Nov 22 , 2019
Why is Black Friday Called Black Friday?
Black Friday is the name given to the shopping day after Thanksgiving. It was originally called Black Friday because the volume of shoppers created traffic accidents and sometimes even violence.
Black Friday was a busy shopping day long before it got its name. Philadelphia police used the terms Black Friday and Black Saturday to describe the traffic jams that occurred the two days after Thanksgiving. This was first reported in 1961 in Public Relations News. In a report to the American Dialect Society, Bonnie Taylor-Blake also notes that the article describes how merchants tried to change the image to one of black ink, representing profitability.
Black Friday Didn't Always Mean a Good Day for Business.
Retailers did not appreciate the negative connotation associated with a black day of the week. They had a good point since the media used it to describe stock market crashes. For example, Black Monday was the name journalists gave to October 19, 1987. On that day, the Dow Jones Industrial Average fell by 23%. The Dow's closing history shows that it was the largest percentage drop on one day in stock market history.
Another dark day, Black Thursday, occurred on October 24, 1929. It was the day that signaled the start of the Great Depression. It was followed the next week by Black Tuesday. On that day, the stock market lost 12% despite attempts by major investors to support stock prices. That destroyed any confidence investors had in the stock market, which in those days was perceived to be the economy. Many had invested their life savings and were entirely wiped out.
Note: Retailers wanted to make the name "Black Friday" mean something positive.
The Friday after Thanksgiving was one of the most profitable days of the year. Accountants use black to signify profit when recording each day's book entries. They use red to indicate a loss.
So, Black Friday means profitable Friday to retailing and to the economy. Retail and consumer spending drive almost 70% of gross domestic product. Retailers adopted the name, but this time to reflect their success. To encourage more people to shop, they offered deep discounts only available on that day.
So! Kepp Shopping & Get the Amazing Discount Running on My Vanitee Case :)
Blog Credit: https://bit.ly/33bsSty