FIS Modern Banking Platform
Advance your bank with a modern core platform.
November 13, 2019
Are you ready for Christmas? These days it arrives earlier for retailers. This year the shopping begins seriously on 29 November.
How so? That’s the date of Black Friday, the US retail frenzy which descends on the day after the Thanksgiving holiday. This in turn is defined as the fourth Thursday in November (you can thank President Franklin D Roosevelt for that; until the 1940s it was simply the last Thursday in November). Three days later sees Cyber Monday when the whole focus shifts online.
But why should UK retailers care? Because Black Friday is now almost as familiar to UK consumers as it is to consumers and businesses in the USA. It symbolises the opening of the Christmas shopping season and to mark the occasion shoppers expect to be presented with an array of offers and discounts to lure them away from the fireside and into the shops.
Christmas shoppers spent almost £100 billion last year – and a quarter of that is estimated to be in the sales – of which Black Friday is the season’s first. 2019 will be a good year for Black Friday: coming so late in the month means many people will have just been paid so they will most likely have funds in their account allocated for spend over the Christmas shopping period.
Some stories have it that Black Friday is so called because it’s the day of the year that retailers’ finances make it out of the red and into the black.
Another version maintains the name was given by Philadelphia Police Department in despair at the traffic jams and crowds caused by Christmas shoppers on the day between Thursday’s Thanksgiving and Saturday’s traditional Army-Navy football game.
The first recorded use of the term goes back to 1869 when two investors drove up the price of gold and caused a crash that wiped 20% off the value of the Stock Market.
The average Brit gives 11 presents at Christmas but only receives seven."
Let's work together to reach your goals. Contact us at the links below and a representative will be in touch.
We are here to help you and your business. Contact us using the button below.Learn more