Black Friday – November 27, 2009

November 23, 2009

We’ve finally made it to the week that gave us BLACK FRIDAY! Well, not everyone has made it; however, the more important question is who will be alive after BLACK FRIDAY and who will shutter their operations after the holiday season ends. In some ways “this BLACK FRIDAY’ has a new connotation.

So, who came up with this BLACK FRIDAY term and concept anyway? A little history.

The term “Black Friday” originated in Philadelphia in reference to the heavy traffic on that day. More recently, merchants and the media have used it instead to refer to the beginning of the period in which retailers go from being in the RED (i.e., posting a loss on the books) to being in the BLACK (i.e., turning a profit). Black Friday is the Friday after Thanksgiving in the United States, which is the beginning of the traditional Christmas shopping season. The term dates back to at least 1966, although its usage was primarily on the East coast.

So, what IF the retailers don’t get out of the RED on BLACK FRIDAY?

Never fear! One report says that 131 to 161-million people will be shopping at the rate of $250-$300 apiece. While some, like Gerry Harvey, are predicting a record Christmas, one has to wonder how that can happen with a realistic unemployment rate over 17%! How delusional can we get? Let’s not ask!

For those that are counting, it is now 32 days till Christmas and don’t forget this number: it is 1,124 days till 12/21/2012!

Did you know that Wal-Mart isn’t even going to close? That way they can avoid the stampede at the doors which can be dangerous to the customers. And did you know that there is even a web site devoted to and called- http://www.theblackfriday.com/

Ah, we Americans. We have so many serious things to do and SHOPPING is near or at the top of the list! Is this a great place to live or what?

Written by Ernie · Filed Under Daily Commentary