The term ‘Black Friday’ came into existence mainly during the last century. ‘Black Friday’ is primarily celebrated the next day after ‘Thanksgiving, one of the most popular days for Christians worldwide, especially in the western world.
In the United States of America, ‘Black Friday’ is often seen as the day when either a business will get the chance to boost its sales and become a profitable company, or it will go bankrupt and go ‘in the black.’
But, one of the most exciting things regarding ‘Black Friday’ is that, unlike other widely celebrated festive days, the meaning of ‘Black Friday’ varies from place to place.
What Happens On ‘Black Friday’?
Despite its varying meaning and origin, ‘Black Friday’ is the day when most shopping chains lower their price of goods and services to an extreme level. Most goods can be found at a meager price alongside heavy discounts.
It is also considered one of the busiest days for shoppers as the prices are dropped, and discounts are levied to an extreme level only for that day.‘Black Friday’ is also the day when most shopping chains start to experience an exponential boost in their sale rates.
Profit growth is directly due to discounted goods and services sold. Today, many customers who were once loyal to any single brand start to try other newer brands and change their preferences. In contrast, others try to stick to their original brand.
When Is ‘Black Friday’ Celebrated?
As per the traditions, ‘Black Friday’ is celebrated on the day after ‘Thanksgiving’ to promote selling goods and services in the market and try to boost businesses. Since ‘Black Friday’ is celebrated after ‘Thanksgiving,’
It usually takes place during November of each year, alongside slight variations in timing. ‘Black Friday’ is often referred to as the first day, which marks the beginning of the holiday shopping season.
As a result, with the start of ‘Black Friday,’ customers can expect significant discounts to be levied on most goods for the whole season.
What Is The Other Meaning Of ‘Black Friday’?
The term ‘Black Friday’ also has another meaning and historical significance. It is also used to refer to the financial panic and economic stress which took place in the year 1869 which took place after the collapse of the US Gold Market.
The term ‘Black’ is often used to describe these dark times in history. Since the sudden collapse of the market took place on the Friday 24th of September in 1869, it is commonly termed ‘Black Friday.’
During the late 1860s, two famous and notorious Wall Street financiers, Jay Gould and Jim Fisk planned to deliberately inflate and increase the cost of gold in the market to bring in more profit and boost the demand for gold gold-related products in the market.
As a result, they tried to buy most of the US Gold supply and store their gold privately to cause supply shortages and increase the price. But unfortunately, they were caught by the federal government, which immediately seized their massive gold storage.
The event took place under the presidency of Ulysses S. Grant, and he termed this day as ‘Black Friday’ as after they seized the massive amount of gold, the market price for it fell immediately, and the US gold market collapsed, causing many to lose trust in gold itself.
What Are The Other Holiday Season Events?
The ‘Holiday Season’ is an unofficial time when most employees get long holidays for different festivals. It is also synonymous with starting several sales across the market, where goods and services are sold at a meager price with high discounts.
Since ‘Black Friday’ is celebrated after Thanksgiving. Black Friday marks the beginning of this season. Still, it is not the only event associated with the massive ‘Holiday Season.’ Following black Friday, there is ‘Small Business Saturday.
When most small businesses across the country start to see an increase in sales. One of the most recent additions to the holiday season is Cyber Monday. when huge discounts are levied on technology products.
Black Friday: Does Online Shopping Offer Discounts?
Since the business avails discounts. As a result, it is also present on most online shopping platforms, which also see a massive boost in their sales of several products during the holiday season.
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