Black Friday is the Friday after Thanksgiving in the United States Of America. Most significant such event in American history was the Panic of 1869, which occurred when financiers Jay Gould and James Fisk took advantage of their connections with the Grant Administration in an attempt to corner the gold market.
The then American leader/President Grant learned of this manipulation, he ordered the Treasury to release a large supply of gold, which halted the run and caused prices to drop by 18%. Fortunes were made and lost in a single day, and the president’s own brother-in-law, Abel Corbin, was ruined.
The earliest known use of “Black Friday” to refer to the day after Thanksgiving occurred in the journal, Factory Management and Maintenance, for November 1951, and again in 1952. Here it referred to the practice of workers calling in sick on the day after Thanksgiving, in order to have a four-day week-end. However, this use does not appear to have caught on. Around the same time, the terms “Black Friday” and “Black Saturday” came to be used by the police in Philadelphia and Rochester to describe the crowds and traffic congestion accompanying the start of the Christmas shopping season. In 1961, the city and merchants of Philadelphia attempted to improve conditions, and a public relations expert recommended rebranding the days “Big Friday” and “Big Saturday,” but these terms were quickly forgotten.
On 24th November, 2023 Thepressradio.com reporters in South Africa visited most of the shops in the province of the country looking at how the people around is participating in this particular event. Off course People living in South Africa really love ”Black Friday”. During the visit at Secunda in the Mpumalanga Province, Shops like PEP CELL, PEP STORE, SHOPRITE,ROOT, PICK n PAY, SPORTS SCENE etc. have a reduce their stock 40% and more.
Having interview with some of the customers, they stated that, ”Black Friday” is actually a day they buy their Christmas clothes and even glossaries that can last till Christmas.
Thepressradio.com were able to have a conversation with some shops management at Mall@Emba to find out how they manage to reduce their stock without losing their interest and even that of their capital. The manager of one off the shops disclosed that, they have a way of pricing their stock during special days like today (Black Friday). The reporters also tried their best to know that way of the pricing but the manager couldn’t revealed the exact strategy due to store competition.
Check Out how below:
— Thepressradio.com (@thepressradio) November 24, 2023
#BlackFriday pic.twitter.com/vwFGrMSPmY
— Thepressradio.com (@thepressradio) November 24, 2023
Source: Thepressradio.com
