Black Friday 2024: Why Is It Celebrated? History, Significance and Cultural Importance

Black Friday 2024 falls on November 29, and Thanksgiving falls on November 28. This major shopping event in the United States starts the holiday shopping period. It is meant to attract people with massive discounts on retail goods during this time of the year.

Significance of Black Friday

Black Friday has become one of the year’s busiest shopping days. This day is typically associated with large discounts from retailers, resulting in high consumer spending. For this year, estimates project that the holiday season could yield $989 billion in total retail sales, with consumers planning to spend an average of $771 per person3. The day is crucial for retailers as it can significantly impact their annual sales figures, often accounting for nearly one-fifth of their total sales.

Why Is It Celebrated?

The term “Black Friday” originated in the mid-20th century, primarily in Philadelphia, where police were using it to describe chaotic crowds and heavy traffic flooding the city as shoppers streamed into stores following Thanksgiving. Initially, it had a negative connotation because it was a challenging day for law enforcement. However, over the years, retailers re-defined the term to reflect a positive outcome: moving “into the black,” which in accountancy terms means profitability in terms of businesses wanting to increase their sales figures within this critical period.

Cultural Importance

Black Friday has become an event that is beyond a day of shopping. Now it is a social happening, where friends and their families go out to do their shopping. The term is synonymous with consumerism, and it is something to kick off the beginning of holiday celebrations. Just within the last few years, the event has gained popularity worldwide, so even countries that do not have Thanksgiving are now using such strategies.

Shopping Trends and Deals

Sales will be cut across the following major categories: electronics, clothing, toys, and household items. This will mostly be the electronics area. Discounts on electronic items like TVs and computers are expected to range between 30 percent and 50 percent. Some shops will sell over Cyber Monday to make it “Cyber Week,” and online buying goes on throughout the week.

Black Friday 2024 shall be a major event in retail calendars, with deep cuts and a focus on great in-store and online experiences.

Also Read | What is Thanksgiving? Check Its History, Significance and Trivia
Also read | 10 Simple and DIY Thanksgiving Decorations Ideas for You in 2024