Known as the biggest shopping day of the year in the U.S. for almost two decades, Black Friday, the day after Thanksgiving, is almost here. But the term “Black Friday” didn’t always stand for consumption and prosperity. Following, we’ll describe how the day got its name, and then share some Black Friday surprises prepared just for you.
The term “Black Friday” was used for the first time in September, 1869, when the U.S. stock market crashed after two speculators, Jay Gould and James Fisk, tried to corner the gold market on the New York Stock Exchange. The following day, Friday, their conspiracy fell apart and the stock market crashed, leaving many people bankrupt.
Later, holiday parades like the Macy’s Thanksgiving Day Parade were popular and served as the signal that the holiday shopping season had begun. The phrase Black Friday became popularly used across the U.S. only in the mid-1990s, and it wasn’t until the 2000s that this day became known as the biggest shopping day of the year. Before that, people traditionally left holiday shopping until the last moment.
When it comes to its name, some say that Black Friday describes the fact that the retailers’ profits went down on that day. Others attribute the name to the complaints of Philadelphia police, who were frustrated with the traffic jams and smog caused by the mass of shoppers flocking to stores the day after Thanksgiving.
Today, Black Friday causes mayhem at an international level and has become almost as famous as Christmas Day. In the U.S., more than 30% of the population shops on Black Friday, and the average shopper spends almost $300, according to a survey conducted by the National Retail Federation in 2016.
The same survey revealed that 53.8% of 18- to 24-year-olds and 62.1% of 24- to 35-year-olds shop on this day, showing that the biggest Black Friday shoppers are the millennials.
More recent research completed by the National Retail Federation showed that during 2017, $700m was spent online in the U.S. around Black Friday, exceeding their predictions and showing a probable trend for 2018.
As Black Friday 2018 approaches, we are excited to see the numbers for this year. Do you have your shopping lists ready?
With the biggest shopping season upon us, between now and January 31st, 2019 we are hosting the “Affiliate Sales Wars”. An impressive $6,000 is up for grabs! Are you ready for the battle for victory?
Here are some of the promos that our best-selling vendors have prepared:
May the Sales Force be with You!