Black Friday 2023: History, importance, facts of this annual sales day

Black Friday every year lies on a day following the festival of Thanksgiving, the traditional US holiday where people offer thanks over a delectable dinner with customary delights

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The biggest shopping day of the year marks the beginning of the Christmas shopping season in the US with many stores offering significant discounts and promotions on this day. It is viewed as one of the most active shopping days of the year in the country. 

The biggest shopping day of the year falls a day after the celebration of Thanksgiving, the traditional US occasion where people offer thanks over a heavenly feast with customary delights like roast turkey alongside other different dishes. This year, Black Friday is being celebrated today, November 24.

The term ‘Black Friday’

The term "Black Friday" initially referred to the day when retailers would move from being in the red (losing money) to being operating at a black (creating a profit). But, after some time, the day developed into a significant shopping occasion characterised by enormous crowds, long store hours, and broad promotions both offline and online.

History behind Black Friday

The Philadelphia Police are credited with providing Black Friday its current name. There are reports that Black Friday doesn't have anything to do with shopping. The Black Friday was a term given by the Philadelphia police during the 1950s to describe the chaos that happens on the day post Thanksgiving. Around then, many outsiders would visit the city for the football match-up, making a big mess and riling up the local authorities.

The term was additionally utilized at the time by some large city organisations to portray the enormous lines outside their stores and the excessive shopping. Entrepreneurs attempted to rename the day "Big Friday" in 1961. But, they were rarely effective. By 1985, the term had turned into an easily recognized name in the US. Also, after 2013, Black Friday turned out to be universally recognized.

Importance of Black Friday 

Black Friday is the yearly shopping celebration, a significant cultural and monetary event. Customers anticipate Black Friday extraordinary deals to benefit vital discounts, bringing about a flood in retail actions.

The occasion has become more commonly known all over the planet than it was in America, impacting customer behaviour and creating a feeling of rush and urgency in shopping. Black Friday doesn’t just signal the start of great shopping deals, but also the beginning of the Christmas season and the common practice of Christmas shopping.

For over 60 years, Black Friday has been one of the most active days for retail stores and holiday shoppers. However, recently the occasion has gotten bigger with early or extended Black Friday sales. Retail stores have followed up the sales with Cyber Monday and Cyber Week occasions where customers can make occasion buys solely online.

Impact of Black Friday on other countries 

The US isn't the only country that observes this day. Referring to a digital analytics and SEO marketing firm, Fox News detailed that over 10 nations observe the yearly holiday shopping occasion. The nations that celebrate the Black Friday include Canada, the UK, Sweden, Belgium, Luxembourg, the Netherlands, South Africa, Ireland, Germany, Italy, Brazil, Mexico, Australia and New Zealand.