The Friday after Thanksgiving, traditionally called Black Friday in the United States, is often referred to as the beginning of the Christmas shopping season. It is a day that millions of bargain hunters fill the stores looking for gifts and personal items that go on sale at prices far lower than they are at any other time of the year.
Some retailers offer door buster sales that draw people to their stores for that specific item. They know that once people enter the store, they will very likely buy other products as well. Some stores open as early as 4:00 or 5:00 a.m. on Black Friday and some go as far as opening at midnight and remain open until midnight the following Saturday.
Stores such as Macy's, JC Penney, Sears, Costco, Kohl's, Wal Mart, Barnes & Noble, K Mart, Target, Michaels, Old Navy, Pet's Mart, Zales, Burlington Coat Factory, Staples, Toys R Us, Home Depot, Lowes, Ikea, Best Buy, Frys, The Disney Store, GameStop, Radio Shack, and many others stay open long hours and post sales on merchandise throughout their stores starting from Black Friday all the way through Christmas and New Years.
Black Friday is appealing to both shoppers and retailers because many people have that day off as part of the Thanksgiving holiday weekend. It has become one of the busiest shopping days of the year and grows in popularity as it has become a highly advertised event.
After Thanksgiving dinner, some people immediately head to the store that is offering the bargains they want and they spend the entire night waiting for the doors to open. Others get up early on Friday morning and spend the whole day shopping in hopes of finding discounted products.
Since there are usually a limited number of certain products, they want to be the first in line, especially for the advertised big ticket items that go on sale such as big screen televisions, computers, and other high tech gadgets. But other items are heavily discounted, too. You can find bargains on clothing and shoes, cookware, toys, books, sporting goods, exercise equipment, and on many other items.
Most retail stores begin stocking up on merchandise and preparing for Black Friday months in advance. The importance of Black Friday is immense because it is the unofficial start of the Christmas holiday shopping season. The period between Thanksgiving and Christmas often determines the difference between turning a profit or posting a loss for the entire year.
Black Friday is often used as an indicator for how the rest of the holiday shopping season will go as far as profit and loss is concerned. If spending is down from previous years on Black Friday, it is usually an indicator that people are not willing to spend their money and it doesn't look good for retailers. If spending is up, it is a good sign for retailers and for the economy as a whole.
You will hear the results of Black Friday on the news. People pay very close attention to the numbers because it has an affect on retailers, manufacturers, the economy, and on you and me.