Each year there is one day that stands apart in terms of pubic shopping insanity and it is known to all as Black Friday. In history, Black Friday is a fairly recent phenomenon, but one that has grown more and more popular with each passing year. So why is it called Black Friday and where did the term Black Friday come from in the first place?
Black Friday In History
The term Black Friday actually has several origins. The first reference of Black Friday in history comes from an 1869 financial panic in the stock market. Newspapers such as the New York Times originally coined the phrase, but it did not surface again until the mid 1970’s when Philadelphia newspapers picked up the phrase again to reference a local football rivalry.
Other erroneous references attempt to attribute Black Friday to the stock market crash that initiated the Great Depression of the 1930’s, but that specific event actually occurred on a Tuesday in late 1929.
Why Is It Called Black Friday Today?
In more modern times the term Black Friday comes from a reference that many retailers use to express that Black Friday is the first day that they actually turn a profit for the year, although some sources protest that this reference to the term Black Friday is perhaps more fantasy than fact. In this regard the phrase basically means that up until Black Friday many stores are operating “in the red,” or in debt, owing more for their inventory than they have brought in in sales for the year.
Once the Black Friday deals and sales arrive and the legions of shoppers start coming in to fill their baskets for the Christmas shopping seasons many of these retailers finally reach the line where their debts are paid off and they start officially turning a profit for that calendar year.
When is Black Friday and Why Is Black Friday So Important?
Black Friday is widely known in popular culture as the day after Thanksgiving and is accepted to be the first official day of the Christmas shopping season. As a result, most retailers spend thousands of dollars purchasing advertising to convince shoppers to spend their rather limited Christmas budget at their stores.
Retailers also provide plenty of incentives for shoppers to come and visit their stores, slashing prices on items that are popular gifts as well as on selective high demand items to entice shoppers into their stores. As the years have progressed many stores have began to open incredibly early for these sales, prompting hundreds of shoppers to line up outside in the cold at 4am or even earlier.
An entire web-based industry has sprung out of the Black Friday phenomenon, prompting web designers to find ways to provide money-saving Black Friday tips and sneak peeks at Black Friday ads weeks before they are published in local newspapers.
