Black Friday has become a prominent date in the retail calendar in England, marking one of the biggest annual sales events. Originally an American phenomenon linked to Thanksgiving, Black Friday has evolved into a global event, with retailers across England and Europe adopting it as a major opportunity to drive pre-Christmas sales.
This article will explore the history of Black Friday, as well as its positive and negative impacts on shoppers and retailers, and reveal the exact date for 2024.
The Origins of Black Friday
Black Friday’s roots trace back to the United States in the early 1960s, when the term was coined to describe the day after Thanksgiving. Historically, it marks the beginning of the holiday shopping season, and the story goes that retailers would go “into the black,” or start making a profit, on this day. Retailers noted increased foot traffic as shoppers flooded stores, taking advantage of promotions to buy holiday gifts. By the 1990s, large discounts became synonymous with Black Friday, solidifying it as a national shopping event in the US.
The concept gained traction internationally over the past two decades, with British retailers joining in as online shopping grew. The event was introduced in the UK in 2010, when American-owned Amazon first brought Black Friday deals to British consumers. Major retailers quickly followed suit, and by 2014, Black Friday had firmly established itself in England as retailers adopted the model to attract Christmas shoppers earlier than ever before.
The Positive Impacts of Black Friday
The growth of Black Friday in England has been largely driven by its benefits for both consumers and retailers. Many shoppers view Black Friday as an opportunity to access discounts on high-value items, from electronics and appliances to toys and fashion. In 2022, British shoppers spent over £9.4 billion on Black Friday and Cyber Monday sales combined, underscoring the popularity of the event as well as the potential savings it offers on products that may otherwise be financially out of reach.
For retailers, Black Friday is an important driver of revenue, helping to kick-start the Christmas shopping period earlier. As a competitive period, it encourages brands to attract a broader customer base by offering exclusive discounts and limited-time offers. The boost in footfall can also increase customer loyalty, as people return for additional holiday purchases after the sales. Furthermore, retailers with a strong online presence see Black Friday as a strategic opportunity to promote their e-commerce channels. For example, in 2021, online spending accounted for nearly half of the UK’s Black Friday sales, reflecting the shift in shopping habits towards digital platforms.
The Drawbacks of Black Friday
While Black Friday has been a profitable and exciting event, it also comes with significant challenges. Retailers often face increased operational costs, including additional staffing, logistics, and marketing expenses. Smaller retailers may find it difficult to compete with larger chains, as they cannot afford the deep discounts that draw shoppers in droves.
For consumers, Black Friday can be overwhelming, with discounts and promotions creating a sense of urgency that leads some shoppers to make impulsive purchases. A study by the consumer group Which? in 2021 found that 99.5% of Black Friday deals were available for the same price or cheaper at other times during the year, indicating that not all discounts are as valuable as they might appear. This finding highlights a potential pitfall for shoppers: the event’s focus on limited-time offers can lead to rushed decisions that don’t always represent true savings.
Environmental concerns are also notable. The increase in shopping, particularly online, results in higher volumes of packaging waste and delivery-related emissions. While some retailers have implemented sustainable practices for Black Friday, others face criticism for the ecological impact associated with mass consumerism.
When is Black Friday 2024?
For those planning to take part in the shopping event, Black Friday 2024 in England will fall on Friday, 29 November. Traditionally, Black Friday takes place the day after the American Thanksgiving holiday, on the fourth Friday in November. This timing makes it an ideal occasion for early Christmas shopping and allows consumers ample time to search for deals ahead of the December holidays.
In summary, Black Friday continues to be a double-edged sword for both consumers and retailers. While it offers valuable opportunities for savings and a boost in sales, it also presents challenges around sustainability, impulsive buying, and the strain on smaller retailers. As shoppers approach Black Friday in 2024, understanding these dynamics can help in making informed choices and potentially maximising the benefits of the sales without falling into its pitfalls.
