California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

The term Black Friday represents the Friday after Thanksgiving. The term ‘Black Friday’
has been traced back to the 1970’s.  Black Friday was coined because of the heavy
retail traffic on this day, although most contemporary uses of the term refer instead to
it as the beginning of the period in which American retailers are in the black (i.e., turning a profit).

Today, Black Friday is focused around retailers hype to induce sales by using the Friday
after Thanksgiving (which most Americans have as a holiday from their work) to kick off
the buying of gifts for the upcoming holidays.

While Black Friday has been identified as the busiest day of shopping during the year, it
now acts as a barometer and forecasting tool of the purchasing power of the American
consumer and the strength of the national economy.

According to the annual BDO Seidman, Retail Compass Study, U.S. retailers estimate
sales on “Black Friday” (November 23 this year) will account for 15.1 percent of their total
 holiday revenue in 2007. Let the Shopping Begin!

I am Tim Johnson and this has been the California Business Minute.