Black Friday 2024: History, Importance, and What to Expect

Black Friday is a highly anticipated shopping event recognised worldwide for its remarkable discounts, exclusive deals, and vibrant shopping frenzy. Traditionally observed the day after Thanksgiving in the United States, it signals the start of the holiday shopping season.

This annual shopping spree has become an integral part of Thanksgiving traditions, holding immense importance for both consumers and retailers. It consistently ranks among the busiest and most lucrative days of the year, often setting the tone for the holiday season, which accounts for nearly 20% of yearly retail sales.

When is Black Friday 2024?

In 2024, Black Friday will be observed on November 29, the day after Thanksgiving, celebrated on the fourth Thursday of November. On this day, retailers offer deep discounts and exclusive promotions across a wide range of products. The event attracts enthusiastic shoppers eager to secure the best deals and begin their holiday preparations in earnest.

A Global Phenomenon

What started as a U.S.-centric shopping day has evolved into a worldwide tradition. Retailers and shoppers across the globe now embrace Black Friday for its unparalleled offers on everything from electronics to fashion, beauty products, and more.

Curious about how this shopping tradition began? Let’s explore its origins!

What is Black Friday?

Black Friday is an eagerly anticipated global shopping event characterized by massive discounts, exclusive deals, and enthusiastic crowds. Observed annually on the day following Thanksgiving in the United States, it signifies the beginning of the holiday shopping season.

Retailers regard it as a pivotal day, often generating a significant portion of their yearly profits. For consumers, it is an opportunity to purchase everything from electronics to fashion at substantial discounts.

In 2024, Black Friday is set to take place on November 29, promising enticing offers and discounts for shoppers around the globe.

The Origins of Black Friday

Why is it Called “Black Friday”?

The term "Black Friday" has an intriguing history, evolving from chaos to commerce over time:

Philadelphia’s Traffic Woes (1960s):

Police officers in Philadelphia coined the term to describe the post-Thanksgiving crowd surge that caused severe traffic congestion. The day was chaotic, with holiday shoppers and football fans overwhelming the city, leading to the unflattering nickname “Black Friday.”

Retail Profits (1980s):

In the 1980s, retailers embraced the term, connecting it to profitability. Businesses traditionally recorded losses in red ink and profits in black. The post-Thanksgiving shopping frenzy often marked the turning point, pushing annual accounts “into the black.”

How Black Friday Became a Shopping Tradition

Post-Thanksgiving Shopping Boom

Thanksgiving, celebrated on the fourth Thursday of November, is a family-focused holiday. The Friday after became a convenient day for many workers to shop, leading retailers to introduce special promotions and discounts.

Retailers Driving the Trend

By the late 20th century, stores like Macy’s and Walmart began offering early morning openings and "doorbuster" deals. This transformed Black Friday into a highly anticipated shopping day.

Global Popularity

The digital era and globalization extended Black Friday's reach beyond U.S. borders. Today, countries such as Canada, the UK, and India celebrate the event, customizing deals for local shoppers.

The Modern Black Friday

Black Friday has grown beyond a one-day event, adapting to modern shopping trends:

Cyber Monday:

The Monday following Black Friday focuses on online shopping deals, catering to tech-savvy consumers who prefer digital purchases.

Extended Sales:

Many retailers now offer Black Friday deals throughout the week or even the entire month of November.

Worldwide Appeal:

The tradition has gained traction globally, with local adaptations making it a significant shopping day in various countries.

The Impact of Black Friday

For Shoppers

Black Friday allows customers to purchase premium products at unbeatable prices, making it an ideal time for holiday gift shopping.

For Businesses

The event is crucial for retailers, often accounting for a large share of their annual revenue. Black Friday is a key period for boosting profits and clearing inventory.

Cultural Phenomenon

Over the years, Black Friday has become a cultural spectacle, with midnight openings, long lines, and viral videos of enthusiastic shoppers.

Final Thoughts

Black Friday has transformed from a chaotic day in Philadelphia into a global shopping extravaganza. Its success highlights the power of discounts and the universal love of a great deal. Whether shopping online or in stores, Black Friday 2024 promises exciting opportunities for bargain hunters and a significant economic boost for retailers.