Did you know that the term “Black Friday” originated from Philadelphia? Yes, it did not originally refer to the day you can get great discounts on various products, especially electronics, toys, and clothing.
Black Friday, as a term, was originally used to describe the crowds who came to see the Army-Navy football game played in Philadelphia on the Saturday following Thanksgiving every year from the 1950s to the 1970s.
This article discusses all you need to know about Black Friday.
This game brought many people into the city, most of whom arrived on Friday, which caused a major headache for the police, who had to deal with all kinds of mischief and mayhem. It was such a period of great pain for the police, which often closed late and had more workload than usual, that they began referring to the day as Black Friday.
Retailers in Philadelphia were not left out. They noticed a sales spike in their products due to the increase in the number of people in town for the match. They also started calling the day Black Friday, which in their case is linked to the myth of the black ink, which is used on handwritten ledgers to denote profit.
In recent times, Black Friday has become one of the biggest shopping days of the year, marking the traditional start of the holiday shopping season.
Black Friday has become one of the biggest shopping events in Nigeria, primarily driven by prominent e-commerce platforms like Jumia and Konga.
There are always two sides to a coin. Below are the pros and cons of Black Friday.
Pros
1. Access to Discounts
Black Friday offers Nigerian consumers significant discounts on various products, from electronics to household items. This helps consumers save money, especially during the holiday shopping season when expenses typically increase.
2. Growth of E-commerce
The event significantly boosts the e-commerce sector in Nigeria, encouraging more businesses, including small and medium enterprises (SMEs), to establish an online presence. Platforms like Jumia and Konga use Black Friday to promote local brands, which increases consumer choice and market competition.
3. Consumer Awareness and Engagement
Black Friday raises consumer awareness about pricing and the value of goods, pushing shoppers to compare prices and seek out the best deals. This trend fosters a more informed consumer base.
Read Also: What we intend to achieve with ‘Beat Sapa’ Black Friday campaign—Jumia Nigeria
Cons
1. Overspending
The allure of deep discounts may encourage consumers to buy items they don’t need, leading to overspending and potential financial strain, especially in a challenging economic environment as ours.
2. Crowding and Logistics Issues
Physical stores can become overcrowded, leading to a stressful shopping experience. Additionally, many shoppers face logistical challenges such as delayed deliveries or stock shortages, particularly during peak times.
3. Quality Concerns
Some discounts may be on older or lower-quality products, raising questions about the value of purchased items. Consumers may find that not all sales offer genuine savings.
While Black Friday presents significant opportunities for savings and growth in Nigeria’s retail landscape, it also poses challenges related to consumer behaviour and shopping experiences.
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