It’s not the busiest shopping day of the year. The Saturday before Christmas is!
According to a 2009 article published in TIME magazine, the phrase “Black Friday” was first used in the 1960s by Philadelphia newspapers referring to the huge rush of crowds to stores on the day after Thanksgiving.
The current “Black Friday” term first became used widely in the 1990’s and refers to retailers reaching profitability or in the black – black ink, as opposed to losses which were originally recorded in red ink.
Not all the best deals are offered on Black Friday:
a. Most deals for electronics are offered at the beginning of November.
b. The best day to save on Christmas decor is November 22. Discounts are 23 percent on average.
c. The best day to buy toys is the day before Thanksgiving.
d. Many online sales discounts are better on Thanksgiving Day for items such as sporting goods and apparel. The average discount is 24 percent.
e. If you dare to wait, the last few days of the shopping season often advertise products 10 to 15 percent cheaper than on Black Friday.
Black Friday is still the best day for deals on TVs, tablets, appliances and jewelry.
The days from Thanksgiving through Cyber Monday capture 20 percent of all holiday online shopping.
For 2017, Amazon and Walmart are expected to dominate online sales. While the No. 3 spot is still up for grabs between Best Buy and Target.
On average, shoppers will wait 2.5 hours in line for a deal.
The average shopper spent over $900 in 2016 on Black Friday and expected to spend nearly $1,000 this year.
Black Friday sales declined only once in recent years. It was 2008 during the Great Recession. Only 263,820 seasonal workers were hired in 2008 – staggering low compared to the record 764,750 workers hired in 2013.