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You might have heard of “Black Friday”. Here we explore the significance of this day and how it can benefit your business.

What is Black Friday?

It is the day immediately following Thanksgiving Day when companies offer attractive discounts on their products and services. It has been found that many shops open as early as 4 AM or 5 AM on this day. Some shops have even begun to open their doors at the stroke of Thursday midnight or the eve of “Black Friday.” Both customers and businesses eagerly await this particular day. Customers are drawn to this day because of the attractive and ubiquitous discounts, whereas the companies seek to cash in on the customer rush and massive sales.

Origin of the term “Black Friday”

At the onset of this tradition, people were so enthusiastic about deals that they crowded shopping centers in great numbers. Because of this, there were traffic accidents and other negative incidents involving the crowd. In 1966 the Philadelphia Police Department dubbed this as “Black Friday.”

There is another reason to call this particular day “Black Friday” since being in the red signifies a loss for a company, on the other hand being in the black signifies profits. As the companies make considerable sales as a spin off from this day and hence massive profits, the day is aptly termed “Black Friday.”

How your company should get ready for Black Friday?

People expect major discounts on Black Friday and make plans to spend. As a small or medium business owner, you should not be left out. Brainstorm with your team to offer strategic and significant discounts on products and services coinciding with the occasion of Black Friday. This is sure to boost your sales and draw attention to your company. Do research on the last Black Friday and study discounts made by competitors and the products and services which attracted maximum sales. This way your company can leverage Black Friday to make significant sales. As it is frequently said, it’s never too early to get ready for black Friday.

What is Cyber Monday?

Nowadays people prefer cyber Monday as opposed to Black Friday. It is a marketing name for the Monday immediately following Black Friday. People from different countries shop online, avoiding the long queues outside shops. Thus it is more convenient and hassle free. Cyber Monday made its debut in 2005 and is growing in popularity since then.

So what marketing plans do you have for this year’s Black Friday and what discounts are you planning to offer your customers?

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