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...shoppers have viewed Thanksgiving as the traditional start to the holiday shopping season, an occasion marked by celebrations and sales. Department stores in particular locked onto this marketing notion, hosting parades to launch the start of the first wave of Christmas advertisements, chief among them, the Macy's Thanksgiving Day Parade, running in New York City since 1924. The holiday spree became so important to retailers that during the Great Depression, they appealed to President Franklin D. Roosevelt in 1939 to move Thanksgiving up in order to stretch out the holiday shopping season. Roosevelt obliged, moving Thanksgiving one week earlier...
...panic set off by plunging gold prices. Newspapers in Philadelphia reappropriated the phrase in the late 1960s, using it to describe the rush of crowds at stores. The justification came later, tied to accounting balance sheets where black ink would represent a profit. Many see Black Friday as the day retailers go into the black or show a profit for the first time in a given year. The term stuck and spread, and by the 1990s Black Friday became an unofficial retail holiday nationwide. Since 2002, Black Friday has been the season's biggest shopping day each year except...
...Nevertheless, retailers continue to tie one-day in-store sales to Black Friday. In the Internet era, bloggers race to obtain leaked circulars and post them online weeks in advance of Thanksgiving. Many forums and websites chart the deals, helping shoppers make a plan of attack for the big day. And attack they will - the National Retail Federation anticipates 134 million people will hit the stores on Thanksgiving weekend. After the deaths last year, there's an added focus on making sure stores are ready to handle the crowds. Walmart extended hours to keep stores open on Thanksgiving Day...
...brief history of the Macy's Thanksgiving Day Parade...
...prices have risen again since their initial decline last year. Unlike Dubai, the oil economies of the Middle East have been more sober during the boom years, putting their money in massive infrastructure projects, building cultural institutions, and keeping big piles of cash on hand for a rainy day. Dubai may want to do the same...