It’s almost time to kick off the holidays! Perhaps some are already done their Christmas shopping (making the rest of look bad), but many don’t even start to think about Christmas shopping until Black Friday rolls around.
But what’s the deal with Black Friday? What makes the Friday after Thanksgiving so special and what does Black Friday even mean?
Here are some facts you may not have known about the “holiday” that kicks off the holidays!
Believe it or not the term Black Friday actually originated in the 1800’s, though not in a retail sense. The first known use of the term referred to the collapse of the U.S. gold market in 1869. You can read more about the history of that day here.
It wasn’t until the mid to late 1900’s that the term began to be used to refer to the Friday after Thanksgiving. Some reports say the term was used in 1951 to refer to the fact that workers would call in sick the day following Thanksgiving so they could have a four day weekend.
The Friday after Thanksgiving began to be considered the beginning of holiday shopping season ever since the Macy’s Thanksgiving Day Parade started in 1924. As a result, in the 1960’s police in Philadelphia came to refer to the day as Black Friday, calling to so because of the congested streets the hectic shopping caused.
2) National Term as of the 1990’s
By the 1990’s the term Black Friday took off and every retail store in America, and some in Canada, were using the term in order to spark interest in sales over the Thanksgiving weekend.
These stores had seen great results from similar deals such as Boxing Day Blowout and Midnight Madness.
3) Back in Black
Some say the term came about because retailers were “back in black” as a result of all of the shopping on the Friday after Thanksgiving.
When accounting was done by hand, red ink indicated a loss while black a profit. Thus, back in black means that the store was profitable once more.
Retailers were said to go into the black on their account ledgers during this sales period. However, there has been no proof that this one single day (or week long event in some stores) has had any effect on the profit of companies.