7 FACTS YOU DID NOT KNOW ABOUT BLACK FRIDAY

Jumia Black Friday 2017 is almost here!!! You can tell we are very excited! Think you know everything about Black Friday? Here are some facts you may never have heard of.

BLACK FRIDAY WAS ONCE A STOCK MARKET TERM

It was first used as far back as the nineteenth century, September 24th, 1869 to be specific when the price of gold plummeted. Black Friday used to refer to stock market crashes.

IT WAS POPULARISED BY THE POLICE

The US Philadephia Police made the term popular in the 1960s. They used it to describe the overwhelming traffic congestion they had to contend with during throughout the weekend.

A US PRESIDENT WAS ONCE PETITIONED OVER BLACK FRIDAY

President Franklin Roosevelt’s office was once flooded with messages from concerned citizens. They demanded a change in the chosen date for Thanksgiving which invariably influenced Black Friday.

IT BECAME A RECOGNISED TERMINOLOGY IN THE 1990S.

Black Friday became a thing in the 90s when it was nationally accepted in the United States.

BLACK FRIDAY WAS ONCE CALLED BIG FRIDAY

An attempt was made to change Black Friday to Big Friday, possibly because of the traffic and smog that results from then offline shopping. Of course, it didn’t work! We love us some Black Friday!!

THE FIRST JUMIA BLACK FRIDAY WAS IN 2014

In 2014, Jumia joined the global shopping tradition,

JUMIA IS SET TO BREAK A BLACK FRIDAY RECORD!

Jumia Black Friday 2017 is slated to hold from November 13th to December 13th! Yes, you heard right! For 31 days, the Jumia Black Friday Festival will be lighting up Nigeria with deals, discounts and giveaways!! Get ready. Learn how to stay ahead for all the juicy features. Follow my updates here and on all other social media platforms to get updates... Jumia sales consultant[b][/b]

AS far as I know, black Friday is related to the stock market in a different way. It is more a financial/accounting term.

It is well known that more retailers are operating in red (losing money during the year) and they start making profits and revenue start exceeding costs (turn black) once they begin selling for the Xmas season.

The color red, in accounting and financial reports, is related to losses and uncovered costs.

The color black is the same accounting and financial reports is related to profit and positive figures.

Thus, during the October/November period, when people in the US were starting to buy presents for Xmas, most retailers were seeing increased revenue, that turned their financial reports from RED (loses during the yeard) to BLACK (profits, positive figures) during the last period of the year.

And, in the America way of doing things, they started celebrating this and making it a national (and now global) holiday.