Posted by Amitabh Shukla on November 15, 2012 in Business
Black Friday is the day after the Thanksgiving day in the United States. Historically, the origin of the name can be traced back to the city of Philadelphia.It has been the busiest day in the American local markets since 2005 as many people indulge themselves in shopping. The day also marks the starting of the festive mood of the Christmas season.
The shops open at early hours owing to the intense business activities which last all along this day. Last year, a survey conducted by IBM found that there was a rise of 24.3 percent in sales on this Friday. This year the occasion is coming on November 23.
Facts on Black Friday
- The day is also referred as the Santa Claus parade day celebrating the idea that Santa is around us
- In the recent years, the retailers have succeeded in creating a situation where the customers are doing all their shopping on this single day without extending the spree for the entire weekend
- This is beneficial to the shopkeepers as it allows them to start preparing for the hectic sales on this day in the prior
- In order to deal with the competition and make the best use of the holiday, many small and big retailers have started to keep their shop open right from the midnight hours from last year
- The excessive price cuts offered on several offers on this day attract the attention of shopaholics and others alike
- Many employers give a day off to their employees on this day which in turn increase the possibility of the sales
- Retailers like Apple and Amazon have successfully taken the hype associated with this day beyond the borders of the United States into other countries
- The word black in the term perhaps refers to the possibility of the retailers earning huge profits on this day and turning the excess amount as black
- The day indeed compensates for the lack of business in other quarters of the year and marks a very important day of business for the American retailers all over the country
- Online version of this day is known as the Cyber Black Friday
Undesirable Facets of this Friday
- The excessive price cut offered by the retailers to the customers on this day has been found to cause violence every year since 2006
- Customers are becoming increasingly impatient while waiting for long hours and get their turn to buy items from retail stores on this day
- Huge rush and aggressive behaviors from hostile people have caused undesirable incidences like the death of a Walmart employee by trampling and loss of job of another employee
- Troublemakers are resorting to the use of black pepper spray on people standing in line before the retail stores to gain undue advantage
Conclusion: Much to the relief of the common public, Walmart and other big retailers started their black Friday holiday sales a day before it from last year. This year, they have decided to open the shops from 8 p.m. on Thursday, November 22.