out for this day of shopping frenzy.
Retailers like WalMart are known for setting up their stores with special promotions and deals for shoppers on Black Friday.
Another key reason retailers love Black Friday is because consumers like to stay in their homes and spend time with family members rather than head out to shop over the weekend on Thanksgiving Day.
The Wal-Mart Chronicles: How Black Friday Became Big Business
One of the most significant changes to Black Friday in recent years has been the rise of multichannel marketing. Previously, retailers would have one channel to push their Black Friday sales.
Now, they are busy running social media advertisements on Facebook and Google, then they run ads on radio, television, and print media. This strategy is because it’s proven to be successful. The Wal-Mart Chronicles: How Black Friday Became Big Business
From 711 to Amazon Prime to Cyber Monday
The holiday has been slowly expanding ever since. Today, the day is known as Black Friday and it is estimated that $100 billion will be spent in the lead-up to it. As of 2017, Black Friday is the busiest shopping day in American history.
Nowadays, Black Friday has become more than just a day of shopping. It has become an opportunity for retailers to put their products on sale as early as possible in order to lure consumers back into stores every year.
Last year, Whole Foods had a Black Friday sale called “Prime Now” where customers could shop from 5 am to 10 pm at three times the normal cost. For example, Amazon Prime members were able to buy select items for $1 and take them home with them that same day.
This type of marketing strategy is one of the many reasons why Black Friday has become so popular over time. With Amazon leading the way in online retail and increasing competition from other ecommerce giants, this once small event has grown into one massive consumer day of sales.
How the Retail Industry Treats Black Friday Day After Thanksgiving
Black Friday has evolved into a celebratory tradition for many, but is not always about shopping. For retailers, it can be a costly day.
The holiday has become so popular that there are people who wait in line days in advance to be the first one into a store and other consumers who camp out overnight to secure their “doorbuster” deals on electronics or other goods before they’re sold out.
The retail industry treats Black Friday as its own day of the year and spends millions of dollars marketing this day with ads, commercials and events.
Retailers understand the importance of creating hype around this major annual event, which includes everything from promotion through social media to proper planning.
However, some retailers get carried away with Black Friday promotions and end up overworking their employees and causing post-Black Friday sales disasters like the infamous 2013 Sears fiasco when shoppers were unable to find what they wanted in stores or online.
Tips for Consumers During Black Friday Week
One of the best ways to take advantage of Black Friday is by checking out deals online before it happens. This way, you will get an idea of what retailers are offering to consumers.
It’s important to note that the deals available during Black Friday week differ from those offered on Black Friday itself. If you’re interested in shopping at a store but don’t want to brave the crowds, try visiting your store on Black Friday and purchasing items online after hours.
If you’re not able to buy everything you’ve been eyeing at that one store, it might be worth saving some money and buying another retailer’s products on Black Friday instead, as they’ll often have better deals than their competitors.
Conclusion
Black Friday has been growing in popularity for many years now — but the origins of the day are interesting. Black Friday is a day of sales and discounts that can have a devastating impact on your wallet and your time.
If you’re looking for information about the origins of Black Friday and how it became a big business, this article is for you!
FAQs
What is the history of Black Friday?
We actually don’t fully know the history of Black Friday. The name “Black Friday” has been in existence for a long time, but it is still not known exactly how it came to be. We do know that the name “Black Friday” has taken on different connotations over the years.
It is used colloquially to refer to the day after Thanksgiving in the United States, as well as to refer to the day before Christmas in Australia and New Zealand and some other countries.
At its most broad level, the name “Black Friday” refers to any one of a set of highly popular shopping days that occur right after Thanksgiving on Nov. 23 and 24, or after Christmas on Dec. 23 and 24.
However, because these dates are so popular among retailers, they have come to mean something very different than they did originally.
They have come to be seen as deeply meaningful shopping days; shopping days that feel like holidays; shopping days when shoppers experience elevated levels of energy and motivation; shopping days when shoppers are more likely to become more brand loyal; and shopping days when retailers get a large portion of their sales for the year.
What are the benefits of shopping on Black Friday?
Black Friday is the day after Thanksgiving when many retailers offer substantial sales and free shipping on their products. You can find deals on electronics, appliances, toys, and more. This is the biggest shopping day of the year and it is really worth it!
Why is Black Friday important to retailers?
There are many benefits that come with Black Friday, which has become the most important shopping day of the year for retailers. First and foremost, Black Friday is a chance for consumers to get exclusive deals on products that are often not available at other times of the year.
Additionally, this is a great opportunity for consumers to meet face-to-face with brand representatives to get personal service and assistance with their purchasing decisions.
Furthermore, Black Friday is a great way for retailers and brands to build brand awareness and get their products in front of as many new potential customers as possible. This is an event that can truly be a win-win all around!
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