Why is it called Black Friday?
Black Friday, an annual shopping event that takes place on the day after Thanksgiving in the United States, has become a widely anticipated day for both consumers and retailers. The name “Black Friday” may seem counterintuitive, as it doesn’t evoke the image of a day filled with joy and prosperity. However, the origin of the name holds a historical significance that reflects the economic struggles of the past.
The term “Black Friday” was first used in the 1960s to describe the heavy traffic and chaos in Philadelphia on the day after Thanksgiving. The day was named by the local police department, which was overwhelmed by the massive influx of shoppers and tourists. The term was meant to be a humorous way to describe the situation, but it quickly caught on and became synonymous with the shopping frenzy that follows Thanksgiving.
The name “Black Friday” took on a more literal meaning in the 1980s when retailers began to use it to describe the day when their financial accounts would “turn black” after the heavy sales. Prior to the 1980s, retailers often operated at a loss throughout the year, but the heavy sales on Black Friday helped them break even or even turn a profit. As a result, the term “Black Friday” became a symbol of the financial success that retailers experienced on this day.
Today, Black Friday has become a major shopping event that is celebrated not only in the United States but also in other countries around the world. Retailers offer significant discounts and promotions to attract customers, and consumers eagerly await the opportunity to purchase items at a fraction of their regular price. While the name “Black Friday” may have negative connotations for some, it remains a powerful symbol of the economic impact of the shopping event and the hope for financial success that it brings to retailers.
