What is Black Friday? Like I mean, what really is black Friday to you? Today the meaning of the term ‘Black Friday’ is the day after thanksgiving. Or the day where major retail outlets all over the world experience their biggest sales of the year. Bit is this really true? Is this really what black Friday is and what it is all about? While this might be true, there actually is more to the term than just some random shops making sales. Would you care to find out more about the true origin of Black Friday? If you would love to, then you are in the right place. Continue reading to find out about that which you desire.
What Is Black Friday
What is Black Friday? While most people may know this day as the day where stores open very early and offer various sales. They also know it to be the day after thanksgiving. The true story and history of the term ‘Black Friday’ is actually darker. The term first came into being used on the 24th of September, 1869. Wow, a long time ago. This particular day was the day two investors drove the price of gold so high that it caused the crash of the stock market. The stock market on that particular day dropped 20% leading to the stoppage of foreign trade. Farmers on the other hand suffered from this move also, with them experiencing a 50% dip in the harvest value of corn and wheat.
The term ‘Black Friday’ also was used by the Philadelphia police to refer to the day between Thanksgiving and the army-navy game. Cops on that particular day had to work extra in covering and controlling crowds and the traffic. And this is due to the fact that huge crowds of shoppers and tourists entered the city. Several attempts have been made to change the name. Want to know how it went, continue reading.
Plans To Change The Name ‘Black Friday’
The term ‘Black Friday’ was too gloomy to some retailers and they went on to try to change the name. they just didn’t like the fact that such a name was used to describe one of their biggest revenue days if not the best. The first attempt was made in replacing the ‘black’ in the term to ‘big’. But as usual, the result didn’t go according to plan and the name couldn’t stick. And since the name couldn’t be changed, continued efforts to surround the name with some positives paid off.
Retailers all over the world now have little concerns about the origin of the name and therefore have taken full advantage of the global recognition of the name as a day to make significant profits. In 2018 alone, black Friday profits recorded a $6.22 billion which is up 23.6% from the previous year.
Although the name may not have the same meaning as it used to, a dark cloud still hovers over the name. well, most online retail and marketplace platforms all over the world now offer Black Friday deals to customers and users. A day where they get to access items on great discounts. Platforms and marketplaces all over the world such as Amazon, Alibaba, and Jumia and so many more all participate in this exercise.