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A Brief History of Black Friday

A Brief History of Black Friday. Lisa Quinn Marketing, King’s Fork High School References: Time (in partnership with CNN) http:// www.time.com/time/business/article/0,8599,1942935,00.html Wikipedia: http://en.wikipedia.org/wiki/Black_Friday_(shopping). What is Black Friday?.

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A Brief History of Black Friday

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  1. A Brief History of Black Friday Lisa Quinn Marketing, King’s Fork High School References: Time (in partnership with CNN) http://www.time.com/time/business/article/0,8599,1942935,00.html Wikipedia: http://en.wikipedia.org/wiki/Black_Friday_(shopping)

  2. What is Black Friday? • Black Friday is the Friday following Thanksgiving Day in the United States, traditionally the beginning of the Christmas shopping season. • Upon opening, retailers offer doorbuster deals and loss leaders to draw people to their stores. • Loss leader: a product sold at a low price (at cost or below cost) to stimulate other, profitable sales.

  3. The term Black Friday itself was originally used to describe something else entirely — the Sept. 24, 1864, stock-market panic set off by plunging gold prices.

  4. Why the shopping term BLACK Friday? • Theories: • Newspapers in Philadelphia reappropriated the phrase in the late 1960s, using it to describe the rush of crowds at stores: • JANUARY 1966 -- "Black Friday" is the name which the Philadelphia Police Department has given to the Friday following Thanksgiving Day. It is not a term of endearment to them. "Black Friday" officially opens the Christmas shopping season in canter city, and it usually brings massive traffic jams and over-crowded sidewalks as the downtown stores are mobbed from opening to closing.

  5. Theories on the origin of the name “Black Friday” cont… • The term Black Friday began to get wider exposure around 1975, as shown by two newspaper articles from November 29, 1975. The first reference is in an article entitled "Army vs. Navy: A Dimming Splendor," in The New York Times: • Philadelphia police and bus drivers call it "Black Friday" - that day each year between Thanksgiving Day and the Army-Navy game. It is the busiest shopping and traffic day of the year in the Bicentennial City as the Christmas list is checked off and the Eastern college football season nears conclusion.

  6. Theories on the origin of the name “Black Friday” cont… • The derivation is also clear in an Associated Press article entitled "Folks on Buying Spree Despite Down Economy," which ran in the Titusville Herald on the same day: • Store aisles were jammed. Escalators were nonstop people. It was the first day of the Christmas shopping season and despite the economy, folks here went on a buying spree. ... "That's why the bus drivers and cab drivers call today 'Black Friday,'" a sales manager at Gimbels said as she watched a traffic cop trying to control a crowd of jaywalkers. "They think in terms of headaches it gives them."

  7. Theories on the origin of the name “Black Friday” cont… • Later, an alternative theory began to be circulated: that retailers traditionally operated at a financial loss for most of the year (January through November) and made their profit during the holiday season, beginning on the day after Thanksgiving. • When this would be recorded in the financial records, once-common accounting practices would use red ink to show negative amounts and black ink to show positive amounts. • Black Friday, under this theory, is the beginning of the period where retailers would no longer have losses (the red) and instead take in the year's profits (the black).

  8. Did you know??? • Most retailers typically open at 5am or earlier. • This year some stores are opening at midnight Thanksgiving Day in hopes that the extended hours will decrease the masses • Search the internet, what time are retailers scheduled to open this year? Do you think this is a good strategy? Why or why not?

  9. Did you know??? • Many websites have been created to “leak” Black Friday Ads, but be aware, not all ads are official…wait until you have the Black Friday circular in your hands to plan your attack • Find a site that claims to have “Black Friday” deals. Write down the products offered with along with the prices. Compare what you find with the real ads when they come out. www.blackfriday.info Bfads.net Blackfriday.com Theblackfriday.com

  10. Did you know??? • The equivalent to Black Friday online is called “Cyber Monday” and starts the Monday after Thanksgiving. • What are the trends this year as far as e-commerce is concerned?

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