It is believed by many that the term Black Friday derives from the concept that businesses operate at a financial loss, or are “in the red,” until the day after Thanksgiving when massive sales finally allow them to turn a profit, or put them “in the black.”
Black Friday is still the best day for deals on TVs, tablets, appliances and jewelry.
The days from Thanksgiving through Cyber Monday capture 20 percent of all holiday online shopping.
Amazon and Walmart are expected to dominate online sales. While the No. 3 spot is still up for grabs between Best Buy and Target.
On average, shoppers will wait 2.5 hours in line for a deal.
The average shopper spent over $900 in 2021 on Black Friday and expected to spend nearly $1,000 this year.
Black Friday sales declined only once in recent years. It was 2008 during the Great Recession. Only 263,820 seasonal workers were hired in 2008 – staggering low compared to the record 764,750 workers hired in 2013.