why is it called black Friday ?
The term "Black Friday" has evolved in its meaning over time, but its modern usage primarily refers to the day after Thanksgiving in the United States, which is widely recognized as the start of the holiday shopping season. Here's a breakdown of its origins and why it's called "Black Friday":
The term "Black Friday" has evolved in its meaning over time, but its modern usage primarily refers to the day after Thanksgiving in the United States, which is widely recognized as the start of the holiday shopping season. Here's a breakdown of its origins and why it's called "Black Friday":
Historical Origins
Financial Crisis (1869):
The earliest known use of the term "Black Friday" referred to a financial crisis on September 24, 1869. Two investors, Jay Gould and James Fisk, attempted to corner the gold market, causing a market crash and leading to financial ruin for many.
Philadelphia Traffic Chaos (1950s):
In the 1950s, police officers in Philadelphia began using the term "Black Friday" to describe the chaotic day after Thanksgiving. Shoppers flooded the city ahead of the Army-Navy football game, creating massive traffic jams, crowded streets, and an uptick in shoplifting and other issues. The term was not initially associated with positivity; it described the burdens faced by police and retail workers.
Financial Crisis (1869):
The earliest known use of the term "Black Friday" referred to a financial crisis on September 24, 1869. Two investors, Jay Gould and James Fisk, attempted to corner the gold market, causing a market crash and leading to financial ruin for many.Philadelphia Traffic Chaos (1950s):
In the 1950s, police officers in Philadelphia began using the term "Black Friday" to describe the chaotic day after Thanksgiving. Shoppers flooded the city ahead of the Army-Navy football game, creating massive traffic jams, crowded streets, and an uptick in shoplifting and other issues. The term was not initially associated with positivity; it described the burdens faced by police and retail workers.
Modern Interpretation
By the 1980s, retailers sought to rebrand "Black Friday" with a more positive connotation, tying it to profitability:
Profitability for Retailers:
- In accounting, profits are traditionally recorded in black ink, while losses are recorded in red ink. The day became associated with retailers "going into the black," or turning a profit, due to the surge in holiday shopping.
- This reinterpretation helped the term gain widespread acceptance and a more favorable meaning.
Cultural Significance:
Over time, "Black Friday" transformed into a major cultural event, with retailers offering significant discounts and deals to attract shoppers. It is now one of the busiest shopping days of the year in the U.S. and has expanded globally, with countries adopting similar sales events.
By the 1980s, retailers sought to rebrand "Black Friday" with a more positive connotation, tying it to profitability:
Profitability for Retailers:
- In accounting, profits are traditionally recorded in black ink, while losses are recorded in red ink. The day became associated with retailers "going into the black," or turning a profit, due to the surge in holiday shopping.
- This reinterpretation helped the term gain widespread acceptance and a more favorable meaning.
Cultural Significance:
Over time, "Black Friday" transformed into a major cultural event, with retailers offering significant discounts and deals to attract shoppers. It is now one of the busiest shopping days of the year in the U.S. and has expanded globally, with countries adopting similar sales events.
International Influence
The success of Black Friday has inspired similar shopping events worldwide. For example:
- Singles' Day in China (November 11th) is a massive shopping holiday, particularly online.
- Boxing Day in the UK, Canada, and Australia (December 26th) also features major sales.
The term "Black Friday" serves as a reminder of how historical events and cultural practices can evolve, acquiring new meanings and becoming integral to modern traditions.
The success of Black Friday has inspired similar shopping events worldwide. For example:
- Singles' Day in China (November 11th) is a massive shopping holiday, particularly online.
- Boxing Day in the UK, Canada, and Australia (December 26th) also features major sales.
The term "Black Friday" serves as a reminder of how historical events and cultural practices can evolve, acquiring new meanings and becoming integral to modern traditions.