How does Black Friday become the world’s leading shopping festival?

How does Black Friday become the world’s leading shopping festival?

Black Friday – the world’s leading shopping day with a variety of special offers coming up. Not only is the busiest time of the year for brands, but Black Friday is also the time when consumers spend the most. So do you ever wonder how Black Friday has become the world’s leading shopping festival? Follow NhuongBlog to read through the article below.

Black Friday Sale

Deloitte expects sales in the US from November to January 2016 to rise 5.6% to more than $ 1.1 trillion, the best sign in recent years.

Originating on Black Friday

Black Friday is the unofficial name for the day after Thanksgiving in the United States, the last Thursday of November, and is considered the beginning of the Christmas shopping season since 1952. This has only become popular after the 1980s, although it has had a long and varied history.

In the 1950s, some managers used this term to describe the simultaneous staffing of sick days on the day after Thanksgiving for a weekend break. Others say that “Black Friday” was popular in the 1960s when the Philadelphia Police Department described an extremely chaotic traffic situation every year on this day. A more common idea is that Black Friday refers to the fact that stores turn from red (hole) to black (interest) because of increased demand.

The retail industry takes over

By the 1990s, the Black Friday event was growing on a larger scale as the demand for large holiday items rose sharply. By promoting a discount program and prolonging its operating hours, retail chains encourage Americans to spend bonuses from the company.

Prior to e-commerce, big companies like Macy’s, Best Buy and Walmart were like the first post-Thanksgiving hunting ground. Many new phrases, such as shock sale, the discount promotion came out, all just to attract customers to buy.

Black Friday Sale

San Buenaventura shopping center in Los Angeles on November 29, 1996 (left); Brea shopping center in Los Angeles on November 29, 1996 (right); Buyers queue in the early morning to shop (under) Photo: Getty Images

Buy, buy and buy

By the year 2000, the phrase “Black Friday” was ingrained in the subconscious American people and became an indispensable event for this occasion. Many people even give up shopping for a whole year just to spend on a dark Friday. This sometimes leads to tragedy. A Walmart employee in Long Island, New York, died in 2008 when a buyer broke through the door and knocked him down.

The fever even spread outside the United States, to two neighboring countries: Canada, Mexico, and even the United Kingdom, where the Asda chain of Walmart applied the event. As a result, the first time Britons politely dropped out to compete for a discounted fridge. Many countries around the world are also catching up on the trend.

Black Friday Sale

Cluttered at an Asda store in London (England) on Friday Black 2014 (bottom, left); buyers rushed at a shopping center in Boise, Idaho, in 2007 (on, right); Buyers see the list at the KB Toys Store in Pennsylvania in 2007 (top, left and bottom, right). Photo: Getty Images.

E-commerce time

At the end of the decade, the Great Depression, along with the birth of Cyber Monday (the first Monday after Thanksgiving), left the traditional retail industry losing momentum. With the popularity of smartphones and the rise of the internet, e-commerce is gradually playing a major role in the shopping event, with sales continuing throughout the weekend. Consumers also have the habit of sitting home “hunt” goods for comfort. Scene pushed, pushed in the store also less.

Black Friday Sale

A Target Shop in Spotsylvania, Virginia, November 24, 2007 (left); a Target store in Dallas the same day 10 years later (right); Websites showing “Second Electronics” promotion from 2010 to 2017 (middle). Photo: Bloomberg, Getty Images.

Black Friday now

The Black Friday shopping spree is kicking off the week before Thanksgiving in the context of competing for market share. This year, Walmart and Best Buy introduced deals beginning in November for products such as smart TVs, laptops, and video players, while Target provided a free two-day shipping service. All tried to get a share of $ 100 billion in sales from companies that went bankrupt, such as Toys “R” Us.

Black Friday Sale

Buyers queue on “Black Friday” at Target Dallas, Texas, on November 24, 2007 (right); Invented at the Amazon store in Kenosha, Wisconsin (left); Amazon’s warehouse in Phoenix before “Monday Electronics”, December 1, 2013 (background). Photo: Bloomberg

Conclude

Black Friday and forthcoming Cyber Monday are predicted to be a time of boom for business revenue, so the brand should not be subjective on these special occasions. In spite of the digital age and e-commerce thriving, however, traditional black Friday still holds its place in the hearts of consumers. Therefore, enterprises should have appropriate measures to attract and treat customers accordingly to ensure the interests of consumers and the interests of the brand.

The above is an article by my research and synthesis from many sources, how do you understand about “Black Friday”? Please leave a comment below or subscribe email to receive the latest articles for free.

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