What are Black Friday, Small Business Saturday, Boxing Day and Cyber Monday sales

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ALSO READ: Black Friday Sale 2023: From Vijay Sales to Croma, best deals and offers from Indian retailers On this day, retailers offer major discounts to attract customers and stimulate early holiday shopping. This is done with an aim to boost the overall sales. The day also provides an opportunity for retailers to clear out older or excess inventory by offering discounts and making room for new merchandise, NDTV reported.

Saturday, November 25, 2023 is a "Small Business Saturday". It is a day to celebrate and support small businesses. Founded by American Express in 2010, Small Business Saturday has become an important part of small businesses’ busiest shopping season.

It has been officially cosponsored by the Small Business Administration (SBA) since 2011. "Historically, reported projected spending among US consumers who shopped at independent retailers and restaurants on Small Business Saturday reached an estimated $17.9 billion according to the 2022 Small Business Saturday Consumer Insights Survey commissioned by American Express," the SBA said. Small Business Saturday, which encourages shoppers to visit local retailers, and Cyber Monday, which promotes shopping online.

Giving Tuesday has also emerged to spur charitable donations. With many retailers participating, Black Friday has become a highly competitive market where stores aim to outdo each other with better deals. Cyber Monday is a shopping holiday that falls on the Monday after Thanksgiving.

This year, it is on November 27. Cyber Monday earlier used to focus heavily on tech and electronics. It, however, now includes discounts on the same variety of items one find on sale for Black Friday, CBS news reported.