Myths and Facts about Black Friday

Elmira | 24 - 11 - 2020
Black Friday

Black Friday was introduced to create excitement among people during the Holiday Shopping. People prepare their shopping list before one week for this big day. If you are the one, you planned to shop on Black Friday, read on to these Black Friday facts and also learn these Black friday shopping facts that make your shopping easy and convenient.

 We have put together a few myths and facts that may surprise you and may change your thought about Black Friday and learn the truth behind Black Friday.

How Was Black Friday Invented?

 At first, the term “Black Friday” was not recorded as holiday shopping; it was actually referring to the financial crisis that occurred in the USA gold market on September 24, 1869. Two Wall Street financiers, Jay Gould and Jim Fisk did business together, bought much gold by hoping the price would rise and they could sell them for profits.

In Which City Black Friday Originated?
  • A. Chicago
  • B. Seattle
  • C. New York
  • D. Philadelphia

 In the 1950s, in the city of Philadelphia police used the term to describe the heavy pedestrian and vehicular traffic that occurred on the day after Thanksgiving, where the crowd of suburban shoppers and tourists flooded into the city in advance.

 Until the 1960s, this term wasn’t used; retailers have been trying to encourage people to shop the Friday after Thanksgiving since the 19th and early 20the century.

 Black Friday History Myths and Facts

 Myth: Black Friday Was Introduced after the 1929 Stock Market Crash.

The actual stock market crash was recorded on a Tuesday in 1929 that was called Black Tuesday. Later, in1869 there was a stock market scare that was recognized as Black Friday. These two seem totally inappropriate to what we know about Black Friday the day after Thanksgiving.

 Fact: 151 Million People Purchased Black Friday Deals in 2015

 As reported by CNBC.com 151, million shoppers purchased from the Black Friday Deals.

 Myth: Black Friday Deals Are Better Compared to Other Deals throughout the Year.

 It is not true. Not only on Black Friday, but you can also find exciting deals throughout the year. According to Dealsnews.com, “With sales starting earlier thanks to the Black Friday creep, there are more and more “filler” deals. The truly awesome bargains are there to give buyers a shopping high, and try to persuade them to buy more things — at a hefty markup.”

 Fact: There Have Been No “Cyber Monday” Related Deaths, Says blackfridaydeathcount.com.

Yes. The online purchase makes your shopping comfortable and convenient and you can avoid the crowd.

 Myth: Black Friday Is Known as the Busiest Shopping Day of the Year.

 Surprisingly, Black Fridays offer a huge profit to retailers. But according to BloombergGadfly, Saturday before Christmas is the busiest shopping day also known as Super Saturday.

 Fact: Shopping on Black Friday Can Be Hazardous

 A website named blackfridaydeathcount.com that records the number of deaths that happened due to Black Friday shopping. The site reported seven deaths and 98 injuries from 2006 to 2014.

 Myth: Advertisement Reveals the Deal.

 Fact: No. Not all the retailers expose the deals and discounts through advertisements.

Related Quiz Test Your Knowledge
more
Read Next