The Google Definition for Black Friday is “the Friday following Thanksgiving in the United States. It traditionally marks the start of the Christmas shopping season in the United States.” Most shoppers, however, describe it as paradise on Earth. Between the countless sales and discounts, shoppers are sucked into the marketing tactics of each store they visit. As with all holidays and festivals, Black Friday has its own pros and cons.
History of Black Friday:
According to CNN Money, the first Black Friday took place in Philadelphia in the 1950s. The name was coined by the city to represent all of the suburban shoppers that descended on Philadelphia in the days after Thanksgiving. Why were there so many people? Stores all throughout the city were pushing deals in advance of the Army-Navy game on the Saturday after Thanksgiving.
Where did Black Friday get its name?
Although "Black Friday" is now exclusively linked with Christmas shopping, it wasn't always so. According to the History Channel, the word was first created in 1869 to characterize the financial crisis that occurred after the United States' gold market fell. After stores were "in the red" for the whole year, indicating weak sales, it became associated with retail. Following the surge of consumers spending their money on reduced items, shops were "in the black" the day after Thanksgiving.
Pros of Black Friday:
There are many great bargains, several of which are nearly too good to pass up.
There is a possibility of doing some Christmas shopping. You can get inexpensive presents for everyone in your family.
Many stores are open for extended hours.
It contributes to economic growth. Furthermore, stores may get rid of surplus inventory.
Fun. It's fun to look for and compete for super-discounted things. Many people get a surge of excitement as they race to buy their favorite things at the lowest feasible price.
Black Friday shopping has evolved into a family ritual and a means to spend quality time with loved ones while scouring the internet for the best discounts.
Cons of Black Friday:
People wind up purchasing items they don't require and would not have purchased otherwise.
To be able to advertise a higher discount on Black Friday, some stores maintain prices artificially high before the holiday. Analysts have seen a price spike in the weeks leading up to Black Friday.
It's not so good for small businesses, who can't always compete with larger stores' deep discounts.
Black Friday may be aggravating and time-consuming. Long lines form to try on clothes, ask questions of salespeople, and even pay. Congestion is also becoming the norm.
Black Friday is a risky business. When striving to get the greatest bargain, people can get rather pushy. Accidents, injuries, and crashes occur at businesses every year.