Get ready and cheer up shopaholics because “Black Friday” is coming, the World’s biggest shopping event. Around the globe almost every individual knows about the Black Friday but still there are some who didn’t know about this mega shopping event.
In this globalized world may be some of them familiar with the tag “Black Friday” due to social media but don’t know the history behind this jumbo event.
So’ let’s have a look at the history and how it celebrated around the globe!
Black Friday and the story behind that word “Black”
Black Friday is a commercial holiday in United States which is usually celebrated the day after Thanksgiving and is traditionally thought at the beginning of the Christmas gift-buying season.
Though it is a holiday which was initially started in the U.S., it has been exported to many different countries around the globe although in these other countries, it is celebrated on different days than what it is celebrated in the United States.
While talking about Black Friday our mind often clicks why it called Black? So the answer is; the term “Black Friday” was coined in the 1960s to mark the kickoff to the Christmas shopping season. “Black” refers to stores moving from the “red” to the “black” back when accounting records were kept by hand and red ink indicated a loss, and black a profit.
When the term Black Friday was originally used, it wasn’t used to describe the commercial holiday of today. No, it was a term used to refer to a specific financial crisis.
This crisis was the collapse of the United States Gold Market on September 24, 1869. This collapse happened because two stock brokers tried to corner the gold market to make themselves extremely wealthy. However, the plan didn’t work and they ended up sending the Stock Market into a free-fall that eventually caused its collapse.
Originally, it was just celebrated for one day but as the world progressed and online shopping became a thing, the concept of sales extended for few extra days. Currently the shopping discounts start around November and continue for two weeks before and after Thanksgiving Day.
How it celebrated around the Globe
In United States Black Friday is celebrated in 24 states. Some of the states of USA, including California and Georgia, already have official public holidays on Black Friday.
As we know that US is the pioneer of this widely recognized shopping day, you would certainly expect people going crazy for deals over there.
Every year, it is described as the busiest shopping day by the US media. It was on top of the list of busiest shopping days in 2003 and it has remained at that position since then.
For the UK, Amazon first introduced Black Friday in 2010. Before that, Boxing Day was by far the largest online shopping day in UK until 2014, when Black Friday rocketed.
The concept quickly gained popularity among other retailers, who began running similar online discounts and Dixons Carphone with its primary brand Currys broke all previous sales records for Black Friday during that year.
In the UK, the sale is now typically lasting 5 days, termed Black “Five day.
As we all know that Paris is known as the Fashion Hub of world. France is the house of most of the renowned brands. So shopaholic just loves Paris. So from recent years Black Friday gets more importance in French people.
International retailers like Apple offered as much as 85% discounts back in 2014. Some of the local French companies like Darty and Auchan are also advertising for the huge day.
After United States this trend comes to Europe and now it comes in Asia and covered almost whole world.
The popularity of Black Friday has almost increased by 50% from 2013 in India. The main reason why it is gaining so much attention is because of e-commerce websites like Amazon, Flipkart and Snapdeal, which came together to offer mega deals.
Pakistan was a bit late to observe the mega shopping day. Daraz.pk was the first to bring Black Friday notion to Pakistan in 2015, when it partnered with Easy paisa and offered good deals to consumers.
After that other sellers followed the trend and it was explosive. Currently many websites including Daraz, Yayvo and others are offering amazing sales. Black Friday 2017 celebrations have already begun in Pakistan.
So, along with these countries Black Day is celebrated also in other countries of the world like Germany, Mexico, and Spain etc.