Black Friday – The busiest shopping day of the year

Black Friday is the official start of holiday season shopping, the day after thanksgiving in America which falls on November 29 this year.

This day is the start of Christmas shopping in America and is the busiest shopping day of the year.

Many stores offer great discounts that start as early as midnight or even on thanksgiving and continue until the Monday or for an entire week.

While everyone enjoys the day shopping for Christmas, many people don’t know about the day’s origin, its history and its impact nationally and internationally.

The term Black Friday originated during the 1960s to describe the chaos and traffic caused by hordes of shoppers flooding shops.

Black Friday 2024

This year, Black Friday falls on November 29, the last Friday right after Thanksgiving day.

Many shops give large discounts like:-

·         Kohl – 70% 

·         Home Depot – 40% off tools and appliances

·         Target – discount on furniture, Christmas décor, tech and clothing

·         Walmart – Varying discounts on various products

·         Lowe – 40% off appliances, 20% off on Christmas décor

Impact of Black Friday on local businesses

Many small, local businesses use this day as an opportunity to promote their products and services using great discounts.

But, with the dominance of e-commerce like Amazon, eBay and Shopify, it gets challenging for local businesses to compete and make profits.

To stay in game, these stores need to provide high discounts, unique items or personalized services for a better shopping experience and to build a loyal consumer base.

Economic Impact of Black Friday

An average person spends around $380, $7.4 billion on online shopping on average, and $50 billion in total during the 3-day Black Friday.

Retail sales boosts and businesses make profits during Black Friday and creates employment opportunities.

Black Friday’s impact on environment

A surge in online shopping is seen during Black Friday that leads to increase in carbon emissions, packaging waste and energy consumption.

Consumers also buy products not really needed under the influence of discounts and such products usually ends up in landfills.

The fashion industry’s involvement in Black Friday has caused the issue of fast fashion, leading to textile waste and pollution.

Global Adaptations of Black Friday

• India – Online retailers give black Friday style discounts like Amazon’s "Great Indian Festival" and Flipkart's "Big Billion Days".
• Canada and UK – Both the countries have adopted Black Friday with many retailers giving significant discounts on products and services.
• Pakistan – Black Friday was changed to ‘Blesses Friday’ for some religious reasons.