Black Friday is one of the biggest shopping weekend of the entire year. It is typically the day after Thanksgiving. Its overflowing with great deals, and drives some people insane ! What most people don’t know is how Black Friday originate. Where did it come from and why?.In the business world Red means like a loss and action needs to be taken to be noticed. While Black means a gain and has positive earnings.
Thanksgiving is on the fourth Thursday of November, which is why black friday is on a friday.It is called black friday because in Philadelphia cops had become frustrated with the traffic caused by the shoppers that day. Although, it was popular in Philadelphia, the term was not official until the 1990’s
Back then, it was thought of as being the biggest shopping day of the year. However it was the Saturday before christmas that was the biggest shopping day until 2001. The National Retail Federation (NRF) found out that 174 million Americans shop either online or in stores, that’s more than half the population of the U.S.
The average American spends about $335 during the week of Black Friday. According to the NRF, 75% of that money goes towards gifts.
Cyber Monday which is the Monday of the following week of Thanksgiving is like Black Friday ,offering great deals online. Some of the highest categories that people shop from are, electronics, toys, video games, clothing and accessories, home appliances, and cameras/photography equipment. The largest percentage of shoppers were 65 years and up making 20% of people in that age range participating in Cyber Monday. 56% of those people who shop in cyber monday were male, while 44% were female. In the end Black Friday and Cyber Monday have a positive effect to the people as well as the business industry.