Black Friday has people going wild for saving for the biggest shopping day of the year! There is a lot of myths behind this day, like some people use to call black friday the darkest day of the year!
Black friday in modern terms means that retail companies are in the negative (losing money) all year long til the day after thanksgiving, then everything the retail stores make is all profit ideally. The term “Black Friday” was coined in the 1960s to mark the kickoff to the Christmas shopping season. “Black” refers to stores moving from the “red” to the “black,” back when accounting records were kept by hand, and red ink indicated a loss, and black a profit. Ever since the start of the modern Macy’s Thanksgiving Day Parade in 1924, the Friday after Thanksgiving has been known as the unofficial start to a bustling holiday shopping season.
Yet the term itself is much older than modern retail.
Dictionary.com says “Black Friday” was used to describe September 24, 1869, which, according to the American Heritage Dictionary of Idioms, was a Friday when two stock manipulators tried to corner the gold market and caused its collapse.
The online dictionary goes on to point out that the adjective “black” was then used on similar occasions — on Tuesday October 19, 1929 when the stock market crashed, causing the Great Depression, and Black Monday of October 19, 1987, when the market crashed again.
But the term came to be tied to retail around the middle of the 20th century, according to articles found by Bonnie Taylor-Blake, a member of American Dialect Society.
Taylor-Blake found the day after Thanksgiving referred to as “Black Friday” in an article from a 1951 edition of “Factory Management and Maintenance,” due to the high level of worker absenteeism on that day.
She also posted, on the Society’s listserve, a 1961 article from Public Relations News, saying Philadelphia police officers were using the term “Black Friday” in connection to the day after Thanksgiving due to the downtown traffic jams resulting from the rush of holiday shoppers.
Every year there is some “Special” toy item that’s hot and for once this year there is not “IT” item!
The Monday after Black Friday is called Cyber Monday’s it is the Black friday of the online market. It is when all the stores and online shops have their largest deals and most sales of the year.
According to wikipedia:
Cyber Monday is a marketing term for the Monday after Thanksgiving in the United States. The term “Cyber Monday” was created by marketing companies to persuade people to shop online. The term made its debut on November 28, 2005 in a Shop.org press release entitled “‘Cyber Monday Quickly Becoming One of the Biggest Online Shopping Days of the Year”.
According to the Shop.org/BizRate Research 2005 eHoliday Mood Study, “77 percent of online retailers said that their sales increased substantially on the Monday after Thanksgiving, a trend that is driving serious online discounts and promotions on Cyber Monday this year (2005)”. In 2010, comScore reported that consumers spent $1.028 Billion online on Cyber Monday (excluding travel, 2009: $887M), the highest spending day of 2010.
Cyber Monday has made Black friday take a loss though and it is not making as much money as it use to because of the free shipping and huge deals online.
Either way here is your history lesson for the day!
Have a great thanksgiving and stay in and relax alot of people are getting hurt on Black friday