The History of Black Friday & Cyber Monday
Where did it start and how did it get to this point?
The name Black Friday first appeared during the collapse of the US gold market in 1869. Later on, in 1961, Philadelphia police men used the name to refer to the disruptive pedestrian and vehicle traffic that would occur on the day after Thanksgiving. A couple of years later, another explanation went around, saying that Black Friday refers to stores moving from ‘red’ to ‘black’, back when accounting records were kept by hand, and red ink indicated a loss, and black a profit. This explanation was invented by the marketing departments of the shoppings stores that everybody went to, trying to put a more positive message to the term.
In the 80's, your only worry was finding a parking spot and people said things like: ‘I like to be out, enjoying the time with everyone else and shopping. Meet different ones and seeing different faces.’ and: ‘Sometimes you would have to elbow someone else in a crowded store, but that didn’t matter.’
Now we fast forward to 2014, a time when you mention Black Friday, people tell you about the tons of YouTube video’s of women fighting over Victoria’s Secret underwear and police breaking up fights near the iPhone section.
So, how did it become so popular?
When retailers began to realise that they could draw big crowds by discounting prices, Black Friday became the day to shop. Many retailers opened up at 5.00 am or even earlier to hordes of people waiting anxiously outside in the cold. These people started lining up days before the day itself would start, while sleeping in tents.
Luckily, in my opinion, more and more consumers are choosing to shop online, not wanting to wait outside in the early morning over the last limited off-priced item. And who can blame them?
This event has been named: Cyber Monday.
The term was created by marketing companies to persuade people to shop online and made its debut on November 28, 2005. According to research, 77% of online retailers said that their sales increased substantially on the Monday after Thanksgiving. The deals on Cyber Monday are online-only and generally offered by smaller retailers that cannot compete with the big retailers. Cyber Monday is larger for fashion retail, there were also 50% more shoe deals on Cyber Monday than on Black Friday.
So there you have it, Black Friday & Cyber Monday. Now go set up that newly bought, customised, limited edition Christmas tree. You deserve it.
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