Black Friday as a term has been used in multiple contexts, going back to the nineteenth century, where it was associated with a financial crisis in 1869. The earliest uses of "Black Friday" to mean the day after Thanksgiving come from or reference the city of Philadelphia and refer to the heavy traffic on that day. In more recent history, however, Black Friday, and its online counterpart Cyber Monday, has become a day that traditionally incites thousands of consumers to stand in line for hours in advance of early-morning store openings. Some even “camp out” in makeshift recliners and sleeping bags outside of major retail locations waiting for a best buy. All of these people with one thing in mind – getting in on what is sure to be the best sale of the season.
According to John Squire, chief strategy officer for Coremetics, in an interview with The Wall Street Journal, "We see a lot of retailers looking at what happened last year and they are starting to roll out their Black Friday promotions earlier…there is a certain amount of cash and retailers want to strike early while it is still there," Coremetics gathers information about consumers' online behavior for retailers including Macy's Inc., Abercrombie & Fitch Co., Costco Wholesale Corp. and J.C. Penney Co. Retailers are again advertising aggressively as this is the second straight year, up against a relatively later Thanksgiving in 2009, with the holiday falling on Nov. 26, just one day earlier than last year and several days later than in past years, shortening the Christmas shopping season.
Will recent news and the supposed recession alter Black Friday? Will customers faced with shrinking retirement funds and job worries have the thirst, or more troubling, the financial ability to shop? Amongst the concerns of the populace, there remains a black cloud over the unstable economy; Retailers are concerned that shoppers may not turn out on Nov. 27 with the same degree of deal-hunting fervor as they have in years past on the day known as Black Friday.
Sales and profits did rise slightly this year over last year’s numbers, but it’s apparent to customers and shop owners alike that the numbers are still far below where they have been in the past. And the National Retail Federation predicts average holiday spending this year will be around $682.74, off 3% from $705.01 last year.
Black Friday may also be losing its single day appeal. Several retailers have already begun aggressive sales tactics typically reserved for the day after Thanksgiving sales as they desperately try to pull shoppers in. Could this mean that 2009 Black Friday Sales will be even better with retailers bringing in so-called door-busters, like limited numbers of very low-priced TVs or highly discounted apparel, to get customers excited? Will deal-hungry shoppers be expecting even deeper discounts? Moves taken now could help stave off some of the last minute panic seen last year -- not by shoppers, but by retailers who could, even with their slimmed down inventories, end up overstocked once the holidays end if customers don't turn out.
Indeed, one has to wonder if the increased number of “leaked” Black Friday ads online are the result of a mistake, or if retailers intentionally allowed the leaks in order to entice customers earlier on in the season, guaranteeing a better turnout in traffic and higher profits. Several websites are offering sneak peeks of the leaked Black Friday ads, such as those from Ace Hardware, Kmart, Kohl’s, OfficeMax, Staples and Target.
As in years past, shopping malls and stores will be extending hours and many stores will offer scratch cards or other promotional materials with deep discounts. Because of this, even with the staggered discounts throughout the holiday season, consumers are still likely to turn out on the true Black Friday. Shoppers are likely accustomed to the discounts they're seeing now, and because Black Friday is the 'day of all days' for discounts, they will expect more.
