Black Friday is a big deal. This and much more will be clarified by us. Find out more about Black Friday history, how to be more confident with holiday shopping, and how you can cash in on the best deals. This is the truth about Black Friday and the nine myths that surround it.
Black Friday Evolution: Common Misconceptions
Many people are unaware of the origins and significance of Black Friday. The most common myth is that Black Friday was named after the 1869 stock exchange scare. However, this is not related to the shopping event. Many believe that it was named after the 1929 stock exchange crash. This happened on a Tuesday and is also known as Black Tuesday.
Most shoppers view Black Friday today as the day when retail stores become “the black.” This refers to the black ink on financial documents that indicates profit, unlike red ink which can indicate profit losses. Although many retailers are profitable on Black Fridays, this is not how the holiday started. How did Black Friday get its name and when did it begin?
Origins and Name: What is Black Friday called?
Black Friday’s origins can be traced back to Philadelphia in the 1960s. Every year, large crowds and traffic flooded the city on Saturday after Thanksgiving to witness the Army-Navy football match. Police officers and sales staff began to dread the day before the game so much that they called it “Black Friday”. The overcrowding of the city caused traffic chaos, congestion in retail stores, and an increase in theft and accidents.
The name “Black Friday” has acquired a negative connotation over the years. The city attempted to reverse the negative connotation by changing the name to “Big Friday”, but people had already absorbed the original name. Retail stores were forced to work longer hours as the tradition of shopping on Black Friday continued. To maximize profits, they started to offer Black Friday sales events.
Black Friday was no longer something to be afraid of, but a novelty in the 1980s. Eventually, retailers began to run Black Friday ads ten years later. The event has since evolved into the modern shopping event it is today. This retail phenomenon has been replicated in many other countries such as Canada, Germany, China, and Brazil.
Myth #1: Black Friday deals begin before Thanksgiving and continue past Black Friday
Fact/Fiction Fact
Many people believe that Black Friday deals are only available on Fridays after Thanksgiving. Business Insider says that Black Friday sales start several weeks prior to the day and last for one week after Cyber Monday. According to them, online retailers began offering the best discounts for 2021 in October. Each retailer has its own date for when the best deals will take effect. However, in today’s retail environment it is earlier than ever. Follow your favorite stores on social media or subscribe to their email to know when they are available. You’ll be sure to not miss any of the events.
Myth #2: Doorbuster sales offer Black Friday the best deals
Fiction: Fact/Fiction
In the past, doorbuster sales were widely advertised by retailers as the most significant savings event of the year. This encouraged riotous behavior, which forced shoppers to come closer together to compete for limited quantities of deeply discounted merchandise. Black Friday in coronavirus could have marked the end of this tradition. Doorbuster promotions seem to be disappearing.
Instead of restricting savings to one day while stocks last, retailers now offer discounts over several weeks. They also offer pickup options and encourage staggered shopping to reduce congestion in stores during holidays. This not only increases their sales but also makes it easier to save money and do so safely.
Myth #3: Black Friday is not the best day to buy everything
Fact/Fiction Fact
All types of merchandise are on sale on Black Friday. Even luxury-branded items. You can save up to 50% on certain items. data suggests Black Friday deals that offer average savings of 37% Black Friday isn’t always the best day to shop for everything you want. RetailMeNot’s sales analysis over the past few years shows that there are some items that are more reliable to buy on Black Friday than others.
- Computers
- Tablets
- Smartwatches & fitness trackers
- Laptops
- Small appliances
- Small gadgets for the home
- Wireless earbuds
- Video games
- Linens
However, furniture, clothing, and the latest game consoles may be less expensive than they are at other times of the year. You should always keep an eye on social media and subscribe to email newsletters for specials on specific items.
Myth #4: Black Friday poses a danger to your safety and health
Fiction/Fact: Most fiction
According to the Black Friday Dead Count, 14 deaths and 117 injuries have occurred in the world over the past 15 years. These events are shocking and tragic, but they are rare.
Remember that these events are rare and often get covered in the news. You are statistically more likely to be struck by lightning. Black Friday is safer thanks to COVID guidelines. Doorbuster events are now a thing of the past.
You can still shop on Black Friday if you are concerned about safety. Wait until the end of the day to go out after the crowds have dispersed. You can also shop online for the best deals from the comfort of your home.
Myth #5 – Not all Black Friday deals advertised
Fact/Fiction Fact
Advertisement of all deals is not always in the best interest of a retailer. A seller can keep certain discounts off of their ads and still beat their prices. This is not a common practice, but it is worth checking the ads to see what promotions are available. You can compare the prices of different stores to find the best deal.
Myth #6: Cyber Monday is more profitable than Black Friday in terms of online sales
Fact/Fiction: Fiction
Because Cyber Monday events are exclusively available online, it is reasonable to expect that they will outsell Black Friday events. Retailers have started to offer Black Friday sales online, just like they do in-store.
According to the National Retail Federation, Black Friday was a bigger shopping day in 2019 than Cyber Monday. And 2021 is expected to be just as busy. BlackFriday.com conducted a survey among 1,000 shoppers. It found that 52% were “… very or somewhat likely to shop Black Friday sales events in stores or online. Cyber Monday is expected to set a new online shopping record at 61%. These days, Cyber Monday and Black Friday are both very popular with online shoppers.
Myth #7 – It is often more difficult for Black Friday shoppers to return their items
Fact/Fiction Fact
Make a list of all the things you wish to purchase before you go shopping on Black Friday. This will help you be more confident about your purchases. It may not be possible to return items you have bought too quickly or outright. Some retailers may not allow returns during the holidays. They might only give store credit if you present a receipt. To ensure that the gift recipients have access to store credit in the event of a return, make sure you get a receipt for all purchases.
Myth #8 – It is always better to wait until Black Friday before starting your holiday shopping
Fact/Fiction: Fiction
It’s risky to wait until Black Friday when COVID is in full swing. We know from experience that supply chain disruptions and crises such as COVID-19 can disrupt product availability. So if you wait until Black Friday, it’s not likely that all the items on your shopping list will be in stock.
BlackFriday reports that 66% of shoppers will start their holiday shopping early this year. We recommend that you do the exact same thing, leaving only a few higher-dollar purchases for Black Friday. This way you can save money where it is most important and be ready for anything.
Myth #9 – Black Friday deals can’t be price-matched or used coupons
Fiction: Fact/Fiction
You might be wrong if you believe you cannot price match or use coupons for Black Friday as the prices of the goods are already at their lowest. Black Friday is a day when some stores will match the lowest price offered by another store on a particular product. You should bring the sales ads along with you to Black Friday so that you can get the best price on as many items as possible. If your purchase is within the conditions of the coupon, some stores will allow you to use multiple coupons simultaneously.
How Black Friday may look like Moving Forward
You may be curious about what the future holds for Black Friday.
Based on the projections of The Future in Customer Engagement and Experience, we believe that Black Friday shopping will become easier. Retailers are offering “buy now, buy later” options, free shipping and delivery, as well as pickup. These options allow shoppers to take advantage of Black Friday sales even when they are unable to travel or have limited budgets.