Unless you have been living in a cave without an internet connection for the past few weeks, it is unlikely that you have not come across ads from retail companies advertising their Black Friday sale. So, what is Black Friday sale and where did it stem from? Today, we will dive into the topic of it.
What exactly is Black Friday?
Black Friday is the term used to describe the day after Thanksgiving, which is a festival held in the United States of America to celebrate the harvest festival held in 1621. It is one of the biggest shopping festivals in the year (Yes, it is even bigger than 11.11 or 12.12 sales). According to market research, American shoppers spent over 700 billion USD in a time frame of 24 hours by shopping on Black Friday in the year 2019. However, due to the bad economic situation this year in 2020 caused by the COVID-19 pandemic, it is hard to predict how good the sales will be.
Why is Black Friday important?
Black Friday is essentially the early part of the holiday shopping season. This means having a huge Black Friday sales is important for many shoppers because they can get a huge amount of items that are for giving away for a cheaper price. On the other end, having a successful and profitable Black Friday is also crucial for retailers. The National Retail Federation estimates that the holiday shopping season amounts to 20% of most retailer’s annual sales.
What websites have huge Black Friday sales?
Most retailers nowadays have their own websites and do hold Black Friday sales on them. However, some of the huge and well-known retailers that do hold Black Friday sales are Amazon, Shopee, Lazada, Zalora and so on.
How much money can you save on Black Friday?
Often times, Black Friday sales have the best deals for items year-round. However, it is smart to double check the prices on items by googling it up to find the best deals from different sites and tracking the item’s previous prices before the sales started.
TL;DR. Just tell me, is Black Friday the best time to be buying items for the holidays?
Yes. At least, most of the time. However, it is good to note that in the unfortunate event that you missed out on a certain deal for an item you want, don’t worry as chances are the item will go on sale again during the days leading to Christmas as retailers want another huge influx of shoppers.
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