Five Facts Of Black Friday

23/11/2018

Black Friday takes place the day after Thanksgiving in the United States, but has become popular around the world. Black Friday consists of retailers across multiple industries dropping their prices for consumers to purchase goods at a lower price. Despite its global appeal, not many people know much about this discount day. Here are some interesting facts about Black Friday:


1. In some States, Black Friday is recognised as a holiday

Thanksgiving always takes place on a Thursday in November and is a bank holiday in America. The next day, Americans go back to work on Friday, only to have the day off again on Saturday. Overtime, most people found this tedious and decided to book Friday off as annual leave to have a long Thanksgiving weekend. As a result, some States have recognised Black Friday as a holiday and give their staff Friday off from work.


2. It’s not the busiest shopping day of the year

Yes, despite the videos of old ladies having a tug of war over a flat screen TV and shop assistants hiding behind tills, Black Friday actually pales in compassion to the real busiest shopping day in the year, which is the Saturday before Christmas day. Retailers stand to make millions on this Saturday, as panicked people dash to grab the last toaster and PlayStation.


3. The best deals are not always on Black Friday

Although it varies from industry to industry, research has shown that the best deals are not always on Black Friday. Some reports have shown that Easter weekend, and even the start of November can yield the best results for consumers, in terms of deals. Due to these findings, retailers have made a conscious effort to make their Black Friday deals better than the deals that they provide throughout the year.


4. Grey Thursday is slowly becoming popular

In 2011, American retailer Walmart (who owns Asda), broke away from tradition and decided to open their stores and host Black Friday in the late evening of Thanksgiving. This was a bold move, as most people would be spending Thanksgiving with their family and might not want to shop. However the move paid off and was a successful shopping day for the retailer. Other companies in America have decided to follow suit, which means Grey Thursday could eventually become the industry norm.


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