Professor gives Black Friday fun facts

W

ith the holiday shopping season approaching, David Cadden, professor of entrepreneurship and strategy emeritus at Quinnipiac University, is available to discuss fun facts About Black Friday.

Cadden said the term, “Black Friday,” was initially applied to a stock market collapse in the 19th century. Some have argued that it refers to when retail outlets move into the “black” or become profitable. Another possible source of the term allegedly came from the number of people who called in sick. The most reasonable answer is that Black Friday came from the Philadelphia’s police term (circa 1960s) for the traffic jams generated by people coming into the city for the sales. The term, as currently used, did not come into use until the 1990s.

Cadden offers other Black Friday fun facts:

·      More people have been killed at Black Fridays sales since 2006 than have been killed by sharks. There have been over 40 instances of customer’s pepper spraying other customers. Two of the fatalities occurred at a Toys-R-Us.

·      More people shopped at Walmart during the Black Friday weekend than attend the Disney Land and Disney World for the year.

·      In 2013, more people went shopping during Black Friday weekend than the population of Japan. In 2015, about 35 percent of the entire U.S. population went shopping on Black Friday.

·      Black Friday is the biggest day for plumbers.

·      Millennials are big shoppers during Black Friday—54 percent of 18-24 year olds shopped, while 62 percent of 25-35-year-olds shopped.

·      FDR moved to have Thanksgiving changed from the last Thursday in November to the third Thursday in November to prolong the retail season.

·      In 2015, there was a greater than 14 percent increase in online sales, including a 70% increase in sales through mobile phones while sales at brick-and-mortar declined by $1 billion.

If you are interested in speaking to Cadden, please call John Pettit, assistant director of public relations, at 203-415-7370 (cell) or 203-582-8580 (office).