Bond With BFCM in the US
Aug 29,2023 | Tim
Black Friday and Cyber Monday, collectively referred to as BFCM, are two of the biggest shopping events of the year, particularly in the United States, but also increasingly around the globe. These events are known for deep discounts and attractive deals that kickstart the holiday shopping season. So what on earth "BFCM" is, just a shopping festival? Let's now dig in!
Origin of "BFCM"
black friday sale banner template 3d rendering.
Black Friday originated in the United States and is held on the day after Thanksgiving, which falls on the fourth Thursday in November. The term “Black Friday” was first used in the 1960s to mark the kickoff to the Christmas shopping season. “ Black” refers to stores moving from being “ in the red” (or posting losses) to being “ in the black” (or turning a profit). During this time, retailers offer massive discounts to attract shoppers into stores, and it’s often the busiest shopping day of the year.
photo top view of shopping bags with keyboard and mouse for cyber monday
Cyber Monday , on the other hand, was coined by Ellen Davis and Scott Silverman of the National Retail Federation’s Shop.org in a 2005 press release. It was observed that there was a trend of people continuing their shopping online the Monday after Thanksgiving, so retailers decided to capitalize on this trend by offering additional deals and discounts online. Cyber Monday is held on the Monday immediately following Thanksgiving and Black Friday.
The Trends of "BFCM"
BFCM is not limited to physical stores. With the advancement of technology and the rise of e-commerce, these shopping events have become global phenomena, with online retailers also offering significant discounts. The trends of the BFCM market have been shifting towards online shopping, with many people choosing to avoid the in-store rush and make their purchases online. In recent years, due to the COVID-19 pandemic, online shopping during BFCM has surged even more.
What People Will Do During That "Day"
During Black Friday and Cyber Monday, consumers often take advantage of the sales to buy gifts for the upcoming holiday season, purchase pricey items they’ve been saving for, or treat themselves to something new.
It’s common for shoppers to research deals and discounts ahead of time and create a shopping strategy to maximize their savings. Some consumers may even camp outside physical stores overnight to be the first ones in line for doorbuster deals.
However, BFCM isn’t just about shopping. Many people also use this time to donate or give back to their communities, reflecting the spirit of the holiday season. Some businesses participate in Giving Tuesday, a movement that encourages charitable donations and takes place on the Tuesday following Cyber Monday.
What Does the "BFCM" Mean Toward Us?
Economic Impact: BFCM holds significant economic importance for both retailers and consumers. The sales generated during this period can contribute to a retailer’s profitability, while consumers benefit from discounted prices. The social meaning of BFCM lies in its role as a catalyst for economic activity, both at the individual and societal levels.
BFCM has become a cultural tradition for many Americans. It marks the beginning of the holiday season and has been ingrained in the collective consciousness as a time for shopping and gift-giving.
BFCM has become synonymous with the start of the holiday shopping season in the United States. It signifies a time when consumers flock to stores and online platforms to take advantage of the discounts and deals offered by retailers.
Hype and Excitement
BFCM generates a sense of excitement and anticipation among consumers. People often plan their shopping strategies, research deals, and eagerly await the start of the sales. The cultural meaning associated with BFCM is the thrill of finding bargains and scoring deals.
BFCM can bring people together as friends and family often participate in the shopping frenzy together. It creates an opportunity for socializing, bonding, and shared experiences.
Overall, Black Friday and Cyber Monday are significant retail events that kickstart the holiday shopping season. It has become a significant event in the United States, shaping people’s behavior, traditions, and expectations surrounding holiday shopping. With the rise of online shopping and the effects of the global pandemic, the trends of BFCM are continually evolving.
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