Black Friday and the savings/sales that come with it are the combination that consumers and retailers alike mark in the calendar year. For consumers, it represents an opportunity to pick up the best offers that retailers can muster, while retailers see their sales figures spike. Black Friday deals and Black Friday sales have birthed the concept of Cyber Monday, almost like an online sister to Black Friday’s brick-and-mortar beginnings.
The term “Black Friday” was first coined by Earl Apfelbaum (his name literally translates to “Appletree”) in 1966. Appletree noted that Philadelphia police called the day Black Friday due to the massive amounts of traffic, both vehicular and pedestrian. It was originally assumed that Black Friday meant the day that companies started to see profit for the financial year, hence going from red into the “black”, but there isn’t any evidence for this.
Black Friday’s cultural impact has spread from its American roots, with £1.4billion spent by UK consumers in 24 hours in 2017, and 30% of annual retail sales occurring between Black Friday and Christmas. The rise of the modern Black Friday phenomenon has seen a year on year increase in spend since 2002, with the only exception being 2007-2008 where there was a 4.6% drop.
I can’t really recall the exact time that I realised Black Friday was a thing. I just remember everyone looking forward to one specific day in November, then as I transitioned to adulthood I became intrigued around the same time as everyone else. Unfortunately, the way my bank account (or more to the point, the lack of anything in my bank account) is set up means that I can’t indulge in spending.
You may be wondering what all of this has to do with online training. Well, e-Careers are also taking part in the Black Friday madness and offering up to 70% on selected courses until the end of Cyber Monday. Click here to find out more.
Bit of a hint - that exclusive deals page has deals on it all year round, so make sure you check back regularly!