Why Was It Called Black Friday?
The term “Black Friday” has been a subject of intrigue and debate for many years. It is widely recognized as the day following Thanksgiving in the United States, marking the beginning of the holiday shopping season. However, the origins of the name and its significance are not as straightforward as one might think. So, why was it called Black Friday?
The story behind the name “Black Friday” dates back to the late 1960s in Philadelphia. Initially, the term was used to describe the heavy traffic and chaos that would ensue on the day after Thanksgiving, as shoppers flocked to the city’s stores. The term was used by the local police and media to describe the overwhelming number of people on the streets, which made it difficult to navigate the city.
However, the true meaning of “Black Friday” as we know it today has its roots in the financial industry. In the early 20th century, the stock market was often referred to as “the black market” due to its unpredictable nature and the potential for significant financial loss. The term “black” was associated with negative connotations, such as debt, bankruptcy, and financial distress.
In the 1970s, the term “Black Friday” began to be used by retailers to describe the day when their stores would finally turn a profit for the year. This was because the holiday shopping season was the most profitable time for retailers, and the day after Thanksgiving marked the beginning of this lucrative period. By turning a profit on this day, retailers would effectively “go into the black,” which is a financial term used to indicate that a company has made a profit rather than a loss.
The term quickly gained popularity and became synonymous with the holiday shopping season. Today, “Black Friday” is celebrated in the United States and other countries as the day when massive discounts and deals are offered by retailers to attract shoppers. While the financial aspect of the term remains, the focus has shifted to the shopping frenzy and the opportunity for consumers to snag great deals.
In conclusion, the name “Black Friday” has a complex history that encompasses both the chaos of heavy traffic and the financial significance of retailers turning a profit. Although the term has evolved over the years, its origins continue to shape the way we perceive the holiday shopping season and the importance of this day for both retailers and consumers.
