All You Wanted To Know About Black Friday
“Black Friday” has come to represent as the biggest shopping day of the year. It is a day when retailers offer the maximum discounts, which draws hordes of shoppers and generates exceptional profits. The term Black Friday originated in Philadelphia in the early 1960s,the term was used initially by the Philadelphia police officers to describe the chaos and disruption caused by clogged roads, heavy pedestrian and vehicular traffic. However both the term and the tradition became so rooted in the minds of the shoppers that retailers too began accommodating them with larger discounts.
It is difficult to determine as to when the day after Thanksgiving turned into a mammoth retail shopping day, it may have started around early 19th century when stores like Macy’s and Eaton’s used to sponsor the Thanksgiving parade, and the end of the parade would signify the shopping season open. It was an implied rule among all stores that was strictly followed. So no store would offer discounts or aggressively court customers till Friday. Hence on Friday, when the gates open it was a colossal deal.
Is Black Friday Really The Biggest Shopping Day Of The Year?
Many retailers have dubbed Black Friday as the “biggest shopping day of the year”. No doubt you may have to deal with long lines, people camping outside shops, even grabbing and sometimes even a stampede like atmosphere in shopping malls, but do the volume of shoppers convert into the same volume of sales? Many studies do believe that the percentage of shoppers, and their amount they spend has steadily risen over the year. However contradicting surveys suggest the Black Friday faces very stiff competition from Cyber Monday and the Saturday before Christmas.
Some Facts About Black Friday
- About 35 million people shop on Black Friday every year.
- People are generally so desperate for the deals of Black Friday that sometimes they are willing to camp outside the retails outlets for more than a week.
- Black Friday does not necessarily have the best deals. Generally there are better deals available the week before Christmas.
- At a survey conducted on a sample of Black Friday shoppers, 57% shoppers enjoyed the experience while 43% did not.
- In 2008, Jdimytai Damour, a Walmart employee, was trampled to death when crazed shoppers pushed open the doors to get their hands on products.
- Once around 20 people were injured when a lady used pepper spray on fellow shoppers to get her hands on the latest Xbox
- Some people chose to avoid the rush, across different categories, 86% of Home Goods, 85% of Children’s toys/games, and 47% of Entertainment were ecommerce purchases in 2013 as per an AOL survey.
According to Time.com, many products sold at extremely high discounts on Black Friday are “derivative products”, it means that products look like and are even named as the standard models but are actually manufactured with cheaper components and may not essentially have the same features. Some reports have suggested that big companies like Sony and Samsung have made derivative products in previous years.
Even though the percentage of shoppers were higher on Black Friday, the amount spent on Cyber Monday was comparatively more.
So this Black Friday, Shop till you Drop, but take care, because no discount, sale or product has as much value as human life.