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Whether Amazon, Manor, Mediamarkt or Fust: On November 24, retailers are offering huge discounts. Then “Black Friday”. But: What exactly is “Black Friday” all about? Answers to the most important questions.
Where and when was Black Friday invented?
Black Friday is coming from the USA. In the beginning, the aim was not to spend money while shopping, but to burn money in the stock market.
September 24, 1869 went down in history as Black Friday. At that time, two American speculators increased the price of gold. The decline was deep: Shares on the US stock market lost nearly a fifth of their value in one day.
The term originated in Philadelphia, USA, in the 1950s. Police officers had to work overtime to manage the crowds that flocked to the city to sightsee and shop on the Friday after Thanksgiving.
The Thanksgiving holiday, which has always been celebrated in the United States on the fourth Thursday of November, quickly turned into the beginning of long weekends. To avoid having to work four days in a row, more and more Americans have started taking the Fridays after this Thursday off or off. Retailers adapted to this situation and started attracting customers to their stores with discounts on Fridays.
What is the history of Black Friday in Switzerland?
Thanksgiving is not celebrated much in Europe and Switzerland. In addition, we will be offering heavy discounts on all kinds of products next Friday.
There were some limited Black Friday offers in Switzerland a few years ago. But at the end of November, it was only the Manor store chain that launched a large-scale sale on Friday. In 2015, he brought “Black Friday” to Switzerland. With economic success.
Other Swiss traders saw this too. The following year, Black Friday was held in Coop, Media Markt and Interdiscount, as well as in various department stores. Discounts were also made in Migros Aare, Lucerne and Ticino. Migros’ subsidiaries Melectronics, Digitec and Galaxus are the same way. Black Friday now has a permanent place in the Swiss shopping calendar.
What does Black Friday bring economically?
Billions of dollars are sold on Black Friday in the USA. However: Black Friday’s importance has diminished somewhat in recent years. Especially in the online world, more and more retailers are trying to attract customers with their own discount campaigns, regardless of the holiday season. In addition, for several years Black Friday has been followed by Cyber Monday on Monday, with huge discounts offered at online retail.
But Black Friday is still an integral part of the American shopping scene. In the United States, the fourth Friday in November marks the beginning of the Christmas shopping season. This accounts for 20 to 40 percent of total sales in U.S. retail trade.
Swiss department store chain Manor expects Black Friday numbers: Compared to regular holidays, the department store chain sells nearly twice as much on Black Friday. Experts estimate that up to 60 percent more sales are made in Swiss retail trade during this time of the year than on normal business days.
According to business psychologist Christian Fichter, discount days such as Black Friday are not worth it for consumers. In the interview he explains why this is so.
According to business psychologist Christian Fichter, discount days such as Black Friday are not worth it for consumers. In the interview he explains why this is so.
What Black Friday offers are available in Switzerland?
Discount campaigns are completely different. Depending on the seller and the goods. In some stores, only consumers with a loyalty card can benefit from big discounts. In others, everyone waives half price.
On Black Friday, you can not only shop cheaper, but also for longer. Some online stores start offering Black Friday offers starting at midnight. Stationary retailers also offer longer opening hours: some shopping malls are open until 22:00 or 23:00 in the evening. Other houses open at 7 am.
Media Markt went one step further in 2017: The electronics specialty store chain launched with “Red Thursday”, in keeping with the company’s colours.
Where are the dangers lurking in the discount war?
Some retailers shop specifically for Black Friday. These are not always high quality products. That’s why you should not succumb to drunkenness, but take a closer look. Also on the price tag: Not all offers are truly bargains.
Consumer advocates complain that prices always refer to outdated prices or manufacturers’ non-binding recommended prices.
It’s also quite possible that one or two items will only become truly cheaper next Monday. Because it’s on so-called Cyber Monday, a time when online retailers have really big discounts.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
