HISTORY OF BLACK FRIDAY

We are down to that part of the year where nearly everyone talks about the popular phrase “Black Friday”. For some people this doesn’t move them off their seats while for others, this actually is ‘Christmas coming early’. Some may ask, what is Black Friday? How did it originate? Why is it even labelled black? What happens on that day? Well then, follow me as I give you an answer to your questions.

HISTORY OF BLACK FRIDAY

black friday history

Black Friday is that part of the year when retail stores, give mind blowing discounts for their products. For instance, a Laptop which would sell for #100,000 at any other time of the year can be sold at #50,000 on Black Friday. Black Friday actually originated in the United State, it is the Friday after the fourth Thursday of the month of November (which is Thanksgiving Day). Though originated in US, countries around the globe are beginning to adopt this idea.

Black Friday from its onset was meant to last through the weekend which is a 4-day span but in recent of time, retail stores extend such promotional sales through the months of November and sometimes December. It quite arguable as to how such a Friday got itself labelled ‘Black’ because some people claim it was in 1869 when a set of wall street business men led by Jim Fisk and Jay Gould tried to dupe the United State Government in Gold deal, unfortunately things didn’t turn out well and so a lot of people lost and some gained. Some say it is because a whole of retail stores who have red balances (loss) throughout the year use that time as a period to turn their red balance into Black. However, the most logical and well recognized origin dates back to 1961 where the Philadelphia Police department labelled it black Friday because on that day the entire city will be traffic jammed by both pedestrians and vehicles.

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BLACK FRIDAY IN NIGERIA

Like every other country, Nigeria is gradually following the black Friday trend even though it is not widely practiced by retailers in Nigeria. Very few retail stores such as Jumia, Konga, Shoprite, Spar, Market Square, etc observe Black Friday. However, in 2013 November the first black Friday sale happened in Nigeria and ever since then thousands of Nigerians have benefited from it as it keeps getting better.

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Tip: This year Jumia have made their black Friday offers more interesting by introducing the ‘Treasure Hunt’ pack where you can stumble upon certain products in an entirely different segment for a relatively cheap price. What I mean is this, while browsing through their jewelry collection you may be lucky to see an iPhone for a discounted price of #10,000. Sounds crazy right? But hey, It’s Black Friday.

Well, by now you should have an insight as to what happens on Black Friday and why people anticipate it with eagerness. So you can join the trend and benefit as well… HAPPY BLACK FRIDAY





Updated: November 8, 2018 — 10:31 am

The Author

Avwerosuo

Accountant by Profession, writer by Passion.

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