This article discusses in full the topic “What is Black Friday?”. In short, Black Friday is a celebration of the annual shopping event in America with special promos and crazy discounts.
What will you learn about Black Friday?
First, the origin of the Black Friday event. Second, the reason why Black Friday is so popular. Third, various countries follow the Black Friday celebration. Fourth, an exciting Black Friday promo for bloggers and internet marketers. Finally, Black Friday in Indonesia. So, for those of you who are very curious about Black Friday, you will learn a lot. Because here, I will reveal various confidential information about Black Friday. Curious? Come on, read until the discussion is complete. Let’s dive in!
What is Black Friday?
In America, on the Friday after Thanksgiving, millions of people are shopping. Whether shopping for Christmas preparations, shopping for fun, or shopping for bargain hunting.
Why should shopping be on the Friday after Thanksgiving? Because on that day there is an annual American tradition known as Black Friday (Black Friday). Many people know Black Friday as a big discount day in America.
Where, on Black Friday many online and offline stores open early and offer cheap sales. There are lots of attractive promos and discounts that are packed like crazy. Many shops suddenly become “in the black” or very profitable on that day.
Note: Black Friday is the largest shopping and selling day in the United States since 2005. Even though Black Friday is not an official holiday, retailers, manufacturers, and consumers are enthusiastic about the annual shopping day.
You may ask:
Where did the Black Friday tradition come from? Why does such a huge tradition have such a strange name? Which countries have Black Friday celebrations? Calm down, don’t bombard me with so many questions at once. Haha. In the next chapter, I will immediately answer the questions one by one to the end. Come on, continue reading.
History of the emergence of Black Friday
Especially for you, I’ve done some research on the history of Black Friday. Indeed, until now there is no certainty of the origin of the term Black Friday. However, after researching from several reliable sources, I found a plausible history of celebrating Black Friday. Curious? Come on, continue reading.
The term Black Friday first appeared in the Philadelphia Inquirer newspaper in 1981. Historically, in 1981, financial accountants always wrote financial statements using pen and paper. A pen with special red ink to write a loss balance sheet. And a pen with black ink to write down profitable finances.
According to the Philadelphia Inquirer, Black Friday is the day retailers in America move out of the loss zone (red) to the profit zone (black). Where the retailer’s financial statements will change from red to black. So, red ink means loss and black ink means profit. As simple as that! All of the profit was due to a sudden increase in sales as we entered the holiday season.
Believe it or not, the American belief is vacation = shopping. Black Friday is the start of the holiday season. That way, the American people are ready to spend massively. If you could become a retailer in America, Black Friday would be an integral day in your marketing calendar. Because on Black Friday celebrations, retailers will harvest money.
Black Friday offline retailer stores move to online stores (e-commerce)
Since the internet and online stores have sprung up in America, the Black Friday passion has carried over. Recorded in the history of the American economy, Black Friday can increase sales in e-commerce. In 2016, for the first time, sales in online stores during Black Friday celebrations exceeded retail sales in offline stores.
So that you understand better, I will show you sales statistics during Black Friday.
- Last year, 174 million Americans went shopping on Black Friday. The number of buyers is very large. Nearly half the American population.
- There were 25 million transactions online during Black Friday. Precisely on a few days after Thanksgiving until the following Monday (Cyber Monday).
- The average American spends on Black Friday is $450. Where Americans spend $341 on gifts.
- Based on data from the Fed, since Black Friday 2017, the millennial generation has become the biggest consumer on Black Friday. Consumers aged 25-35 dominate Black Friday.
- 58% of shoppers shop online during the Black Friday event. And the remaining 42%, prefer to shop directly in retailer stores. The risk of shopping at retail stores is that you have to be willing to queue and jostle. Because many people are hunting for promos and cheap items at the event.
Note: For consumers who don’t want to be jostled, they tend to shop online during Black Friday. However, if you have high guts and like to jostle, you will definitely like shopping in person. Interested, please see this Black Friday video.
The Most Popular Products During Black Friday Celebration
I’ve done some research on the sales of several retailers’ products during Black Friday. The data I get is as follows:
- 27% of consumers shop for electronics on Black Friday. For example Laptops, tablets, PCs and TVs.
- 24% of consumers are hunting for promos from branded clothes and fashion items.
- 15% of consumers are pursuing smart-home gadget product offerings.
- 11% of consumers are looking for cheap-quality products that can be used as Christmas gifts.
- The rest, consumers hunt for travel and lodging promos/discounts.
You might ask, how cheap are the items at the Black Friday event? Very cheap. Discounts start from 49%-99% of the normal price. However, these crazy discounts are only in limited quantities. And sold with flash-sale models.
I have also participated in the Black Friday event, at the end of the article, I will share my experience. I swear the price is cheap! Make, err with the contents of the wallet.
Countries That Participate in Celebrating the Black Friday Event
Like it or not, the Black Friday event in the United States attracts a lot of attention from the entire American community. For example Canada, every year, just before Black Friday, many Canadians migrate to the United States just to shop. Wow, very enthusiastic.
As a result, many Canadian businesses hate Black Friday. Because money from their consumers has flowed into the United States. Finally, Canadian businessmen made their own Black Friday deals to prevent Canadians from being smitten with spending money in the USA. Since then, the Black Friday tradition began to spread to various countries.
Currently, 29 countries are celebrating their version of Black Friday.
- The United States.
- The United Kingdom.
- New Zealand.
- Costa Rica.
- South Africa.
- The Netherlands.
Note: Some countries may have different names for the celebration of Black Friday. However, if every country that participates in celebrating Black Friday, always follows the same calendar.
5 Reasons Why Black Friday is Popular
There are several reasons why Black Friday can become as popular as it is today:
- Manufacturers, Retailers, and Stakeholders Campaign for Events Massively
Reporting to Wikipedia, Black Friday has generated sales worth $ 58.3 billion in America. Wow, that’s fantastic, isn’t it? There are four profitable components to the event:
- First, factories or producers of goods can sell in very large quantities.
- Second, retailers earn huge profits.
- Third, the government can collect more taxes.
- Lastly, buyers get products at relatively low prices.
Because all elements feel profitable, then all participate in the Black Friday campaign. Eventually, this annual shopping celebration became very popular in America and even around the world.
There are many product offerings at very low prices
Since Black Friday has become an annual tradition, many shoppers are already preparing large sums of money. Well, this is where the business people in action. By utilizing the science of marketing psychology, business people create promos, discounts, flash-sales to tempting doorbusters.
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How not to make a mistake! Haha. The price is very cheap! Promos and discounts are very tempting. It’s a loss if you don’t have money in your pocket on Black Friday. Haha.
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Black Friday Has Become an Annual Shopping Celebration Tradition Inherent in the Community
Since 2005, Black Friday has recorded many achievements. And finally, boom! This annual shopping event generates up to $58 billion in transactions in just a few days. Would you like to learn more about the achievements of Black Friday in America? For more details,
Repeated behavior will become a habit. People’s habits at a certain time and repeatedly will become a tradition. Well, Black Friday has passed it all. And this celebration is deeply embedded in people’s day. That way, every Black Friday event is always lively, crowded, and festive.
The Annual Shopping Celebration is Very Profitable for Merchants and Buyers
Win-win solutions in trade will make the bond between the seller and the buyer closer. And it happened on Black Friday too.
Merchants profit greatly because they can sell a lot of goods in a relatively short time. Buyers make big profits because they can get branded products at low prices. And consumers are also very happy to have fun social activities (holiday shopping). Due to win-win solutions, sellers and buyers share positive results with many people. Finally, Black Friday is getting more and more popular from year to year.
Black Friday has become a viral social activity on the Internet
Humans have the instinct to love shopping, love to hunt for good products, and love to show off. Therefore, during the special Black Friday moment, many people tell about the excitement of their shopping activities. As a result, Black Friday is increasingly viral and viral in the real world and in cyberspace.
Black Friday is America’s national shopping day with insane discounts. To make it easy, I’ll just shorten it to a discount day. Black from the word Black Friday comes from a financial term in 1981. Where black is an idiom to describe the condition of profit from the balance sheet. So, on Black Friday celebrations all traders make big profits or harvest money.
Black Friday event falls on the day after Thanksgiving in America. Black Friday celebrations do not always fall on a fixed date every year. If Thanksgiving is celebrated every fourth Thursday in November, well, this Black Friday is the next day, which is Friday. So, this celebration must follow Thanksgiving.
For this year, Black Friday falls on Friday, November 27, 2020. Prepare your money, find the product you want to buy, and let’s go shopping. Finally, did you have any interesting experiences during Black Friday? If so, share your experience in the comments column now.