Black Friday 2024: Explore Its Date, History, and Significance

Black Friday is a term used to describe the Friday after Thanksgiving in the United States, which has become synonymous with significant retail sales and discounts. It marks the official start of the Christmas shopping season in the United States, with retailers offering deep discounts on a wide range of products. The sales continue to Monday (Cyber Monday) or for a week (Cyber Week).

When is Black Friday?

Black Friday always falls on the Friday after Thanksgiving Day in the United States. This year Black Friday is on 29th November 2024. It will officially mark the start of the holiday shopping season and retailers will offer heavy discounts on different products and services.

History of Black Friday

The term “Black Friday” originated in Philadelphia in the 1950s, where it was used to describe the chaotic traffic conditions and crowds that occurred on the Friday after Thanksgiving, particularly due to the Army-Navy football game held on the following Saturday. The term was initially associated with the negative connotations of traffic congestion and public disorder.

However, in the 1980s, retailers began to reframe the term “Black Friday” to signify a positive turning point in their financial year. They adopted the accounting practice of referring to profits as “black ink” and losses as “red ink.” By associating Black Friday with the transition from red to black, retailers aimed to create a more positive image for the shopping event.

Over time, the term “Black Friday” gained national recognition and became synonymous with the post-Thanksgiving shopping craze. It has since spread to other countries, although its significance and popularity may vary.

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In recent years, Black Friday has expanded beyond traditional store shopping to include online shopping. Since the Covid-19 pandemic, online shopping has gained a massive craze. Cyber Monday, the Monday after Thanksgiving, has emerged as a significant online shopping event, complementing Black Friday and further extending the holiday shopping season. Some retailers often convert this one-day sale into a week-long sale and call it “Cyber Week”.

Significance of Black Friday

Black Friday has evolved into a major shopping event, attracting millions of consumers eager to take advantage of the substantial discounts offered by retailers. It has become a cultural phenomenon, with many people planning their shopping trips well in advance and even camping out overnight in front of stores to be the first in line.

For retailers, Black Friday represents a crucial opportunity to boost their annual sales and profits. Many consumers make a substantial portion of their holiday shopping purchases on this day.

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In conclusion, Black Friday has evolved from a term associated with traffic chaos to a major retail event characterised by significant discounts and consumer enthusiasm. It has become a cultural phenomenon, marking the start of the holiday shopping season and offering both consumers and retailers a unique opportunity to capitalise on the festive spirit.