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November 24

Black Friday- the shopping event of the year

By: Kiley Delfin
Fellow of Communications

Are you obsessed with shopping and saving money through amazing deals? Even if you don’t enjoy shopping, everyone knows what takes place the day after Thanksgiving every year, Black Friday. The average American spends about $400 on the day alone!

Black Friday is the largest shopping day of the year in America and other countries worldwide. For Americans, Black Friday typically occurs the day after Thanksgiving. After eating a fulfilling feast with family, Americans are geared up for the big deals to come out in stores or online. But do you know how Black Friday came to be?
 

The term and its meaning

The term Black Friday was first used in 1869 when the U.S. gold market crashed, causing major havoc across the country. The crash occurred on a Friday, bankrupting citizens across all social classes, from farmers to wealthy business owners.

Black Friday is most commonly attributed to an idea that retail owners developed long ago. Retail companies would use the colors red and black to organize their profits and losses. Red meant loss, while black meant profit. Stores would move out of the red area and “go into black” the day after Thanksgiving. Consumers would spend more money shopping for discounted items, rather than going shopping with regular prices available.
 

Philadelphia - the birthplace of the Friday holiday shopping craze

In the 1950s, thousands of visitors came to Philadelphia, Pennsylvania, ahead of the popular Army-Navy football game that took place on the Saturday after Thanksgiving Day. Philadelphia police officers began using the term regularly to describe the mayhem that ensued on the Friday that visitors arrived in the city. The tourists and residents of the Philadelphia area flooded the town and started the Friday shopping tradition that would become known worldwide. Police despised Black Friday because they had to work long shifts to keep up with the large crowds.

When retailers and businesses in Philadelphia caught on to the massive upsurge in shopping on this particular day, they attempted to change the name to “Big Friday” since many people had a negative view of the term. This effort was futile.
 

Black Friday becomes a phenomenon

The 1980s marked the spread of the modern term Black Friday. Store owners applied the original meaning of the term to their businesses. They decided to move from red “into black” margins on the Friday after Thanksgiving to increase their companies' profit. News of this trend spread nationwide, and almost all retailers began offering significant discounts on their products for Black Friday.

In the 1990s, it was during this time that the real buzz of Black Friday emerged. Stores and malls began opening early in the morning, around 5 a.m., to get buyers excited for the day of deals. As time went on, stores began to open their doors even earlier on Friday, with some opening on Thursday night, and staying in operation all the way through Black Friday. Shoppers have even resorted to waiting outside stores in long lines to snag the best deals early, despite the freezing temperatures in most states on Black Friday. These consumers are dedicated to taking advantage of discounts.

Why is Black Friday coined the “Shopping Event of the Year”?

Black Friday has popularly been referred to as the “Shopping Event of the Year.” The day marks the start of the American holiday shopping season. Since retailers place items at blockbuster prices, Americans tend to buy Christmas gifts and other holiday items while spending less money. This day also allows buyers to purchase items that may not have been feasible for them before.

Black Friday is so popular in America that it has become a tradition in many households across the nation. After cleaning up Thanksgiving dinner, families prepare to go out by searching online sites and looking at physical magazines to see what deals are being offered.

Social media has played a crucial role in hyping up this tradition. Influencers across platforms are posting content about their excitement for Black Friday in an attempt to get their fans eager to go out on the “holiday.”

O’Pake’s Impact

The �鶹��Ƶ O’Pake Institute for Economic Development and Entrepreneurship has been working this fall season to prepare local businesses for the upsurge in shoppers and visitors they will receive during the holiday season, starting with Black Friday. New local businesses gear up for their first Black Friday season, hoping to generate new revenue and profit.

Times have changed.

While Black Friday originally started as an in-store-only event, businesses have also expanded the event to their online platforms, offering new deals that are not available in person. This is known as “Cyber Monday.” Many Americans have shopped online for Black Friday in recent years, instead of facing chaotic crowds in stores.

Black Friday has become a nationwide tradition for many families and shoppers. Check your local stores and online retailers for early and month-long deals! 

November 10

Fall: The Most Wonderful Time of the Year for Local Businesses and Stores

By: Kiley Delfin
Fellow of Communications

The �鶹��Ƶ O’Pake Institute for Economic Development and Entrepreneurship is busy with work during the fall season, helping local businesses thrive during the shift in consumer demand that occurs between seasons. Student Fellows are providing companies not only with help throughout the fall season but also with assistance in rebranding businesses ahead of the new year.
 

Autumn Across America

Autumn has been rising as America’s favorite season. You know who else loves the fall season? Local business owners. This holiday-packed season is the perfect time for local businesses across America, thanks to shifts in consumer mindset. American consumers view fall as a time to prepare and build habits that will help them ring in the new year.

The start of Fall marks the peak of the “back-to-school” season. Parents take their children to purchase new school supplies, technology, and clothing. To kick off the new school year, community members flock to book hair, nails, and other beauty services at the beginning of September. Look your best, feel your best-right? Local salons, boutiques, and retailers benefit from the early fall season customer craze.
 

Fall Associations

Fall is known for its association with local coffee shops and novelty home decor items. Local coffee shops are booming with customers during the autumn season, as people eagerly try new fall-flavored drinks, such as the beloved pumpkin spice special. The transition from a hot summer to a chilly fall is the perfect time for people to invest in new decor, cozy blankets, sweaters, and candles, which are often purchased from local businesses and boutiques.

The beautiful fall weather encourages communities to plan festivals and farmers’ market events that showcase the local area. The West Reading Farmers’ Market is open weekly on Sundays from 10 a.m. to 1 p.m. on South 6th Avenue, near Penn Avenue. The West Reading Fall Fest took place on Saturday, Sept. 20, with over 200 vendors and retailers in attendance. Popular local farms, such as Brecknock Orchard and Weaver’s Orchard, have been hosting fall festivals throughout October and remain open in November for apple and pumpkin picking.

Holiday Season Kicking Up Speed

And, of course, we can’t forget the two major holidays that take place during the autumn season: Halloween and Thanksgiving. Halloween is the perfect time for local businesses to host spooky events and offer deals that attract a diverse range of customers. Thanksgiving gives owners the ideal opportunity to market heading into the holiday season. Local bakeries and food spots are booming with business during Thanksgiving week, making multiple pie and family dinner orders a day!

It's safe to say Fall is the greatest time of the year for many reasons, and local businesses across America can definitely agree with that!