Black Friday is just around the corner and you know what that means. It’s time you get your stupendous deals and effective marketing campaigns ready! Ensure that your brand gets the most out of the biggest and busiest shopping day of the year!
In 2020, Black Friday will be slightly different than what we are normally used to. The ongoing coronavirus pandemic has changed the world as we know it, so it’s natural that the popular shopping day will feel the effects of it as well. We doubt that huge crowds will gather to shop on Black Friday. Which means it is going to exist primarily online because of the importance of social distancing.
What’s more, some major US retailers — including Walmart, Macy’s, and Home Depot — have decided to change their Black Friday traditions. Their special offers are going to go live a few days or weeks before November 27. And we found the reason for their decisions in a Deloitte survey. Namely, 51% of holiday shoppers feel anxious about shopping in-store because of COVID-19. 64% of their holiday budget will be spent online. Consider this and redefine Black Friday for your brand!
Here’s a quote to inspire your journey:
To take your mind off your meticulous planning for a bit, we decided to introduce you to our eight facts about Black Friday. Learn more about this unofficial holiday and prepare for the frenzy!
It’s that time of the year! For millions of people Black Friday is the day they start Christmas shopping. Some of them wake up at the crack of dawn, others don’t sleep at all in order to find massive deals and get a good discount. Businesses benefit a lot from the Black Friday craze, with some of them earning millions of dollars in revenue.
Because of the scope of this unofficial holiday, we decided to take a look at some statistics before mentioning facts about Black Friday.
Here are important Black Friday statistics for marketers:
Now, it’s time we go over our eight facts about Black Friday!
Long lines of people, midnight fights, and exclusive deals are typical images we associate with Black Friday. However, apart from great sales, we do not expect to see endless queues and arguments this holiday season. Everything will take a more calmer tone this year as people evade crowds and continue to practice social distancing.
As we wait for November 27, we thought it would be fun to get to know the story behind the popular shopping day. That’s why we are taking a look at eight facts about Black Friday to build up the excitement.
Without further ado, let’s get to know this long-awaited day!
Pretty much anyone who you ask will tell you that Black Friday is synonymous with shopping and great deals. However, the term was not always used to describe such a joyous activity. It was actually associated with various calamities throughout history, especially the stock market crashes.
Research shows that the phrase “Black Friday” was first used on September 24 1869. This was when two speculators, James Fisk and Jay Gould, tried to corner the gold market on the New York Stock Exchange. Sadly for them, the government decided to step in and flooded the market with gold. The prices went down and investors lost exorbitant sums of money.
Let’s see which other facts about Black Friday you simply must know!
Practically the whole world has heard about Macy’s Thanksgiving Day Parade. Ever since 1924, it has been part of the holiday ritual in the USA. Most Americans can’t imagine their year without this parade.
However, this event actually has roots a bit further north, in Canada. The country hosted the very first “Santa Claus Parade” back in 1905. Today, the event is still going strong, with over 500,000 people attending it every year. Santa appears at the end of the parade which marks the beginning of the holiday season.
Almost two decades later, Macy’s decided to sponsor a similar event in the USA and it quickly became a success. Held on Thanksgiving Day, it is a signal for Black Friday shoppers to get ready for the next day.
The first two facts about Black Friday show that the frenzy occurring the day after Thanksgiving has a long history. Now, we know that the term used to refer to various calamities. However, when did it start to describe Black Friday as we know it?
For this, we have to go back to the 1950s Philadelphia. Local police used the “Black Friday” term to refer to the day between Thanksgiving and the Army–Navy Game. The authorities became frustrated with traffic jams caused by shoppers who visited the city that Friday. Namely, they had to work long hours to ensure there were no incidents.
After that, there was an attempt to change the name to “Big Friday” in the 1960s. But the phrase never caught on.
There’s considerable debate about the actual meaning of the popular phrase that now marks the start of the shopping season. Some say that the “black” part of the term was taken from the idiom “be in the black,” which means “to be profitable.” However, there is no proof for this statement.
It is true, though, that retailers look forward to Black Friday because it ups their sales. In 2019, Forbes reported that shoppers spent $7.2 billion on the internet in the USA alone. Exclusive deals were probably an incentive enough for consumers to purchase goods online.
We’ve prepared more facts about Black Friday that will amaze you!
Black Friday is too huge to remain in one country only! The excitement of shopping and promises of big discounts have been enough for the world to “adopt” this day. It is no longer just an American holiday.
According to JungleScout, 50-60% of countries “celebrate” Black Friday in some form. For instance, Canadian retailers offer sales on the day even though the country has its own version of Thanksgiving a month earlier. Then, Mexico has “El Buen Fin,” meaning “The Good Weekend.”
Outside North America, most retailers rely on Cyber Monday to promote their deals for customers around the world.
Black Friday had to wait until 2001 to get crowned “the busiest shopping day of the year.” The Saturday before Christmas held the coveted first place for decades until the Black Friday sales beat it.
We’re going to wrap up our facts about Black Friday with two interesting pieces of information.
Over the years, retailers have taken Black Friday to a new extreme, looking to attract as many customers as possible and beat their competition. In 2011, numerous retailers — including Target, Macy’s, and Best Buy — opened their stores at midnight. However, Walmart took it a step further and broke the Black Friday tradition.
The retail corporation opened most of its stores at 8 p.m. on Thanksgiving Day in 2012. Ever since then, more and more companies have welcomed American shoppers as soon as they finish their Thanksgiving feast. This is known as “Gray Thursday.”
This year, though, Walmart will put its tradition on pause and close stores on Thanksgiving, explaining it wants its employees to spend the day with their loved ones.
We have to admit that 2020 has been marked with many changes due to the global pandemic. In an effort to maximize their profits and cover possible losses, many companies and department stores have started offering Black Friday deals early. So, there is some silver lining in 2020.
Google Trends shows that internet users’ interest in Black Friday began in early October of this year. This has been a common occurrence for years now. People want to know where they can buy more, save more as soon as possible!
We hope our facts about Black Friday have revealed more about this day to you. As most businesses have already launched their sales, it’s high time you do as well (if you haven’t already, of course). We wish you success this holiday season!