Black Friday 2024: Black Friday is observed annually on the Friday following Thanksgiving Day, which falls on the fourth Thursday of November in the United States. This day marks the unofficial start of the Christmas shopping season, featuring significant discounts and promotions offered by retailers. Known as one of the busiest shopping days of the year, Black Friday 2024 will take place on November 29.
Also Read| Black Friday 2024: Date, Significance And History
The term "Black Friday" originally referred to the point when retailers transitioned from operating at a loss ("in the red") to turning a profit ("in the black"). Over the years, it has evolved into a global shopping phenomenon, characterized by massive crowds, extended store hours, and widespread sales both in stores and online. Although rooted in U.S. tradition, Black Friday has gained worldwide popularity.
Why Do Black Friday Sales Exist?
- Black Friday sales serve as the starting point for the critical holiday shopping season, a period during which retailers expect to generate a significant portion of their annual revenue. Here's why retailers prioritize Black Friday:
- Stimulating Early Holiday Spending: By offering substantial discounts, retailers encourage customers to shop early, boosting sales volume and driving demand.
- Clearing Inventory: Retailers often use Black Friday to clear out older or surplus stock, making room for new merchandise ahead of the holidays.
- Intense Competition: The competitive nature of Black Friday drives stores to outdo one another with attractive deals, fostering consumer interest.
- Media Coverage: Black Friday sales garner extensive publicity, raising brand awareness and drawing in more customers.
On this day, many stores open early, and shoppers, eager to secure the best deals, often arrive hours before opening, with some even camping outside malls. The day has become synonymous with finding bargains and saving money on Christmas gifts, making it a pivotal moment in the retail calendar.
