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History of Black Friday

The Black Friday is one of the major shopping days in the United States between the dates November 23 and 29. The term “Black Friday” was first framed around the year 1960 to intimate the beginning of the Christmas shopping season. It is considered as the official beginning to the holiday season. The word “Black” refers to the stores which turns “red” to the “black”. The red ink indicates the loss and the black ink refers to profit. For the millions of people, Black Friday is the time to start the Christmas shopping.

The modern method of Macy's Thanksgiving Day Parade was started in the year 1924. The Black Friday is the Friday after the Thanksgiving Day. The Friday after the Thanksgiving Day has been considered as the unofficial start of the holiday shopping season. In 1960, the Philadelphia police griped the congested streets, clogged with the motorists and the pedestrians by calling the day as a “Black Friday”. As a non-retail case, it describes the financial crisis of 1869: the gold spectators tried and failed to corner the gold market which leads to market collapse and the market stocks get plumped.

The retailers then understood that they could bring large number of people to shop by discounting the prices and the Black Friday turned out to be a day for shopping better than that of the last minute Christmas sales. Some of the retailers put their shop for sale on the morning of the Thanksgiving Day and advertise the specialty of their sales to consumers earlier than that of the actual event. It is a long day because many retailers open their shops at 5 am and earlier for sales. They offer “door buster deals” to draw more customers. The “loss leaders” refers to the retailers who sell so low priced and doesn't make the profit.

In 1939, the retailers wanted to have a long shopping session and don't want to break the tradition by starting before the Thanksgiving Day. President Franklin D. Roosevelt moved the Thanksgiving Day one week earlier. This incident made the public angry because they have to change their holiday plans. Some people refused to change their plans and so the U.S. citizens celebrated the Thanksgiving on two separate days. Some people called the change as “Franksgiving”.

It is not at all an official US holiday, but many employees took leave on that day. Based on the news from Reuters, about 135 million people participated in the Black Friday shopping in 2007. Depending upon the location, some of the major retailers are Best Buy, Macys, Sears, Toys ”R” Us and Walmart. They open their shops in the early midnight on the start of Black Friday. For this year 2010, the “Black Friday” date is November 26 and for the next year 2011, the date will be November 25.

dBal
Sat, 12 Jun 2010 07:20:21 +0000

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