Why is it Called Black Friday? And is it the Best Day for Deals?
There are a lot of questions people have when it comes to Black Friday. Why is it called Black Friday? Is it the best day for specials? These are fair questions, and the answers, in some cases, are really interesting. We’re going to take a look at these questions and some more that you may have never considered before. So let’s get started by answering all your Black Friday-related questions.
Why Is It Called Black Friday?
The origins behind ‘black Friday’ and its name for the most significant day of specials in retail originated in the 1980s. Initially, the phrase we’re all so familiar with began being used to signify a boost in retail sales that created a red-to-black profit narrative. As a result, black Friday was the common term for retail stores achieving a profit for the year. As a result, it was eventually titled the United States' most important day in retail.
When Is Black Friday?
Black Friday takes place once a year, the day after Thanksgiving. This year it will take place on November 25th. Between 2002 and 2007, black Friday sales saw an average annual increase of 3.5%. 2008 and 2009 saw a decline and slight growth due to the 2008 financial crisis. However, now the average annual increase is at 4.8%.
What Specials Are Byproducts Of Black Friday?
While Black Friday has been around since the 80s, Cyber Monday is still relatively new. It began officially in 2005 when The National Retail Federation (NRF) needed to create a term to observe the online sales that happened the Monday after Thanksgiving. This was before online sales out-competed brick-and-mortar stores. Online retailers wanted a piece of the action, and this resulted in Cyber Monday. However, since then, the line between these two events has become increasingly blurred.
Pros & Cons of Black Friday
Black Friday comes with its own pros and cons. Here’s what you need to know!
Pro - Incredible Deals
Black Friday easily has some of the best deals available for consumers across all departments. Of course, other specials might gear towards certain departments more than others, but Black Friday encompasses everything, and it does so vigorously.
You can find some items, even big ticket items, at incredibly low prices. Some of these prices might even be the lowest they’ve ever been or will be for some time.
Con - Can Lead to Overspending Beyond Budgetary Means
The unfortunate reality is some people have little self-control when it comes to specials. This is especially true when they’re faced with a sensory overload of deals and shopper excitement. They end up getting things that they potentially don’t need or can’t afford. It’s important to have a plan and budget to avoid this kind of reality.
Pro - You Usually Know What You’re Getting
Cyber Monday is relegated to online shopping. Black Friday is both in person and online. For the most part, you have a firm idea of what products you’re looking at and what you’re getting. Of course, you might be shopping online too, which negates this point. However, Black Friday specials are usually announced slightly in advance compared to Cyber Monday sales. This means you’ve got the chance to make certain what you’re purchasing is the correct item.
Con - Some Deals Are Deceptive
We can so easily be lured in by great-looking deals. The big signs, the dramatic slashes and new prices are written in. It’s intoxicating and alluring. Unfortunately, however, sometimes these ‘discounted’ prices are far from discounted. They seem like incredible deals, but they’re not great at all.
For starters, we’ve got issues with quality. Some items on special might not be items of the highest quality. You’re helping reduce the stock of items potentially not worth keeping around. Some manufacturers actually produce more items at reduced production costs to offer them for Black Friday at ridiculously low prices. So approach with a bit of scepticism. The final thing we’d note is making sure a ‘deal’ is actually a deal. Don’t be fooled by a tiny discount made out to be a much larger discount.
Pro - It Can Be a Group Effort
How to approach this pro is debatable. However, if you’ve ever wanted to spend more time with the family, then Black Friday is the way to go. This will get you some quality time with your family as you brave the battlefield that is brick-and-mortar stores on Black Friday. It can be a madhouse, so get ready!
Con - Crowded Environment
Building on the last point, Black Friday is pandemonium. It’s busy regardless of where you shop, and some of the people looking for specials aren’t afraid of doing whatever it takes to get the deals. So be prepared for aggressive shoppers, long lines, parking struggles, and much more.
Black Friday is by far the best day for deals. It’s not the easiest day by any means, but for specials, it wins hands down. If you’re not willing to brave a big box store or the mall, then stick to online shopping. In the last decade, online shopping has caught up with brick-and-mortar stores to provide a similar experience, albeit much calmer.
Catch is also gearing up for Black Friday, and we’re going to be bringing the heat this year! We’re going to have specials across the board to get you saving money like you never thought possible. So set up an account today, start building that wishlist, and prepare for the savings of a lifetime.