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Black Friday is the day after Thanksgiving and is considered one of the busiest shopping days of the year. Many stores offer special deals and discounts to attract shoppers.
History of Black Friday
The term “Black Friday” is thought to be derived from the idea that businesses lose a lot of money because of the deals they offer, but this is not the case.
The term “Black Friday” was first used to describe a financial crisis that occurred in September, specifically the collapse of the gold market in the United States on September 24, 1869. Jay Gould and Jim Fisk, two well-known Wall Street financiers, collaborated to buy as much of the country’s gold as possible in the hopes of raising its price to thousands of dollars and selling it for massive profits. However, their plan failed due to the President’s intervention.
However, the true origins of Black Friday can be traced back to the 1950s, when the Philadelphia Police Department coined the term to describe the chaos that ensued the day after Thanksgiving when hordes of suburban shoppers and tourists flooded the city in preparation for the big Army-Navy football game. Every Saturday of the year. Not only were Philadelphia police officers unable to take leave, but they were also required to work extremely long hours to deal with the increased crowds and traffic.
The phrase “Black Friday” did not come to represent a positive increase in retail sales until the late 1980s, when retailers began to spread the word about turning a profit from red to black. Black Friday was described as the day when department stores began to make a profit for the entire year, as well as the largest shopping day in the United States before spreading to the rest of the world.
Impact of White Friday on Global Markets
The National Retail Federation (NRF) estimated that 179.8 million shoppers made purchases in-store and online during the 2021 Thanksgiving weekend, exceeding the NRF’s initial expectations by more than 21 million.
According to the NRF, spending on Black Friday is expected to rise again this year, despite inflation. They expect holiday spending to rise by 6% to 8% over last year, indicating that the day after Thanksgiving may have a significant economic impact.
Black Friday is part of the holiday shopping season, and essential for many retailers, especially electronics stores. From 2017 to 2021, the holiday season accounted for about 19% of annual sales for many retailers, according to the NRF.
Many retailers open late on Thanksgiving Day or early on Friday morning. Some shoppers wait in line to get the best deals and shopping continues throughout the weekend. In 2021, for example, shoppers spent an average of $301.27 from Thanksgiving to Cyber Monday (the first Monday after Thanksgiving).
LikeCard White Friday Offers:
LikeCard is the leading platform for prepaid digital cards in the Middle East and North Africa, offering more than 3,000 prepaid cards from more than 70 brands ranging from telecom, gaming, e-services, and retail brands, and has more than 5 million users, and more than 85,000 purchase orders per day.
In cooperation with its partners, LikeCard offers a variety of offers on a large number of its cards on Black Friday, the most important of which are:
- Clash of Empire: Will offer its users twice the value of the cards purchased on Black Friday.
- Fashion Queen: Will offer its users 3.5 times the value of the cards that will be purchased.
- Landmark Group “Thank You Gift Card”: The group will offer an additional 10% bonus when purchasing gift cards during the campaign at stores in Saudi Arabia and the United Arab Emirates.
- Jawwy tv – stc tv: Will offer its users a 50% discount on classic gift cards during the campaign at all stores that offer its cards.
- VIP Baloot and VIP Tarneeb (VIP Jalsat): 30% discount on all categories of cards offered by the platform.
- Smashi: 40% additional discount on the annual subscription.
- LamsaWorld: 50% discount for 6 and 12 months for three days.
- Viu: The platform will offer a 30% discount (20% discount for previous customers + 10% additional) on cards in all countries.
- Weyyak: The platform will offer a discount of $10 to $40 on the annual subscription.
- Spacetoon Go: will offer a 63% discount: a 1-year package worth $16.5 instead of $45 for all stores except Egypt.
- Styli: The platform will offer a discount of up to 11% from November 21 to 28 for the Saudi Arabia store.
- Shahid: The platform will offer a 30% discount on all its categories in stores in Saudi Arabia, Kuwait and Lebanon.
Black Friday presents a prime opportunity for global shopping enthusiasts to snag deals on a vast array of products from major brands and retailers like Amazon. So, if you eyed a product but balked at its price, Black Friday might be the perfect time to revisit it.