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What is "Black Friday" and what was the total amount of sales on Black Friday in 2017?

What is "Black Friday" and what was the total amount of sales on Black Friday in 2017?

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Asked by E.Barrington, Last updated: Jun 25, 2020

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Daniel Collingwood

defense enthusiast, geopolitically and geostrategically sound

Daniel Collingwood, SSEE, high school, btech (cse), New York

Answered Dec 19, 2017

The day after the Thanksgiving(fourth Thursday of November) is called Black Friday. Black Friday is regarded as the starting of Christmas shopping season. It is not an official holiday however the state of California and some other states give their state employees holiday on this day making it a 4 day weekend which increases the shoppers.

Retailers start opening their businesses just after overnight. The reason black Friday has so many shoppers is a combination of Christmas season and hefty discounts on various commodities. Since 2005 retailers have seen an increase in profits every consecutive Black Friday. According to National Retailer Federation (NRF) in 2017, there was a total of 628 billion US dollars spent on Black Friday, which was a 4% increase from 2016.

2017 saw decrement in footfall in stores by 4% as 18% of the shoppers did their fair share of shopping online. 2017 also saw the rise in the number of shoppers through mobile service. Retailers such as JC Penny, RadioShack, and Best Buy hire a large number of employees on a temporary basis to facilitate shoppers. In total, 137 million shoppers went to shopping over 4 day weekend in 2017.

 

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