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What is Black Friday?

 

The Day After Thanksgiving (Friday) is known as Black Friday. This used to be unofficially or officially the start of holiday shopping season. Almost all stores come out with Doorbuster Sales with the early bird special to attract consumers to their shop. People stand in line hours before the stores are opened, to grab the bargains of the year. In last few years, we have witnessed a trend towards bringing those Black Friday Sales online before Friday.
Black Friday is no more a one-day event

In last few years (starting from 2013 to be precise), Black Friday Sales have started way before Friday-with some stores starting their Black Friday sales on Thanksgiving day & some even starting on Wednesday and Monday. It would not be surprising to see Black Friday sale starting on Monday on the Black Friday week. As a result, revenue-wise Black Friday is NOT the biggest day for stores. Biggest sales day now include Thanksgiving day, Green Mondayand Cyber Monday.

Why it is called Black Friday?
Closest reason as to why it is known as Black Friday is given in Wikipedia – “Many retailers report some of their highest profits on Black Friday. The black portion of the name, “Black Friday” relates to businesses recording their losses in red ink and gains in black. This tradition lives on in modern accounting software, hence the name.”. The term Black Friday got traction with the Internet. Deals websites like start to highlight “Black Friday sales” from 2003 and the retailers picked it up. Essentially, Black Friday is an Internet term. Prior to it, people used to refer the sales as ‘Day after Thanksgiving Sale’ or some variation of it.

So When is Black Friday?
Friday, November 23th, 2018

When do Retailers Officially Publish their Advertisements?
Most ads are published in the newspaper on Thanksgiving Day. (The day before Black Friday). But more recently, many stores are starting to publish their Black Friday Ad early in November or sometimes they leak it even in October. Some stores then have additional black Friday doorbuster items that they only reveal on their website.

Are there black Friday sales online?
Most Black Friday Sales go online when their Black Friday store sales start. As we pointed out earlier that many stores offer their Black Friday Sale online – before Black Friday. However, Some in-store only Black Friday deals from few stores, may not be available online. Many of such Black Friday like or even better than black Friday deals can be found.

Are Banks Closed On Thanksgiving?
Yes, Thanksgiving Day is a Federal Holiday in the USA. Because of this, most banks are closed on Thanksgiving Day.

Are Banks Open on Black Friday?
Yes, Black Friday is NOT a Federal Holiday in the USA. Most banks are open on Black Friday. Though Black Friday is an unofficial shopping holiday, some financial institutions might be closed on Black Friday to allow their employees a long weekend off.