Black Friday is upon us once again. The infamous day of ludicrous price cuts and bargain deals on things you never wanted in the first place!
In honour of Black Friday, here are seven facts you might not know about this day of wild overconsumption.
1. The term Black Friday originally referred to a Stock Market Crash:
The Term Black Friday has its origins not in cut-price shopping, but a financial crisis. Namely the US Gold Market collapse of September 24, 1869. Two Wall Street Financiers colluded together to buy up as much Gold as they could with the intention of massively inflating the price and then selling it for huge profits. Unfortunately for them, and everyone else, their plan failed and instead sent the stock market into collapse.
2. The Philadelphia Police were behind the naming of the shopping Day:
The modern iteration has its roots in 1950’s Philadelphia. Following Thanksgiving, retailers in the city would hold huge sales to capitalise on the large crowds who were there ahead of the Army/Navy football game taking place on the Saturday.
The huge crowds caused havoc for police and forced them to work tough extra-long shifts, resulting in them dubbing the day Black Friday. Both to express their dislike of the day and to try and reduce visitors by making it sound less appealing.
3. The date of thanksgiving was actually changed due to pressure from retailers:
It used to be a tradition in the US for the President to declare a “day of thanks giving” on the last Thursday in November.
In 1939, the last Thursday of November just so happened to be the final day of the month. This worried retailers as they thought their profits would suffer from a shortened holiday shopping season. They petitioned President Roosevelt to move the holiday one week earlier – Which he duly did. From then on it stuck.
4. Last year’s numbers:
In 2018 the UK spent a massive £2.4 Billion. That's nearly £1.6 million every single minute!
Amazon sold 5,160 items a minute, 86 a second.
There were 13.6million social media posts throughout the day.
This year it’s predicted we’ll spend an unbelievable £4.5bn on Black Friday alone
5. Black Friday is a dangerous day:
According to Progressive Insurance, you are 34% more likely to be involved in a car accident on Black Friday.
Since 2006 there have been a reported111 recorded casualties and sadly even 10 deaths in the USA as a result of the madness inside and outside the shops.
6. Some shoppers are still feeling the Thanksgiving party:
An astonishing 12% of shoppers in the US admit to being drunk while shopping on Black Friday according to coupon site RetailMeNot. And that’s just the ones who admit it.
7. Black Friday deals may not be as good as they seem:
According to Price Comparison Site IDEALO an unbelievable 9 out of 10 products on sale on Black Friday may actually be cheaper at other points of the year.