What is Black Friday?
Black Friday is the informal name given to the Friday that falls after the Thanksgiving i.e. on the 4th Thursday in the month of November. On this day, various brands and retail shops give hefty discounts on their products to increase their sales. People observe this time as the Christmas shopping season and buy Christmas presents for their loved ones at the best prices. The term gained nationwide recognition after it was observed that most people usually shopped extensively after the Thanksgiving and therefore, retailers started giving out discounts so that people get attracted to their stores.Black Friday 2019 was originally started in the US but over the years retailers of almost all countries across the world have started using this time to promote their products.
Increase in retail sales
After every Black Friday weekend, National Retail Federation conducts a survey on the sale that occurred that year and it is observed that the retail sales keep on increasing every year. Various leading brands, therefore, come up with new offers each year to increase their customers during this time. This is where advertisements are really essential as if their offers and products are not advertised greatly, people would not even be aware that that store had certain discounts. Social media marketing is hence used as a tool by these retailers to ensure their increase in sales.
Violence and chaos in the market
Since some of these stores cut down the prices of their products to half of the original price, there are a large number of people who generally assemble at stores to buy these products. Some even want to stock up on items for the whole year due to this discounted price. This results in violence and chaos in the market at times. People can be seen fighting and literally playing a tug of war over a piece of cloth or for even grocery items. Some people get minor injuries whereas some even are injured severely enough that they have to be taken to a hospital to get treated. Sales representatives of that store thus have to step in to resolve these issues before the environment erupts in chaos. It is due to this reason why many people now take benefits of these sales by shopping online.
Black Friday is, therefore, a great blessing for all the shopaholics and people with limited budget. One can buy a lot more products with their budget effectively than they would have spent on purchasing a few items originally. Therefore, it is a wise idea to save up for this day in advance so that you can shop more smartly. Saving up will enable you to take full advantage of these sales and you will be able to purchase all items from your cart from stores all across the world at the best prices.