Black Friday

Seohyun Jeon

January 2024 — Business

Every November 24th, one big event is held in most countries. This is one of the biggest events around the world, which is called “Black Friday.” On the day of Black Friday, or during the entire week, stores, including online shopping malls, do big sale events. During the week, most products are discounted (even up to 90%), so people start to buy what they wanted before. You’ve probably also bought something during Black Friday discount periods, but have you ever questioned about the Black Friday event itself? When did this event start? Which country first started this event? Why did it start in the first place?

No one clearly knows about the origin of this word, but there are a few theories. One popular theory is that the term Black Friday originated in Philadelphia approximately in the 1960s. This term was used by the police to describe the disruptive traffic that often occured on the day after Thanksgiving. Another theory is that the term "Black Friday" refers to the profit turning black (positive) from red (negative).

Black Friday has been evolving over many years. Today, it is not just a one-day event like a pop-up retail store. Many retailers extend their sale events for the entire week, and some extend until Thanksgiving. A few online shopping websites run the event even for an entire month to maximize their profits.

Black Friday has its own tradition. Before the day, people wait in front of store entrances so that they can buy items with high discounts, expensive drip machines for example, as soon as the store opens. Some store owners open their store as early as the midnight of Black Friday, or even during Thanksgiving evening. This marketing technique is known as doorbuster deals. They are called doorbuster deals because people "bust" open the doors to grab items that are offered at really low prices for a short time or in limited quantities.

But do retailers get enough profit during the event? Many sellers do use this week as a big chance to attract new customers and make them buy more and more. Black Friday also sets the overall mood of the holiday shopping season (Thanksgiving, Christmas, and New Year) with attractive promotions that can boost sales. A successful Black Friday sale event can be the key to increase profit for many retailers.

Black Friday has controversies too. Accidents that happen because of customers overcrowding, forming long lines, and grabbing items have been reported frequently. Items with limited quantities but high discounts can lead to chaos among customers.

Black Friday, now a worldwide event, actually originated from the United States, and it spread out around the world and gained popularity. Many countries now participate and enjoy the Black Friday sale events, with retailers and store owners offering attractive discounts to customers.

Black Friday is a significant shopping event with its own complex history. Even though it has many issues, it has become a worldwide event that influences and even improves marketing strategies. When Black Friday comes, we shouldn’t be persuaded by the attractive advertisements. We need to think before we buy so that we don’t spend money irrationally, thinking “These items have very high discounts, so it is all fine.

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