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I'm sure you’ve all heard of Black Friday. Maybe you know it as that week where everything is on sale? The week where everything is sold out? The week when people get up extra early, to ensure they get the best clothing deals?
It’s all of that. But why would it be named in such a way?
To understand, we must go to the United States of America in the 1960s. The name was used to describe the day after Thanksgiving (usually the 4th Thursday of November), and the term may have come about from the practice of businesses recording profits in black ink, and since the day after Thanksgiving is when retailers traditionally turn a profit, as that is usually when Christmas shopping begins, they would move ‘in the black’, hence the term ‘Black Friday’.
And it definitely is ‘in the black!’ According to Adobe Analytics, consumers spent a record $9.8 BILLION online on Black Friday, a 7.5% increase compared to last year.
However, the vigilant amongst you will realize and think, ‘Harry, you’ve talked about Black Friday, but your facts state it originates in the USA. How did it come to the UK?’
The idea was first introduced to the UK by Amazon, who were already familiar with the idea of Black Friday, in 2010. Reportedly, this was met with much enthusiasm, as items sold out at speeds no one had ever seen before. This was later followed by Asda in 2013, and the concept of Black Friday has stuck around ever since.
But don’t just listen to me talk about the impacts Black Friday has on the large scale! This is what Nathan Hau, a local schoolboy, had to say about Black Friday:
Harry: ‘What did you buy?’
Nathan: ‘I bought a mouse and lighting for my gaming pc setup.’
Harry: ‘What sort of deals did you get?’
Nathan: ‘I got amazing deals such as a 66% off deal on my mouse which retails at 72 pounds which I got for 24 pounds, an amazing deal!’
Harry: ‘How do you feel about Black Friday as a whole?’
Nathan: ‘It was very convenient since I get a limited amount of money and I could buy things that I wanted which was very useful’
Well, there you have it. Nathan, like many people, has benefitted from these late November sales by buying his items in sale. Considering the amount of sales and profits brought in, I guess you really can say it is a ‘Black’ Friday.