Is Black Friday Still A Big Deal?
Yes, of course, Black Friday is still a big deal.
In fact, I will show you, how and why, it is a big deal for these three groups of people:
- For shoppers or customers
- For merchants or businesses
- For governments
1. Black Friday Is A Big Deal For Customers
Black Friday falls on the first Friday after Thanksgiving or the fourth Friday of November.
People in many countries, such as the United States see it as the beginning of the shopping season for Christmas.
People wait for months for this special shopping day so that they can get better deals at discounted rates.
Sometimes it feels dumbfounded but some companies and stores provide up to 60 percent of discounts on their products on this day.
In the United States, Black Friday is nothing less than a festival, people are crazy about it.
They wait in front of stores (like Walmart, Macy’s, and Sears) for hours on this day, some even from midnight in the cold of November to grab the best deals.
So, it definitely matters for customers. Even its popularity getting bigger and bigger each year.
2. It Is Big Deal For Merchants or Businesses
Black Friday is again a big deal for businesses, no matter if are they small, medium, or large.
They try to get more and more benefits out of this day.
To lure customers, large companies like Walmart, Amazon, eBay, and Macy’s provide crazy discounts on their products. These companies make multi-billion dollars of transactions on this single day.
Even, companies like Amazon.com launched Black Friday sales in July 2015. Although the concept was the same, they named it “Amazon Prime Day”. You can understand Black Friday’s importance from this single initiative by this Internet giant.
Black Friday is actually an American idea, but in the present day, companies all over the world start adopting it to get their businesses to grow.
3. Black Friday Is A Big Deal For Governments
The more money people spend on buying goods, the more revenue governments generate via taxes.
Nowadays, Black Friday has become a day of a cash cow for governments.
Apart from the United States, we see capitalist nations like Germany, the United Kingdom, Australia, France, Japan, and India starts promoting it.
Even, in the United States, more than 22 states observe it as a state holiday. Here, the day is also extended to six more days with various names.
For example, the first Monday after Black Friday is called “Cyber Monday”, which promotes online shopping.