All of us has heard this term, but those who are not from the Cristian community still do not know much about it. this is not a religious event, and to be very accurate it is not an event.
It is just a Friday with a lot of discount deals, right after thanks giving, in western world or in some eastern countries. Business owners ten d to go for a discounted day sale, where you can get an unimaginable discount.
Black Fridays not only cover cloths, groceries, food items but also on material such as best video games console deals . Every product is on discount. People are on new year and Christmas holidays and there is a mass of people in malls and shops to support the sales.
It is beneficial not only for the companies but also for the consumers. It has a huge impact on the economic growth of a country as well. other developing countries where there are Christians in minority also enjoy these cut off prices. In a nut shell black Fridays are an economic treat for every single person on this planet in one way or the other.
History of black Friday
In earlier times, there was not any black Friday in the last days of November, however it was celebrated in September but not like the current black Friday sales.
In 1869, some stock brokers and stake holders fell into an economic trouble, it affected the gold prices and ultimately the entire economic set up was disturbed. Ultimately almost every product and business faced the music, and the prices were lowered up to 40 percent.
Next, in 1905 some Canadian store started the thanks giving parade in which they organized some Santa clauses etc. these parades were continuously followed. Ultimately in 1925 it was decided that on fourth Thursday of November each state and country would celebrate this parade, and on the next day, which will be Friday there it will be a huge sale.
After this parade people felt very tired and they wanted a four day long weekend, this weekend was supposed to be the most earning one, because the next month is of December and every one would be trying to earn more.
Thus, to attract more customers, companies devised a way for letting people come in to shop. It was finally declared in late 1960 in newspapers that the next day after thanks giving parade will be a black Friday.
Initially business men faced a lot of issues, small business were not able to sell as much, but big businesses were ready to take the risk. In 2011 they earned a lot.
With the advent of digital marketing and online shopping black Fridays have been revolutionized. Now you can see how online stores are spending so much on the promotion of black Fridays, it seems like that business are going to lose, but most companies and factories offer bonuses at the end of the year, because Christmas is round the corner so people tend to spend money without any hesitation.
Black fridays have effected the global economic systems very much, in other countries where there are no Christmas or thanks giving events black Fridays are effecting small and local business through online shopping options available to people as well.
For solving this issue. The local bands are also moving for sales named as winter sales etc. This can harness the opportunity for them. otherwise some countries will have to face the music in an adverse fashion, companies are devising some sustainable policies prior to the event of thanks giving and black Fridays.
