Wednesday, January 22, 2014
Black Friday 101
The Friday most looked forward to by consumers is the fourth Friday of November. Known as Black Friday, it marks of the beginning of the holiday shopping season and is the biggest shopping day of the year. The term has varying origins but the most people think it is rooted in the fact that in accounting books a profit is recorded in black ink. Another origin of the name sprouts from the police of Philadelphia, who called this day, Black Friday in 1961 since it was difficult to control the hordes of pedestrians and cars thronging the streets after Thanksgiving.
A number of states call a holiday on Black Friday, enabling shoppers to indulge in shopping sprees. According to Statistic Brain, the average consumer spending on Black Friday in 2012 was $423.
Black Friday is a lucrative time for retailers, inducing some of them to open as early as 5 pm on Thanksgiving Day. The results of the day are very important not just because of the profits that could be made, but also because they help identify market trends and sentiments.
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