Black Friday 2014: Fun Facts and Stats to Know

After stuffing themselves at Thanksgiving Dinner and sitting cooped up indoors with their television sets, it's customary for Americans to rush out with their shopping bags the next day early in the morning and fill them with countless products bought on Black Friday. But it is worth mentioning that this tradition of weekend shopping began in the USA only about two decades back and the term "Black Friday"was not even used until the middle of 1960s. Read further to find out some of the most interesting facts and stats about the shopping weekend.

• "Black Friday" was first used without any shopping connotation by police in Philadelphia to speak of the congested streets, clogged with motorists and pedestrians.
• Before 2001, Black Friday was not considered the biggest day of shopping as this title was held by the day before Christmas.
• In 2014 approximately 140 million unique shoppers are expected to shop during the Thanksgiving weekend, according to NRF's survey.
• The most popular product in the shopping carts on Black Friday is Clothing, with 64 per cent of interviewed revealing they shopped in this category. It is followed by electronic products at 47 per cent and Food Stuff/Beverage and Entertainment at 46 per cent each.
• Most shoppers, in order to avoid crowds and the cold and to save time have recourse to shopping online. On Black Friday 2013, 86 per cent of Home Goods purchases, 85 per cent of kid's toys and games, and 47 per cent of Entertainment purchases were made online.
• Two women have been camping outside Best Buy in Beaumont, California since 5 November, 22 days ahead of Black Friday 2014, according to Banning-Beaumont Patch.
• Recovering from the credit crisis that began in 2009, the auto industry will be seeing huge sales on Thanksgiving weekend of 2014, as many are expected to ditch malls for car dealers, reports Fortune.
• Best Buy has introduced a "Code Adam" for helping lost children in department stores which usually happens every year, according to Washington Post.
• Black Friday is the busiest day of the year for plumbers, who are left to clean up after guests "overwhelm the system", reports CNN.

HOW TO WORK WITH INTERNATIONAL CUSTOMERS AND SUPPLIERS

Are you planning to expand your business to another country? But before going international consider the following fact: your usual American approach to professional interactions with overseas customers and suppliers may estrange important clients. The main tip would be – take account of the potential differences in how you do business and view the world.

Here are some helpful tips for strengthening and forging international partnerships:

1. Research the culture

Information about culture and economics in your target partner’s country can be helpful to strengthen and cultivate work relationships. Study up on cultural norms, names of top leaders, large-scale political events or your direct competitors.

2. Understand gender roles.

 Understand that perceptions of women at work vary widely all over the world. Whether you’re male or female, before going global, decide whether you are ready to collaborate with a client whose organizational culture and personal values may differ in great measure from yours. Sometimes female entrepreneurs may have to make adjustments to their standard practices, such as sending a male colleague to meet with a customer.

3. Speak to someone with experience.

 Someone in your professional network may be an export in international business — and perhaps has even done business in your target customer’s country. Ask for some advice and to share his/her experience with you. If you don’t know anybody, contact your local chamber of commerce or industry trade group. You will be referred to someone who can give you insight into that overseas market.

4. Find a local contact. 

American expats are found practically in every country of the world, and many of them are entrepreneurs. It is a good idea finding one who can give you a bi- cultural perspective on the target country. You should also consider hiring workers who are from that country. This will give you specialized insight and knowledge to make sure that things go as planned.

5. Check the time.

 It sounds obvious, but it is easy to forget: Not everyone lives and works in the same time zone. If you are in Los Angeles at 5 p.m. and call your client in Mumbai, they probably will not be happy that your call woke them up at 2:30 a.m.

6. Know the holidays.

Calling overseas customers on one of their country’s national holidays could be regarded as offensive. It could also be a disaster for your business if you fail to plan important deadlines around when they’re out of the office. For example, if you work with a Chinese manufacturer, you should know that during Chinese New Year (late January or early February), nearly all manufacturing and shipping shuts down for at least one week and often longer.

7. Use Skype

International calling can be expensive that is why many businesses prefer to use Skype or a similar service for communications. If you don’t already have an account, get one and learn how to use it before contacting foreign clients.