Everyone gets really excited about Black Friday. Jellybeans is opening at 8am with 40% off our entire store until 11 am. Everything will be reduced 30% for the remainder of the day. But what is Black Friday really all about?
I have found two definitions as to the Black Friday designation.
In 1975, the economy was really poor (does that sound familiar), and retailers across the USA decided to post huge after Thanksgiving sales. Even though economic times were bad, it turned out to be a huge shopping day, complete with traffic jams and crowd control issues. Since then, the day after Thanksgiving has been known as Black Friday.
From a retail standpoint Black Friday may mean the beginning of the season that they go 'in the black', that is they make money. In accounting, negatives were written in red ink, while positive amounts were written in black ink. Thus, Black Friday is when the books begin to see more black ink marks then red! In other words, the profit that retailers make for the year should be the amount of their sales for the month of December.
No comments:
Post a Comment