HOT DOG! November 16 is National Fast Food Day!

by Axis Payments

If you’re a fast-food junkie like me, November 16 is going to be a whopper of a day. Why? Because it’s National Fast Food Day, that’s why, and I can hardly wait to eat fresh, think outside the bun, and go on a hunt for some finger-lickin’ good fast food.

All puns aside, there really is a National Fast Food Day. It’s observed annually on November 16. Who created it or when is not clear, but we do know the term ‘fast food’ was first recognized in the Merriam-Webster dictionary 1951.

After World War II ended, the U.S. shifted into high gear. Quick and fast became the drumbeat of society. Everyone wanted housing, new cars, and jobs right now! America, after years of an economic depression and warfare, was on the move. By the 1950s, drive-thru and fast-order restaurants had begun to spring up all around the country.

Today, fast food restaurants, many of which are U.S. branded operations, can be found in over 100 countries worldwide. With over 300,000 fast food establishments in the U.S. generating close to $192 billion in sales in 2014, the United States is the undisputed king of the fast food industry. There’s hardly a town, village, or stretch of a major highway that doesn’t have a familiar fast-food logo atop a sign for all to see.

Although the term ‘fast food’ may be relatively new, the concept dates back to the Roman times when street stands called “thermopoliums” served up steaming hot sausages, bread and wine to hungry, toga-clad customers on the go. Fast forward a thousand years to 1867 and the first American fast food restaurant, a hot dog stand, opened on Coney Island.

Then in 1955, a mixer salesman named Ray Kroc wondered why two brothers named McDonald had purchased 5 of his milk-shake mixers for their small hamburger joint. He visited their site in San Bernardino, California, liked what he saw, and decided then and there to go into the fast food business. The rest, as they say, is history.

Besides getting your food quickly, the biggest draw in fast food dining has been the relatively low cost. I can remember 15-cent hamburgers, 10-cent fries and 5-cent cokes from my high school days. Inflation has upped those prices since then of course, but budget-menus at most fast food restaurants still offer 99-cent items like hamburgers and fries.

National Fast Food Day is really a celebration of foods like hamburgers, fries, tacos, pizza, hot dog, onion rings and chicken served as nuggets or deep fried or between two buns. Are these tasty, gourmet delights good for us? Maybe not, if eaten in excess, but boy…they sure taste good!

Copyright 2015 Axis Payments

Black Friday Leaves Retailers In The Black

photo credit

photo credit

by Axis Payments

Believe it or not, the holiday season is upon us once again, which means that the biggest sales season of the year is also close at hand. Of all the occasions for increased economic activity on the retail level, the holiday season is by far the biggest stimulus of sales. This year should be no exception, with yet another record breaking year predicted.

A Fifth of All Sales

Not everyone appreciates just how big, and how vital, the holiday shopping season is to our economy. The truth is that nearly 20%, or a fifth of all retail sales for the year, occur during the holiday season. For many businesses, that amount falls well withing the margin of what they need to sell to have a profitable year. In other words, many businesses depend on holiday season sales to keep their doors open. Many people also depend on the holiday sales season for employment, as retailers typically hire over 750,000 seasonal workers each year.

Black Friday

There is really no official start to the holiday shopping season. Much depends on the type of business, for some it may start as early as September or not kick in until the last weeks of December. However, for most retailers the unofficial kick-off day is the day after Thanksgiving, generally known as Black Friday.

Cyber Monday

A newer, but fast growing companion to Black Friday is Cyber Monday, which falls on the first Monday after Black Friday. This day is devoted to the promotion of e-commerce, the buying and selling of things online. Once only a small fraction of holiday sales, online shopping has boomed in recent years. In 2010, retails analysts predicted that e-commerce holiday shopping would pass $300 billion in 2017. However, that milestone is expected to be blown past this year, as the 2015 shopping season is expected to produce at least $325 billion in retail sales.

Long Term Trends

It can be safely assumed that people will always enjoy doing some of their holiday shopping in actual brick and mortar stores. Yet, an ever increasing amount of shopping will also be done online, with average year to year growth in e-commerce holiday shopping averaging around five or six percent growth each holiday season since 2009. With record breaking sales expected once again this year, every business will want to be fully prepared to handle that extra business and all of the electronic payments that the increase will entail. For those businesses that are prepared, 2015 should be a very happy holiday season.

Copyright 2015 Axis Payments