Black Friday – What is Black Friday?

Black Friday What is Black Friday
Black Friday What is Black Friday

One of the busiest shopping days of the year in the US is the day after Thanksgiving, sometimes known as Black Friday. While national chain stores often offer limited money-saving discounts on a variety of products to attract customers to their stores, they also offer similar offers online.

The notion that businesses are making a loss or being "at a loss" until the day after Thanksgiving, but making a profit or "taking a profit" at the end of the big sales, is considered by many to be the origin of the name "Black Friday". However, this is not true.

The phrase “Black Friday” was first used by Philadelphia police officers to describe the chaos that ensued in the early 1960s when large numbers of suburban tourists arrived in the city on Saturday to begin their holiday shopping and, in some years, attend the annual Army-Navy football game. This is when the more accurate meaning of the idiom first appeared. Large crowds caused police to work longer shifts than usual as they dealt with theft, traffic jams, accidents and other problems.

The phrase “Black Friday” soon became recognizable in Philadelphia. “Great Friday” was a name given by city merchants to make the day look better.

Black Friday, as a term for an increase in retail sales, did not become widely used until the late 1980s, when businesses began promoting the red-to-black snow myth. According to reports, Black Friday is both the biggest shopping day in the US and the day retail establishments start making profits throughout the year. In reality, the Saturday before Christmas is the busiest shopping day for most retailers.

Other shopping holidays have emerged in recent years, such as Small Business Saturday and Cyber ​​Monday, which encourage consumers to shop online to compete with Black Friday. Giving Tuesday has also become popular for encouraging charitable donations.

Black Friday has another meaning, historically unrelated to shopping. Wall Street financiers Jay Gould and Jim Fisk bought as much gold as they could on the New York Gold Exchange in 1869, trying to corner the country's gold market in order to raise prices. However, with the intervention of President Ulysses S. Grant on Friday, September 24, these plans failed. As soon as the stock market crashed, hundreds of Americans filed for bankruptcy.

Source: Britannica

Günceleme: 24/11/2022 15:13

Similar Ads

Be the first to comment

your comment