Why is it celebrated? History, Significance and Cultural Significance

Black Friday 2024 falls on November 29, and Thanksgiving falls on November 28. This major shopping event in the US kicks off the Christmas shopping season. It is meant to attract people with massive discounts on retail items at this time of year.

The meaning of Black Friday

Black Friday has become one of the busiest shopping days of the year. This day is typically associated with heavy discounts from retailers, resulting in high consumer spending. For this year, the holiday season is expected to generate $989 billion in total retail sales, with consumers planning to spend an average of $771 per person3. The day is crucial for retailers as it can significantly affect their annual sales figures, often accounting for almost a fifth of their total sales.

Why is it celebrated?

The term “Black Friday” originated in the mid-20th century, primarily in Philadelphia, where police used it to describe chaotic crowds and heavy traffic that flooded the city as shoppers poured into stores after Thanksgiving. At first it had a negative connotation because it was a challenging day for law enforcement. But over the years, retailers have redefined the term to reflect a positive outcome: moving “into the black,” which in accounting terms means profitability in terms of businesses looking to increase their sales numbers during this critical period.

Cultural significance

Black Friday has become an event that goes beyond a day of shopping. Now it is a social happening where friends and their families go shopping. The term is synonymous with consumerism, and it’s something that kicks off the beginning of holiday parties. Just in the last few years, the event has gained popularity worldwide, so even countries that do not have Thanksgiving are now using such strategies.

Shopping trends and offers

Sales will be cut across the following main categories: electronics, clothing, toys and household items. This will mostly be the electronics area. Discounts on electronic goods such as TVs and computers are expected to be between 30 percent and 50 percent. Some stores will sell over Cyber ​​Monday to make it “Cyber ​​Week,” and online shopping will continue throughout the week.

Black Friday 2024 will be a big event in retail calendars, with deep cuts and a focus on great experiences in store and online.

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