Back in the 1920s, Macy’s department store started advertising holiday sales during its annual Thanksgiving Day Parade in New York. Little did anyone know that the day would evolve to become the unofficial shopping holiday. The term ‘Black Friday’ was coined several years later in order to mark the start of the Christmas shopping season. ‘Black’ refers to stores moving from ‘red’ to ‘black’, which in accountant’s language indicated profit instead of a loss.
As years went by, retailers realized that Black Friday does even better in drawing crowds than the last minute Christmas deals. Companies have developed different approaches and most of them have expanded to online shopping too. The goal, however, remained the same – to entice shoppers!
Consequently, the number of Black Friday enthusiasts and bargain hunters grows with each year. Just to get you some perspective – in 2016, a total of 137 million people went to stores over the Black Friday weekend which is a third more than the 102 million in 2015. If this sounds crazy, wait until you check all stats from this shopping.fm infographic!