Black Friday is the
day after Thanksgiving, November 27, 2015. It's traditionally the busiest
shopping day of the year and kicks off the busy holiday season. The
holiday shopping season is critical for the economy because around 30% of
annual retail sales occur between Black Friday and Christmas. For some
retailers for example jewelers, it's even higher, nearly 40%. Black
Friday is set to become the biggest day of shopping in Britain, with as
much as £2bn spent in shops and online in the space of 24 hours. Yet five
years ago the shopping event known for its violence in people fighting
for purchases didn’t even exist in the UK. Black Friday is
a US shopping tradition exported across the Atlantic by companies such as
Amazon and Asda. Until 2010, the closest UK shoppers got to Black
Friday was TV news coverage of the queues at shops across the US.
Black Friday is named
as some claim it relates to the fact it is the day when retailers turn a profit
for the year and move into the black, while others claim it relates to the
markdowns on shop prices. Until 2010, the closest UK shoppers got to Black
Friday was TV news coverage of the queues at shops across the US. Visa
Europe predicts that shoppers will spend £6,000 per second on the
day. Most retailers are now stretching it into the following week,
at least until Cyber Monday. That’s the day after the Black Friday weekend when
shoppers are supposed to go crazy online.