When Is Black Friday 2024 Date: Black Friday is associated with a shopping frenzy and deep discounts and unofficially kicks off the holiday shopping season. While these days it’s known for huge sales and crowded stores, the roots of Black Friday are a mix of myths, economic shifts, and social phenomena. This article traces how Black Friday originated, how the date is set annually, and the significant revenue it brings in both the U.S. and other countries.
Origins Details Of The Term “Black Friday”
The term “Black Friday” has a chaotic and somewhat challenging history. The earliest recorded use of the phrase was in the 19th century, but it referred to something different from what it relates to today.
Gold Panic of 1869
Originally, the term applied to September 24, 1869, when the U.S. gold market precipitated a financial panic caused by a scheme of the two notorious Wall Street financiers Jay Gould and James Fisk to corner the gold market. Their attempt to grab the gold market created a financial panic, which destroyed the economy. Rather than shopping, this Black Friday was characterized by falling stock prices and the loss of fortunes by numerous investors.
Gridlock in Philly
Most believe that “Black Friday,” as we know it, was named in Philadelphia back in the 1950s. Police called the day after Thanksgiving by that name because suburban shoppers and tourists joining the thousands of others expected in town for the annual Army-Navy football game, played each Saturday of that week, flooded the city. The teeming crowds became very difficult for the police to manage, and they started calling this day “Black Friday” because huge crowds combined with traffic jams and shoplifting increased, and it became a day of dread for the authorities.
From Negative to Positive Connotation:
Understandably, retailers did not like the negative connotations of the name “Black Friday” and tried to change it. By the 1980s, a more positive explanation surfaced. The new explanation about the name was that it was the day the business account books turned from losses (red) into profits( black). Thus, it got a new meaning and transformed into what is now called Black Friday.
Calculate the Black Friday Date
Black Friday is celebrated on the day after Thanksgiving in the United States of America – precisely the fourth Thursday of November. Because of that, Black Friday falls between November 23 and November 29, depending on the year. This year, Black Friday is on November 29, 2024.
Black Friday has inherently to do with American holidays. Since Thanksgiving ushers in the holiday, proximity to the holiday was an opportunity for retailers to attract early shoppers. This has recently spread around the world, though the date may be different in respect of the holidays and traditions of other countries.
History of Black Friday
Black Friday originated in the United States but soon became an international event. The first hallmarks were long queues, people sleeping outside all night to get the best deals, which only lasted for a few hours, namely, the early-morning doorbusters. As time passed, the event continued to spread out as retailers would open earlier and earlier, sometimes even encroaching on Thanksgiving Day itself.
Meanwhile, the growth of e-commerce is writing new chapters in the history of Black Friday. Online shopping eliminated any physical necessity for being in-store on any given day, creating “Cyber Monday” on the Monday after Black Friday as an online deals-oriented day. Nowadays, Black Friday has ceased to be confined to just that one single day. Often, it blows out into an entire week or even month of discounts.
Black Friday Sales: A Global Phenomenon
Generally speaking, the effect of Black Friday on sales is excellent, be it in the U.S. or worldwide. The day had long been considered the busiest shopping day of any given year in America, as millions troop into stores and log onto the internet in pursuit of deals.
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U.S. Sales Figures
Black Friday sales in the U.S. have consistently breached the $9 billion mark in the last years, with 2021 recording online sales only at $9.03 billion. In-store and online shopping each contribute a big part to retailers’ yearly revenues, with some accounting for as high as 20% of their total annual sales during this holiday shopping season alone.
Its International Reach
Black Friday has been replicated internationally with significant and major retail events in countries like the United Kingdom, Canada, Brazil, Germany, and Australia. The actual figures of sales vary in every country, but the fact that Black Friday has taken over the world has made it an inseparable part of the retail calendar all over the world.
E-commerce and Cyber Monday
The uprising of e-commerce has only added fuel to Black Friday. Cyber Monday, with particular emphasis on online sales, sometimes outpaces or overshadows Black Friday regarding revenues. For instance, in 2021, Cyber Monday generated $10.7 billion worth of online sales within the United States borders, topping Black Friday.
The Future of Black Friday
It has also kept evolving in accordance with the ever-reshaping retail landscape. COVID-19 accelerated this shift online, and it will be even more hybrid this year, with consumers dividing their spending between in-store and online purchases. The concept itself has extended into what is now “Black November,” with many retailers offering discounts throughout the month.
Not all is bright, however, concerning the future of Black Friday. Supply chain disruptions, inflation, and altered consumer habits could dent this traditional spree. Despite all odds, Black Friday remains one of the most critical days in the retail industry when businesses and consumers wait for the deals and discounts that mark the beginning of the holiday shopping season.
Conclusion
The transformation of Black Friday from a day of economic despair in 1869 to the shopping phenomenon it has become is fascinating. What once had a not-so-positive meaning has emerged as a retail festival, ushering in the holiday season globally. With billions of dollars in sales and a substantial impact on the world’s economy, Black Friday is still a day of excitement and controversy- a shifting terrain in consumer culture. In the future, the adaptability of Black Friday will most probably win its survival for years to come.
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