Trends, Origin & History – Why is Black Friday Bad?
You may be asking yourself, “Why is Black Friday bad?” The origins of this shopping holiday aren’t entirely clear, but Taylor-Blake says the term may have originated with Philadelphia police, who had enormous headaches around the Army-Navy football game and the holiday shopping season. He found the earliest recorded reference to the term in a 1961 newsletter that described the day after Thanksgiving as “Black Friday” and described how Philadelphia merchants were struggling with public relations problems.
It’s associated with brawling
Black Friday is the busiest day of the year, but it is also associated with brawling. Although this may seem like a silly association, the fact that so many people brawl while they wait in line for a good deal is an indication that the day is filled with feisty people. Since 2006, there have been a number of recorded deaths and injuries related to Black Friday. During this time, people are also extra feisty and are known to shout and get mouthy.
Several videos of fights have surfaced on social media. One video shows two men brawling in the middle of a mall. The video was shared by onlookers who shouted “World Star,” a reference to the hip-hop website that compiles fight videos. Another video shows a man swinging wildly at two women while a security guard intervenes and breaks up the brawl. In the video, the man even takes a swing at the security guard.
It’s associated with injuries
Black Friday is the busiest shopping day of the year and it has been associated with injuries in the past. People can get into fights or attacks to get the best deals. These injuries can range from bone fractures to facial and internal injuries and can cause psychological harm. The liability of these injuries depends on the negligence of the person or party that caused the injury. For example, if a car struck a pedestrian in a parking lot, the driver could be held responsible for the accident.
In the United States, Black Friday is associated with many injuries. In 2012, a family of six squeezed into a Lexus SUV to go shopping for their eldest daughter’s wedding. While driving the vehicle, the father of the six nodded off. The crash killed his daughter, 24, and her sister, 20. He was later charged with vehicular manslaughter.
While minor injuries are common on Black Friday, serious injuries have occurred as well. Many stores encourage a sense of scarcity, leading shoppers to make reckless decisions. In some cases, this behavior leads to assault and violence. Shootings, stabbings, and fistfights have also been reported. The injuries resulting from these types of behaviors can range from a black eye to permanent disabilities, and even wrongful death.
Black Friday shopping is notorious for its high-speed crowds and violence. In the past 12 years, there have been 11 deaths and 108 injuries related to the event. Many of these accidents occur in stores and parking lots, where tension is high. While chasing the deals, many people tend to ignore the dangers to pedestrians. These injuries often require immediate medical attention.
It’s a big holiday for retailers
For retailers, Black Friday is a holiday for slashing prices and offering deals. But while it’s the biggest day of the year for consumers, stores aren’t always as crowded as they were in the past. For instance, shoppers were not faced with long lines at Best Buy, as was the case a year ago. Despite these challenges, many retailers are battling showrooming and adopting generous price matching policies. Retailers will also be testing different promotions and pricing strategies.
For example, some major retailers will extend their store hours on the week of Thanksgiving and run special deals all week. Some of these deals may include price promotions or extended credit terms. Many stores will also have “Black Friday week” promotions that start the Sunday before Thanksgiving and have time-limited headline promotions every day. For consumers who prefer to shop in person, the multi-day sales can be very beneficial.
Although Black Friday isn’t a legal holiday, millions of employers give their workers a day off on Thanksgiving to begin holiday shopping. Since 2005, the day has become the busiest shopping day of the year. As such, retailers have to open their doors early to lure shoppers and offer special deals to attract shoppers early in the morning.
Retailers should be aware of the growing popularity of online shopping. The holiday season is a huge opportunity for retailers to attract more consumers. The biggest retailers will see an increase in sales during this day, with some of them even reporting 40% growth.
It’s associated with crowds
Black Friday is bad because it’s associated in many ways with crowds and mayhem at the stores. But before that, this shopping holiday has a history of turbulence and chaos. Its origins date back to the 1960s, when tourists descended on Philadelphia on the day after Thanksgiving and the Army-Navy football game. Because of the crowds, police had to work extra-long shifts and shoplifters took advantage of the chaos.
It has also been dubbed Big Friday and Big Saturday. Both names have a rich history. In the Roman Empire, Black Friday commemorates Christ’s death by the Roman government. Nowadays, the event is associated with the sacrifice of wage workers to Mammon. While some people may consider this a negative association, most consumers associate Black Friday with increased sales.
However, many retailers have taken steps to keep Black Friday from becoming the nightmare that many people associate it with. These efforts include implementing curbside pickup and contactless payment options. Additionally, many of the major retailers are emphasizing online shopping and month-long sales in order to limit the crowds. Many people are also concerned about the safety of their families, particularly children.
Although Black Friday is associated with crowds and chaos, many people are still eager to purchase products. In addition to the huge amount of competition that surrounds this day, retailers use various techniques to lure shoppers. For example, door-buster deals can be a great way to attract shoppers. Many of these strategies also encourage people to spend more money because they are more likely to buy other products.
However, while Black Friday is the biggest shopping day of the year, there are some factors that can make the event even worse. First, there is a massive shortage of labor. As more people shop online, stores have fewer employees. This shortage has caused some retailers to raise their wages and offer better working conditions.
Black Friday History 1929
Black Friday is a day full of speculation, chaos, and greed. Its first known occurrence occurred in 1869, when crooked businessmen Jay Gould and Jim Fisk flooded the gold market. They drove up gold prices and hoarded it. They even controlled the supply of toilet paper!
Stock market crash of 1929
The Stock Market Crash of 1929 was a catastrophic financial event. It brought down the stock market from $64 billion to just $30 billion. As the stock market plunged, efforts to contain the situation were like trying to stem the flow of water. Unfortunately, this event affected many people beyond the investors themselves. The recession was particularly devastating for banks, which were a big part of the stock market’s growth. They found themselves with dwindling cash reserves, which led to a huge number of bank failures.
In early October, stock prices began to fall. The first big drop occurred on October 18, and the following day, October 24, was known as “Black Thursday”. After the stock market started to decline, a number of bankers and investment companies sought to stabilize the situation by buying up great blocks of stock. This eventually led to a small rally on Friday.
The crash also caused huge losses for banks, with many of them having taken out millions in loans from the stock market. The foreclosed loans put pressure on customers, and the crash spread to other parts of the country. Meanwhile, other factors such as the inequitable income distribution, a global recession and panic among consumers all played a role in the economy’s continuing decline.
The 1929 crash wiped out almost 40% of the paper stock market’s value. The crash was caused by low wages, a proliferation of debt, a struggling agricultural industry, and an overabundance of large bank loans. Ultimately, it was the result of these factors that led to the collapse of the stock market.
As news spread of the crash, the media started reporting it. As the stock market dropped by 13 percent on Monday, brokers and businessmen feared that the market would plunge further the next day. Meanwhile, people retreated to cheap boarding houses and hotels. These flop-houses were overbooked. Children from nearby tenement districts played stickball with ticker tapes in the streets.
In the late 1920s, the stock market was on an upward trend. This encouraged millions of Americans to purchase stock. This allowed them to invest their money in the stock market, but the prices inflated so rapidly that they were no longer worth the money they paid for them.
Origins of Black Friday
The term “Black Friday” has a long and interesting history. Although it’s most commonly associated with stock market crashes, its origins are much older. In the 1870s, the term was used in reference to the collapse of the gold market, which had led to financial panic. The stock market crash of 1929 would be the start of the Great Depression.
The term “Black Friday” is not derived from the days of slavery, although slave traders did sell their slaves for cheap on this day. Some retailers, however, depend on the holiday season to turn a profit. So, the term is not completely accurate, and it would be very misleading to assume that all retailers are operating in the black.
Today, the term “Black Friday” refers to the day following Thanksgiving that many retailers mark as their peak day for sales. In the past, many retailers were operating at a loss during the rest of the year, but they started making money on this day. It was also a tradition to place a red pen in a drawer, and then pull out a black one – a signal that profit time had arrived. Over the years, this shopping holiday has become one of the busiest shopping days of the year.
The term “Black Friday” actually originated in the 1800s, but today, it refers to the same events. The 1929 stock market crash was a result of the introduction of government gold, which led to a financial panic on Wall Street. In the late 1860s, the term Black Friday started making its way into both US and British English.
Originally, the term “Black Friday” was coined by Philadelphia traffic cops to describe a shopping day in the city. The city was jammed with traffic and visitors as they began holiday shopping. The popular shopping day also coincided with the annual Army-Navy football game. Eventually, the term stuck and quickly spread to other cities and states. In the 1980s, retailers began to push for a more positive spin on the term, and “Black Friday” became a nationally recognized shopping day.
The term “Black Friday” was originally used to discuss the 1929 stock market crash. It soon became a synonym for a day when the stock market crashed, resulting in a loss of more than 11 percent. Over time, however, the term gained a negative connotation, and local retailers sought to change its meaning. In response, retailers tried to rebrand the event as “Big Friday,” but businesses later regained control of the term.
The origin of the term is still debated, but one myth posits that it originated during the time of slavery, when Southern plantation owners would sell slaves at discounted prices on the day following Thanksgiving. This theory, however, does not hold up to scrutiny. Despite this misconception, Black Friday became a national shopping tradition, despite the myths surrounding its origins.
As the holiday gained momentum, many retailers saw their sales return to profitability. Before the holiday, they would have written their losses in red and profits in black. But Black Friday gave them a chance to make their numbers look better by offering lower prices. In turn, consumers rushed in to grab the savings.
Despite the widespread myth, the history of Black Friday has a more complicated story. While it originated in one society, it has spread far beyond the Atlantic to other parts of the world. In reality, the day has many negative connotations. The day’s over-consumption and over-indulgence are detrimental to the current global poverty environment. This also means that the Prophetic emphasis on Zakat is essential in today’s capitalism.
The first instance of the term “Black Friday” was a financial crisis on September 24, 1869. Two Wall Street sharks, Jay Gould and Jim Fisk, had conspired to buy up gold to drive up its price and sell it for huge profits. On that day, however, the conspiracy failed and the stock market crashed, bankrupting everyone from the Wall Street barons to the farmers.
False claims about Black Friday
The day after Thanksgiving, popularly known as Black Friday, is one of the busiest shopping days of the year in the United States. National chain stores typically offer limited-time money-saving specials and online deals. The term comes from the concept of retailers operating at a loss, and turning a profit on the following Friday by offering huge discounts.
The first use of the term “Black Friday” was to describe a financial crisis that shook the nation in September, 1869. In that time, a group of Wall Street financiers attempted to corner the nation’s gold market, sending the price sky-high. However, President Ulysses S. Grant intervened to prevent the speculators from achieving their goal, and the stock market plunged.
Another myth about the day’s origins has popped up in recent years, alleging that Southern plantation owners used the day after Thanksgiving as a “Black Friday” to purchase enslaved workers at a discount. However, there is no evidence to support this claim.
Black Friday history is an interesting subject. Although it is associated with the day after Thanksgiving, its history is much more complicated than that. In the late 1800s, it was a day of slave auctions in the South. During the Great Depression, this holiday was associated with the financial crash. However, Black Friday’s history has several nuances and many of the false claims that circulate on social media have nothing to do with the day’s true origins.
While many people associate Black Friday with “showing no losses,” this is simply not true. Black historically has been associated with economic stress, and Black Friday first occurred in 1869 when a financier named Jay Gould tried to corner the gold market, resulting in panic and collapse. While Black Friday may have been the first day of the Great Depression, it was merely one day out of many.
Black Friday Trends in the Last 10 Years
The number of people that have decided on a brand and retailer for Black Friday is declining. Today, less than two out of every 10 shoppers have made this decision. Whether you want to shop at a brick and mortar store or online, there are many trends you should know. If you want to make the most of Black Friday, be sure to check out these trends.
Consumer spending on Black Friday
In the last decade, consumer spending on Black Friday has risen substantially, and it isn’t just about the big ticket items. Toys, books, gift cards, and technology have all seen increases in sales. Of those categories, toys are the biggest sellers, with sales up 565% from September averages. Other top sellers include NERF toys, Legos, and Hatchimals. Technology is also popular, with Amazon Echo dot and Fire TV among the top sellers.
While Black Friday has had its fair share of challenges over the last decade, it has also transformed the shopping culture. Most retailers now make an effort to be competitive on this day, even when it means lower prices. According to AArete, a global management consulting firm, a record amount of $859 billion in holiday sales is expected to be achieved.
Men are more likely to participate in Black Friday sales than women are. They plan to spend $16.7 billion on electronics this year, while women are planning to spend $3.2 billion on beauty and makeup. In terms of age, Millennials and Gen X are the most likely to participate in Black Friday shopping, with the baby boomers spending less than half as much.
While many shoppers save up throughout the year for Black Friday deals, many are using the day after Thanksgiving as an opportunity to stock up on gifts. According to Adobe Analytics, more than one-fifth of Black Friday transactions occur online. In fact, the amount of online traffic on Black Friday in 2019 increased 22%, with mobile devices accounting for 44.6% of those transactions.
However, the average discount on Black Friday this year is only 24%, which is lower than last year. And the discounts were not as attractive as in previous years. However, some promotions were comparable to those in the last decade, and computer and toy prices are down 15.9% and 12.4% respectively. Despite this lackluster year, consumers are still looking for the best deals, and the latest surveys show that 88% of consumers are willing to spend time to find the best bargains. They will also inspect the quality of the products before purchasing.
One of the biggest Black Friday trends is the rise of online shopping. According to a recent survey, more than 60% of consumers plan to shop online for Black Friday deals. This trend may continue as more stores move their sales online. In the last decade, Black Friday has become the biggest shopping day of the year, but with the rise of online retailers, it may no longer be a top-tier shopping day.
The rise of online retailers has also led to a decline in traditional brick-and-mortar stores. According to Adobe Analytics, U.S. retailers saw a drop of nearly 10% in foot traffic on Black Friday in 2020. Retailers have also been affected by Covid-19, a virus that impacted the holiday shopping season and forced many to take their brick-and-mortar businesses online. However, most consumers will still visit brick-and-mortar stores if they can, so traditional brick-and-mortar retailers are still a viable option.
In terms of impulse buying, the Black Friday holiday is a great time to buy gifts. The average spend per shopper will be $401 in 2020. In fact, many families use Black Friday as a stock-up holiday shopping day. Traditionally associated with the Thanksgiving holiday, Black Friday has now become a global phenomenon.
The rise of online retailing has caused many retailers to go all-out to catch the wave. Amazon, for example, has invested in technology to offer a seamless shopping experience across its various platforms, and Walmart has also made the transition to a hybrid mode of commerce.
Despite the rise of online shopping, brick-and-mortar stores are still an important part of the holiday shopping experience. According to PYMNTS, in-store retail sales are up 10% this year compared to last year. However, online retailers experienced a 10% decline in traffic compared to the peak season of 2020.
While Black Friday started as a US phenomenon, other countries have embraced the shopping holiday and adapted the concept for their own purposes. Today, shoppers are accustomed to online shopping, so the term “Black Friday” has come to mean a day dedicated to shopping.
According to PYMNTS, more affluent shoppers are utilizing their credit cards to pay for their purchases online, rather than in-store. In 2018, almost 60% of consumers used credit cards to purchase items online. However, in-store credit card usage has dropped to 40%, from 50% three years ago. However, in-store debit card use rose by five percentage points from 2018.
The growth of e-commerce has been a major factor in the rise of online shopping. In the US alone, e-commerce generated $10.8 billion on Black Friday. The overall revenue from both Black Friday and Cyber Monday will top $188 billion by 2020, according to Adobe Analytics.
Online cross-border shopping is on the rise. In the last 10 years, more than 50% of French consumers have bought a product from another country online. Among these consumers, 44% bought cross-border products from China, 13% from the United Kingdom, and 15% from Germany.
The growth of international sales is largely driven by the growth of mobile devices. In 2014, mobile devices surpassed desktop computers in sales, while in 2021, 71% of all purchases will be made on mobile devices. In 2016, 54% of all BFCM purchases would be made on a mobile device, while 29% of sales would be from a desktop.
Canada has also caught on to the Black Friday trend. In the last decade, nearly all major retailers in Canada participated in the holiday. Some of these stores opened early in Canada, and many more will offer special deals to Canadian consumers. Many retailers will offer lower prices to attract more shoppers.
Black Friday is a holiday celebrated around the world, but in some countries it is not the only time to shop online. In Romania, Black Friday is celebrated a week before the US holiday, making it easier to compare prices. In the UK, Black Friday sales are higher than in the US.
Cross-border sales growth is projected to exceed US domestic e-commerce by as much as 150%. This year’s Black Friday and Cyber Monday are the busiest shopping days of the year, and according to ESW’s forecasts, this peak period will be even stronger than usual.
There have been numerous reports of Black Friday violence in the last decade. These incidents include fatal fights, impatient mobs, and stampedes. While these incidents are not a direct result of Black Friday itself, they are an indication that shopping on this holiday is not without risk. While the safety of consumers is always a top concern, there are ways to ensure that everyone remains safe.
In 2008, the Occupational Safety and Health Administration (OSHA) issued guidelines to stores to protect shoppers. They have also issued tips to help store employees manage crowds. One employee in a Walmart in Valley Stream was killed in a stampede, and dozens of shoppers are injured each year.
Because Black Friday is one of the busiest shopping days of the year, safety precautions are essential. People should wear face coverings and wash their hands often. If a situation appears to be too dangerous, it’s best to leave immediately. Remember that a good deal is not worth risking your safety. Remember that retailers are incredibly competitive during the holiday season and you can save even more money by purchasing your holiday gifts online.
While Black Friday is traditionally the busiest shopping day of the year, less than half of consumers are concerned about the safety of their purchases. As a result, many companies relying on Black Friday foot traffic have been affected. With a growing awareness of the risks involved, retailers need to vary their campaigns and create a more secure environment for consumers.