“Definitions of Black Friday
1. On 24 September 1869, US financial markets crashed following a failed attempt by traders to corner the gold market. This led to a depression.
2. In a more general sense, is used to represent a Friday in which a public disaster or calamity occurs.
3. More recently, the term Black Friday has been used by retailers in the United States (and is growing in usage by retailers in the UK as well) as a positive. It represents the starting day for End of Year and Christmas shopping. This is usually after the Thanksgiving Holiday season in the United States in which retailers make enough sales to forecast that their annual results and profits are positive ie in “the black.”
Corporate Finance Consultant, DHUA Ltd
Isn’t it interesting to see how the term Black Friday has been turned from a negative to a positive?
In the United States it has long been used as encouragement for retailers who see their huge sales as customers stock up on gifts, food and other entertainment ahead of the End of Year and Christmas holiday season.
We tend to ask: ‘Well, if the retailers are ‘in the black’ then customers help them get there by running around getting more at risk of going ‘into the red’ by over spending, maxing out the credit cards or buying masses of stuff on Storecards?
Remember, the turkey is just for Christmas, that store/credit card bill and loans will all last a lot longer and cost a lot more.
Some tips for enjoying the festive season without giving your financial spending plans indigestion:
- Why not wait until after the festive season to pick up bargains in the New Year Sales
- Only buy what you need, not what you want (or everything you see), for the festivities
- More and more people are trying their hands at hand-crafted gifts. If you have a talent and passion for this, why not start now and create unique gifts instead of mass produced, shop-bought items?
- Bulk purchase retailers can offer bargains – buying in bulk with other shoppers in your family/ friendship circles can really cut down the cost of individual items
- Discount stores offer great purchases at great prices and are always worth a look
Whatever you choose to do keep your head around all this Black Friday buzz and plan for a wonderful festive season!
Onwards and upwards