Black Friday is here!

PUBLISHED: 24th Nov 2023

The annual sales event has arrived, and this looks to be another busy day of online shopping, (although Black Friday has been a week of offers for some companies) when most brands and retailers look to give shoppers some amazing savings. Yet many people are unaware of the phenomenon’s history and unsure about the use of the name before it became associated with the shopping craze. Here are a few facts about Black Friday 

  • The term Black Friday was first associated with the financial crisis and not sale shopping – two wall street financiers Jim Fisk and Jay Gould together bought a significant amount of US Gold in the hope of the overall price soaring and in turn being able to sell for huge profits. On Friday September 24th 1869, in what became known as Black Friday the US gold market crashed and Fisk and Gould’s actions left Wall Street bankrupt – it was not until years later that the post-Thanksgiving period became associated with the name. 
  • When shops in the US recorded their accounting details by hand they noted profits in black and losses in red. It is thought that many shops were in the red throughout most of the year, but they later ‘went into the black’ the day after Thanksgiving when shoppers bought a significant amount of discounted merchandise. 
  • Police officers in Philadelphia were first to link Black Friday to the post-Thanksgiving period in the 1950’s. Large crowds of tourists and shoppers cane to the City the day after Thanksgiving for the Army-Navy football game, creating chaos, traffic jams and shoplifting opportunities. 
  • Police officers in the city weren’t able to take the day off and instead had to work long shifts to control the carnage, thus using the term ‘BlackFriday’ to refer to it  
  • The department store Macy’s  was the first to advertise post-Thanksgiving shopping in 1924 during their Thanksgiving parade in New York 
  • Today, millions of Americans hit the shops and search websites for the best deals – this often continues throughout the weekend with offers concluding on Cyber Monday 
  • Amazon introduced this concept to the UK in 2010 
  • In 2013, Asda later held its Black Friday sale – customers physically fought over televisions and gadgets to get the best of the bargains. 
  • Black Friday has now emerged in other countries around the World  including India, France, Norway, Romania, Germany and Brazil 
  • In Mexico City they call their version of Black Friday El Buen Fin meaning ‘the Good End’ while in the United Arab Emirates the day is called White Friday 
  • The White Company are calling their Black Friday event the White Weekend this year, and I for one will be looking forward to shopping on their website 

Advice for shoppers 

It is easy to get carried away on Black Friday, so here is some advice for shoppers 

  • Set a budget and set yourself a spending limit – if something is heaving discounted, it could still be outside your budget – work out what you can afford and stick to it. 
  • Do your research – shop around to get the best price if you have a specific purchase in mind – check online for comparison prices. 
  • Look long term – in the run up to Christmas, many supermarkets put together deals where you can be offered vouchers or loyalty points for the festive season further down the line – it may be worth delaying your Black Friday spend to take advantage of this. 
  • Always stick to familiar well-known brands and pay with credit cards for extra protection, plus if you are entering personal details or card details look for the padlock symbol in the address bar 
  • Check out new retailers reviews and details before you buy. 

At David Phillip Estate agents we won’t be having a Black Friday event  - we have worked really hard on our pricing model to ensure we offer fairer fixed fee packages (not commission) to save you money and uncertainty – and also give you choice. So if you are looking to sell your home in 2024 and would like a free market appraisal (and you can’t get better value than that) call David Phillip FRICS on 01134 676 400 w: davidphillip.co.uk  a: 86, Leeds Road, Bramhope, Leeds 

Covering, Leeds, North Leeds, Bramhope, Adel, Cookridge, Pool-in-Wharfedale and Otley   

Happy shopping! 

 

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