I think everyone knows what Black Friday is but I have gotten a few questions regarding what it means so I figured it would be an easy day after Thanksgiving blog post when I have eaten so much turkey I still feel tired after sleeping two hours later than normal (7am vs 5am)…
Black Friday was always historically known as such because it was the day many retailers went into the black. Meaning that up until this day, they were operating in the red (or having more expenses than income). Being in the black means you have more sales than expenses. (Just explaining it simply, here.)
There are grumblings that Black Friday will become irrelevant sometime soon but given my Facebook feed and the amount of people lined up via news broadcasts outside of stores last night before they opened on Thanksgiving, no less, I do not think this Black Friday phenomena will be ending anytime soon.
I do not go shopping on Black Friday. I never did. But, when I owned a small retail store on Staten Island in 2005-2008, I did open on Black Friday and was always astounded at the amount of customers I would see on that day (and that amount would never replicate again at any day of the year). And everyone who walked in my store, left with something they purchased. That was also something that was not replicated on any other day of the year.
So Black Friday is something that is a powerful force in our economy. It spurs spending but maybe the type of spending that cannot be replicated on any other day or time. Maybe it does mean we are a mercenary culture dictated by things and purchases instead of warmth and home given how many store employees had to leave / miss Thanksgiving dinner to be at work (though according to reports and friends who work in retail, for double time pay). I do not know. I do know that spending spurs economic growth and that having a store open for Black Friday can make the whole year for that store.
I have always done the bulk of my shopping on Cyber Monday but to be honest, I am usually done with my holiday shopping before this because I am super early on everything (note in point; my holiday cards are already out – which you saw if you follow me on Instagram).
As a web based business owner, now, I do hope Black Friday and the upcoming holidays spur people to make the investment in themselves and their futures either through one on one consulting work from me on resumes, LinkedIn profiles, cover letters or application essays. I also hope people register for my upcoming seminars and courses at Wagner College Office for Lifelong Learning. But I think for a business like mine, New Year’s and its resolutions would be more of my busiest time in getting new clients. Hey, if a business in Brooklyn can be highlighted on news’ sites for a woman offering to rent herself out as a “mom” for $30/hour, I am sure many people need a career guru (who also happens to be a mom – lol) for my low rates given how many hours of work I put in to helping people achieve their next step dreams…
What do you think about Black Friday? Were you out shopping today? Have a great day of leftovers!! Happy Hunting!
Lisa Vento Nielsen