Black Friday History
Black Friday is one of the busiest shopping days in the United States. It is marked by massive crowds and discounted prices that mean the beginning of the Christmas shopping season.
Black Friday events in the United States date back to 1932. There are two ideas as to the origin of the name Black Friday, the first one is thought to have originated in Philadelphia, where it was used to describe the burden of traffic that left black track marks on roads. The second claims that Black Friday may also have stemmed from business accounting in the 1930s. During this time, businesses noted losses using red ink and their profits in black ink. Therefore, Black Friday may have been used to imply that businesses became profitable on this day as they go from being in the red to the black. Black Friday is the fourth Friday of November or the day after Thanksgiving Day in the US.
Black Friday facts
According to IBM, for the first time in history smartphones and tablets outpaced desktop computers for generating consumer traffic to websites during Black Friday in 2015.
According to consumerreports.org, heavily discounted televisions and other electronic items sold on Black Friday can be derivative models. Derivatives are products that have been manufactured specifically for sale at events like Black Friday. These products vary in specifications, quality and have less features than standard merchandise sold all-year long.
According to Forbes, in 2020, American consumers spent a total of $10.8 billion in online sales on Black Friday.
Mall of America, located in Minneapolis, Minnesota, is the largest mall in the US with 4,870,000 square feet retail space and more than 520 stores. The mall is also home to the largest indoor amusement park in the US.
With a net worth of more than $136 billion, the six @Wal-Mart heirs own more wealth than the bottom 42% of Americans. #BlackFriday , @Walmart shouldn’t be allowed to pay workers wages so low that many qualify for Medicaid, food stamps, and government housing. #BlackFriday . - Tweets by Senator Bernie Sanders in 2015
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