BLACK FRIDAY: GENERAL HISTORY & FACTS YOU MIGHT NOT KNOW

 

The word ‘Black Friday’ was first used in the year 1869 when two Wall Street financiers, Jay Gould and Jim Fisk allegedly conspired to buy up some amount of gold from circulation in other to cause price hike while they get to sell at ridiculously high prices. On Friday 24th September 1869, the conspiracy behind this event got exposed causing the United States stock market to crash and everyone involved on Wall Street lost their money including farmers. Since the incident happened on Friday, media outlets in the USA tagged that very day ‘Black Friday’ for the entire country.

4TH THURSDAY OF NOVEMBER

Black Friday was an unofficial name for the Friday before Thanksgiving Day in the United States of America which usually takes place every 4th or last Thursday of November. The day after Thanksgiving is believed to kick start the beginning of Christmas shopping season in the early 1950s, not until recently that the term “Black Friday” has become widely used and accepted by shoppers all around the world for the end of year’s rush.

FROM “CRISIS” TO SHOPPING MANIA

Due to the congestion and chaotic atmosphere caused by the huge number of shoppers trooping out to shop causing enormous traffic-related accidents and sometimes violence. As a result of these related problems many pedestrians and travellers in shopping centre areas usually experience difficulty in moving and navigating through the overcrowded marketplace. The phrase “Black Friday” was used to reflect the chaotic shopping period of the year.

BLACK FRIDAY OF PROFITABILITY

Many retailers in the 50s rejected the way many media outlets back then perceived the Black Days to be a period of chaos and disorder. These retailers believed the period is the day for successful sales and profitability. They also believed that for them to make more profits, they needed to encourage potential shoppers to shop more by offering them mouthwatering deals and discounts only on this special day.

ADVENT OF E-COMMERCE

Black Fridays are no longer as chaotic as they used to be some decades ago, thanks to the emergence of different e-commerce sites and online malls where millions of active Black Friday shoppers can easily shop a wide range of items online without leaving the comfort of their homes or offices and have them delivered right at their doorsteps.

HOMELY BLACK FRIDAY HISTORY

Since it was founded in 2010, Homely has always been part of the Black Friday celebration and during this period we give out discount up to 20%  on ALL items. (That’s a big deal right? Yeah we know.)

By Lateef Salami | | 0 comments
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