When discounts become a global sport
The world can’t resist Black Friday! Cartoon: Ladysmith News Much like Valentine's Day and Mother’s Day, two festivals India has adopted with suspicious enthusiasm, Black Friday too has quietly found a foothold in India. For the uninitiated, it was yesterday, the last Friday of November, the day after Thanksgiving Thursday in the United States. Because most global retail giants are headquartered in the USA, their shopping rituals inevitably drift into our markets. Thus begins their unofficial kick-off to a nearly month-long Christmas shopping marathon. The name might puzzle you, black usually denotes sorrow, loss, and calamity, but here companies claim they spend the whole year ‘in the red’ and only on this miraculous Friday do they crawl ‘into the black’ with profits. No wonder they announce discounts so heavy they should come with a doctor’s note. According to some historians, the first Black Friday in the US traces back to the financial crisis in 1869 when two financ...