Love it or hate it Black Friday, Black Fiveday and Cyber Monday are here to stay.
This year Black Friday falls on 25th November.
Black Fiveday kicks off on Thursday 24th November and runs through to Cyber Monday.
Cyber Monday falls on 28th November.
Here are 10 facts that you probably didn’t know about the event and its history.
Black Friday used to refer to US stock market crashes in the 1800s.
Although it is now known as the biggest shopping day, in the US the term “Black Friday” originally referred to very different events.
The first time the term was used was on 24 September 1869, when two speculators attempted to corner the gold market on the New York Stock Exchange. The government stepped in flooding the market with gold, prices plummeted and many investors had a very black day and lost large fortunes.
Black Friday now references the huge profits that are generated on the day.
Many retailers see their biggest profits of the year on Black Friday. Black has always been associated with profit whereas red has always been associated with loss.
Black Friday is always the Friday after Thanksgiving which is celebrated on the 4th Thursday of November.
Tradition denotes the Friday following Thanksgiving marks the official start of the Christmas shopping period. The department stores in New York City embraced this concept and in 1924 the world famous Macy’s Christmas Parade began.
Black Friday didn’t officially become the biggest shopping day of the year until 2001.
Up until 2001 the biggest shopping day was the last Saturday before Christmas. Black Friday has cunningly converted us from shopping procrastinators and last minute buyers to early organised bargain hunters.
Black Friday has now become Black Fiveday.
In an attempt to maximise sales and profit retailers have extended the original one day event to a 5 day bonanza starting on the Thursday and going all the way through to Cyber Monday.
Cyber Monday was the online version of Black Friday.
Black Friday was historically a bricks and mortar event. As e-commerce sales grew e-retailers created their own version of the mayhem and called it Cyber Monday. In reality the whole 5 days of madness is now available both in store and on online.
Retail consultancy Salmon are tipping 2016 as the best so far for consumers using smartphones to bag their deals.
They are predicting approximately 5 billion pounds of sales over the five day period, 2.55 billion of which will be generated by mobile devices.
Research network SimilarWeb have revealed the biggest profit makers of 2015.
HouseofFraser.co.uk, Debenhams.com, Newlook.com, Etsy.com and Boots.com
If you are looking to grab a deal this year the hot retailers we are being tipped to watch are;
Argos, Amazon, Currys, Marks and Spencers, John Lewis, Tesco, Gam and House of Fraser
According to a Royal Mail survey:
52% of people spent more on Black Friday 2015 then they did in 2014 with an average spend per person of £191.00 and an average purchase per person of 5 items.
However you feel about Black Friday its impact on our economy and businesses is undeniable.
I recommend we embrace it fine tune our own sales and promotions to make the most of it and don’t forget to bag a bargain or 5 for ourselves!