What is Black Friday?

What is Black Friday?

Black Friday is the day after Thanksgiving Day (the fourth Thursday of November) in the United States. It is the biggest shopping event in the US, with numerous brands and retailers holding large-scale sales. Black Friday is not just a shopping event limited to the US; it has become a global event attracting significant attention worldwide.

Origin of Black Friday

There are various theories about the origin of the name Black Friday, but the most widely known story comes from accounting terminology. In the past, the day when stores transitioned from losses (red ink) to profits (black ink) during the year-end peak season was called "Black Friday."

There is also a story that in the 1960s, police in Philadelphia used the term "Black Friday" to describe the traffic congestion and crowded shopping streets on this day.

What Makes Black Friday Special?

1. Steep discounts
Black Friday boasts the biggest discounts of the year. Popular items such as electronics, fashion, home appliances, and game consoles are heavily discounted, leading many people to prepare their shopping lists in advance.

2. Rise of Online Shopping
Traditionally an offline shopping event where people visited stores in person, online shopping has become the mainstream trend in recent years. Platforms such as Amazon and eBay, in particular, hold various sales events targeting global customers during the Black Friday period.

3. Link with Cyber Monday
Following Black Friday is another sales event called "Cyber Monday." This is an event specializing in online shopping, offering another chance to purchase items missed during the Black Friday period.

How to Make the Most of Black Friday

1. Make a shopping list
To avoid impulse buying, create a list of necessary items in advance. Prioritizing purchases, especially for heavily discounted electronics or high-priced goods, is important.

2. Utilize price comparison sites
Black Friday discounts can often create an "illusion of savings." Use various price comparison sites or apps to verify if actual discounts are being offered.

3. Use discount codes and cashback
Using discount codes or cashback services when shopping online can lead to additional savings.

4. Time management
Popular items can sell out quickly, so preparation and quick purchasing are crucial.

Is Black Friday shopping possible in South Korea?

Absolutely! Many global shopping malls hold Black Friday events in South Korea, and domestic shopping malls also hold their own sales events during this time. However, when using overseas direct purchase, you need to consider shipping costs and customs duties.

Black Friday holds more than just the meaning of shopping. For consumers, it has become the best shopping opportunity, and for stores, it is the day to record the highest annual sales. With good planning and preparation, Black Friday can be the perfect opportunity to purchase necessary items at the most reasonable prices.