How Black Friday Became The Biggest Shopping Day of The Year

Half Price 50%ff How BLACK FRIDAY BECAME THE BIGGEST SHOPPING DAY of The Year BLACK FRIDAY IS JUST AROUND THE CORNER AND FOR MANY BUSINESSES, IT'S THE BIGGEST DAY OF THE ENTIRE YEAR IN TERMS OF SALES 50%off AND PROFIT. But you might be wondering how we got to where we are today. How did Black Friday and the entire holiday shopping season become so popular for people in the U.S. and around the world? ORIGIN THERE ARE MANY CLAIMS THAT EXIST ABOUT HOW BLACK FRIDAY TRULY CAME TO BE, BUT HERE'S THE TRUTH: Sale! November AFTER thanksgiving SHOP In the 19th century and up until the late 1930s, most retailers followed an unwritten rule that HOLIDAY SHOPPING SEASON DIDN'T START UNTIL AFTER THANKSGIVING. Up until 1939, Thanksgiving was celebrated on the LAST THURSDAY IN NOVEMBER, SECOND-TO-LAST Thursday BLACK I Frida In 1939, President Franklin D. Roosevelt declared the date of Thanksgiving to be Thursday, Noember 23, THE SECOND-TO-LAST THURSDAY OF THE MONTH. This was due in part to concerns from retailers that Thanksgiving fell too late in the year and didn't give them enough time to market to and sell to consumers. Some people believe the term "Black Friday" was created by retailers as a MARKETING GIMMICK. BLACK FRIDAY!! BLACK FRITMAY Sale! According to researchers however, the name "Black Friday" dates back to Philadelphia in the mid-196Os. It was used by police officers to describe the HEAVY TRAFFIC FROM CARS AND PEOPLE that would often occur on the Before long, it was used by people, day after Thanksgiving. the media, and retailers all around the U.S. to officially mark the START OF THE HOLIDAY SHOPPING SEASON. WHY IT BECAME SO POPULAR? BUY 2 GET 1 70% OFF FREE SHIPPING! HALF PRICE Retail stores have long used Black Friday as an opportunity to offer SPECIAL It has turned into somewhat of a cultural phenomenon and tradition among consumers and families in the U.S. who Retailers continue to make MORE AND MORE MONEY year after year thanks to the Thanksgiving weekend, and DEALS AND PROMOTIONS on products in an effort to are eager to find THE BEST DEALS of the year and get their shopping done for the holidays. as a result continue to invest in the day. persuade consumers to get out and shop for the holidays. NOTEWORTHY EVENTS MANY NOTABLE AND UNFORGETTABLE EVENTS HAVE OCCURRED AS A RESULT OF BLACK FRIDAY. HERE ARE A FEW MEMORABLE DATES THAT WILL GO DOWN IN HISTORY: 1939 In 1939, President Franklin D. Roosevelt declared the date of Thanksgiving to be Thursday, November 23, the second-to-last Thursday of the month. 2008 On Black Friday in 2008, a crowd of 2,000 shoppers in New York waited outside for the 5:0o am opening of the local Wal-Mart. As opening time approached, the crowd grew so anxious they forced the doors open, pushed forward, and tragically trampled a 34-year old employee to death. 2012 BLACK FRIDEY In 2012, Walmart workers at 1,000 stores nationwide planned strikes and protests against Black Friday, arguing against low wages, unsafe work conditions, and being forced to work on Thanksgiving Day. 2013 Online shopping sales officially hit $2.29 billion in 2013 on Cyber Monday, the Monday that follows Black Friday. $2.29 B CONSUMER SHOPPING TRENDS AS BLACK FRIDAY CONTINUES TO GROW AND EVOLVE, CONSUMERS CONTINUE TO SPEND. HERE ARE SOME INTERESTING CONSUMER SHOPPING FACTS ABOUT BLACK FRIDAY: Shop.org predicts online sales in November and the National Retail Federation expects sales in November and December of this year to 4.1% December (excluding autos, gas and restaurant 8-11% grow between 8 - 11 percent over last holiday sales) to increase 4.1 season to as much as percent to $616.9 billion. $105 billion. SALES ONLINE SALES 2013 $135.27 $398 $423 olo 2011 2013 The average 2013 Black Friday online Shoppers spent an average of $423 throughout Thanksgiving weekend in 2013, up from $398 in 2011. order was $135.27 - that's up 2.2% year-over-year. Are CYBER MONDAY & GRAY THURSDAY Taking Over? IN RECENT YEARS, THERE ARE TWO NEW SHOPPING DAYS THAT HAVE BEEN GIVING BLACK FRIDAY A RUN FOR IT'S MONEY: GRAY THURSDAY AND CYBER MONDAY. In 2006, comScore reported that online spending on Cyber Monday jumped 25% to $608 million, 21% to $733 million in 2007, and 15% to $846 million in 2008. In 2013, Cyber Monday sales continued their growth and recorded their highest grossing day 2006 2007 2008 2013 ever at $2.29 billion. In 2012, Walmart opened its doors at 8pm on Thanksgiving Day, the evening before Black Friday. others, including Sears, Toys R Us and Kmart, also opened at 8pm on OPEN OPEN Thanksgiving. Target opened at 9pm. This new trend of opening on Thanksgiving Day has become so popular that shoppers, news OPEN outlets, and businesses alike have even given it a new name to differentiate it from Black OPEN OPEN Friday: it's known as Gray Thursday. MORE STORES HAVE PLANS TO OFFER EXCLUSIVE CYBER OPEN MONDAY DEALS ONLINE THIS YEAR, AND WILL OPEN THEIR DOORS ON GRAY THURSDAY-THE NIGHT OF Exclusive Deals THANKSGIVING-THIS YEAR AS A WAY TO GET THE MOST OUT OF THE SHOPPING WEEKEND. HOW Small Businesses CAN MAKE THIS YEAR'S BLACK FRIDAY THE MOST PROFITABLE DAY OF THE YEAR IN ORDER TO MAKE THIS BLACK FRIDAY YOUR MOST PROFITABLE DAY OF THE YEAR, SMALL BUSINESS OWNERS SHOULD: INTERVIEW, HIRE, AND TRAIN MORE SEASONAL HELP TOOL snagajob TO USE STREAMLINE EVERY PROCESS BY IMPLEMENTING NEW TECHNOLOGY TOOL TO USE e When I Work ASK FOR HELP SPREADING THE WORD TOOL S buffer TO USE PARTNER UP WITH OTHER BUSINESSES PURPOSE: Create and sell some sort of combined product (like a gift basket) or co-sponsored deal (like a date night package) Special CREATE HOLIDAY-THEMED MARKETING AND ADVERTISING MATERIAL TOOL Canva TO USE THANKSGIVING Special Price BONUS ITEM LAUNCH AN IRRESISTIBLE OFFER TO CLOSE OUT THE YEAR 50% OFF PURPOSE: Special $30 $20 Everyone loves a good deal, especially around the holidays. Take the opportunity to offer BUY1 GET 1 Free one to your customers! CONCLUSION AS BLACK FRIDAY QUICKLY APPROACHES, TAKE TIME AS A SMALL BUSINESS OWNER TO CREATE A STRATEGY AND PLAN OF ACTION IN ORDER TO MAKE IT YOUR MOST PROFITABLE DAY OF THE YEAR. UNDERSTAND HOw CONSUMERS SHOP, HIRE MORE HELP, IMPLEMENT NEW TECHNOLOGY TO STREAMLINE PROCESSES, GET THE WORD OUT ABOoUT YOUR BUSINESS, AND ABOVE ALL, GET IN THE HOLIDAY SPIRIT! When I Work Sources: history1900s.about.com/od/1930s/a/thanksgiving.htm | www.huffingtonpost.com/2012/1V21/walmart-strike-photos-black-friday_n_2171015.html | www.businessinsider.com/2013-black-friday-stats-2013-12 | www.huffingtonpost.com/2012/11/19/grey-thursday-black-friday-sales-start-early_n_2137659.html | www.theguardian.com/business/2012/nov/14/black-friday-grey-thursday-staff-backlash | mentalfloss.com/article/3158Vbrief-history-black-friday | marketingland.com/infographic-black-friday-cyber-monday-shopping-stats-66243