How Does Black Friday Work?
On Thanksgiving, Americans filled their stomachs with turkey and all the sides. Then, they either watch hours of football or fall asleep. However, there are many that view Thanksgiving as the official start to the holiday shopping season, and they spend most of that Thursday preparing for the next big event of the month, Black Friday shopping.
What Is Black Friday?
As previously mentioned, Black Friday is the day after Thanksgiving. This is the day when almost every store in the country offers shoppers Door Buster sales that often begin before dawn. These early bird specials attract millions of shoppers to come out across the country to try and snag the best deals.
This one day only event is considered to be the largest festival of the year to bargain shoppers. Over the past few years, Black Friday sales have started before Friday, allowing some shoppers to begin getting their hands on the slashed prices on Thanksgiving night. In fact, there are some stores that begin their Black Friday sales on the Monday before Thanksgiving.
As a result, Black Friday is no longer the most profitable day for stores. They see an increase in their revenue beginning the week of Thanksgiving, and extending into the next week on Cyber Monday.
Where Does Black Friday Get Its Name?
There are many theories surrounding the name of this day of shopping. However, there is a consensus that the name derived from the fact that many retailers used to report their highest profits on this day. In the world of business, when a company loses money, it is said to be in the ‘red’. When the business has profit, it is said to be in the ‘black’.
Black Friday actually began to gain ground on the Internet. Websites like ‘Deals of America’ began to highlight exclusive deals the Friday after Thanksgiving and called the sales Black Friday sales. The retail industry quickly got on board. So, the term was coined online. Before that, retailers and consumers simply referred to the day of sales as ‘The Day after Thanksgiving Sales’.
When Are Sales Advertised?
The majority of sale ads are found in the Thanksgiving Day newspaper. Over the past couple of years, some stores have started to leak ads near the beginning of November, and some begin leaking ads in October. Then, there are some stores that reveal special discount sales on their websites or to their mailing list.
Black Friday is an exciting time as it unofficially signals the start of the holiday season. Consumers prepare weeks and months ahead of time in order to get the best deals from their favorite retailers.