In 2024, Black Friday will be November 29th and Thanksgiving Day will be November 28th. This major shopping event in the United States kicks off the holiday shopping season. It aims to lure people with deep discounts on retail items at this time of year.
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The meaning of black friday
Black Friday has become one of the busiest shopping days of the year. This day is often associated with deep discounts from retailers, resulting in higher consumer spending. It is estimated that total retail sales this holiday season could reach $989 billion, with consumers planning to spend an average of $771 per person3. This day is crucial for retailers as it can significantly impact their annual sales figures, often accounting for nearly a fifth of their total sales.
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Why celebrate it?
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The term “Black Friday” originated in the mid-20th century, mostly in Philadelphia, when police used it to describe the chaotic crowds and heavy traffic as shoppers poured into stores after Thanksgiving. Initially, it had a negative connotation because it was a challenging day for law enforcement. Over the years, however, retailers have redefined the term to reflect a positive outcome: “turnaround,” which in accounting terms means businesses look to increase the profitability of their sales figures during this critical period.
cultural importance
Black Friday has become an event that extends beyond just one day of shopping. Now, it’s a social event, with friends and their families out shopping. The word is synonymous with consumerism, which kicks off holiday celebrations. Just in the past few years, the event has grown in popularity across the globe, so even countries that don’t have Thanksgiving are now adopting this strategy.
Shopping trends and deals
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Sales will be across the following main categories: electronics, clothing, toys and homewares. This is mostly electronics. Discounts on electronic products such as TVs and computers are expected to range from 30% to 50%. Some stores will have sales on Cyber Monday, calling it Cyber Week, and have online purchases available throughout the week.
Black Friday 2024 is set to be a major event on the retail calendar, with significant cuts and a focus on great in-store and online experiences.
Source: https://dinhtienhoang.edu.vn
Category: Optical Illusion