Hardware Retailing

NOV 2018

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://www.hardwareretailingarchive.com/i/1043285

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Page 74 of 80

HARDWARE RETAILING | November 2018 70 Last Word A Brief History of Black Friday D o you know Black Friday's backstory? The shopping holiday's name has been connected to retailing only in recent history, when the days after Thanksgiving became some of the busiest for U.S. consumer spending, according to the National Retail Federation (NRF). Download free marketing materials at TheRedT.com/holiday-marketing to promote the benefits of shopping local for the holidays. 1869 1960s 2005 2017 1950s 1980s 2011-2016 The term Black Friday is first used when discussing hard events, dating back to stock market crashes that occurred on Fridays in 1869 and 1873, according to an article from The Atlantic. Police officers use Black Friday as a nickname to describe the day when chaotic crowds and traffic flooded Philadelphia prior to Army-Navy football games, according to reporting from the Philadelphia Business Journal. NRF begins referring to the Monday after Thanksgiving as Cyber Monday when reporting a notable increase in online retail sales that day. The name stuck and so did the popularity of the shopping day. The days from Thanksgiving to Cyber Monday have all become big for shopping, but Black Friday attracts the most in-store shoppers and Cyber Monday draws a crowd online, NRF says. Employers use the term to describe the day following Thanksgiving because employees were habitually failing to show up for work the Friday between the holiday and the weekend, The Atlantic reports. Businesses start using the name to refer to "upbeat connotations of healthy balance sheets" with the beginning of the holiday shopping season and accounts going from red to black, according to The Atlantic. In-store Black Friday traffic decreases over the years, but the day remains a major shopping event online and in stores for the holiday season, data from ShopperTrak show.

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