Shopping

What Is Black Friday?

Black Friday

Published on November 13th, 2020

Black Friday, which is the day after Thanksgiving, is one of the most anticipated days of every year. On this day, a variety of incredible discounts can be found in brick-and-mortar stores and online stores.

There is certainly a lot of interesting information that relates to Black Friday, which you should definitely know about to benefit from it to the max.

Noteworthy Facts About Black Friday

Black Friday is considered to be the busiest shopping day of the year. The holiday season commences on this day. Everybody is on the hunt for deals for themselves and/or others.

This season is vital for the economy. Many retailers, including jewelry retailers, look forward to this day to make numerous sales.

It was noted by the National Retail Federation (NRF) that in 2019 more than 84 million individuals shopped on Black Friday, whereas 37.8 million individuals opted to shop on Thanksgiving Day.

Over the four-day Black Friday weekend of 2019, there was a 14-percent increase when compared to the prior year, totaling 189.6 million individuals.

To the surprise of many, in this same year, the Saturday before Christmas, which is often referred to as Super Saturday, was the biggest shopping day.

Due to COVID-19, the holiday shopping season of 2020 might differ from previous years in more than one aspect.

An October survey conducted by the NRF showcases that 53-percent of shoppers will be spending more due to not going on vacation.

The NRF also found out that 44-percent of shoppers are planning to pay online but pick-up their goods in stores, even if there is free shipping available.

How Does Black Friday Function?

Black Friday

According to the NRF, 20-percent or more of annual sales for retailers come from Black Friday sales.

Retailers that sell toys and games depend a lot on this day to make meaningful profit. Some retailers opt to begin Black Friday deals right on Thanksgiving Day and continue to provide them throughout the weekend.

Throughout Thanksgiving to Cyber Monday of 2019, which is the first Monday after Thanksgiving, it was noted that shoppers spent an average of $361.90.

In 2020, it is expected that a lot of shoppers will spend almost $1,000.00 on food, decorations, gifts, and other items.