The first recorded use of the term “Black Friday” was applied not to holiday shopping but to financial crisis: specifically, the crash of the U.S. gold market on September 24, 1869.
Back in the 1950s, police and bus drivers in the city of Philadelphia used the term to describe the heavy traffic that would clog city streets the day after Thanksgiving as shoppers headed to the stores.
However, companies didn’t like the negative tone associated with the Black Friday name. In the early 1980s, a more positive explanation of the name began to circulate.
According to this alternative explanation, Black Friday is the day when retailers finally begin to turn a profit for the year. In accounting terms, operating at a loss (losing money) is called being “in the red” because accountants traditionally used red ink to show negative amounts (losses).
Positive amounts (profits) were usually shown in black ink. Thus, being “in the black” is a good thing because it means stores are operating at a profit (making money).
The recent popularity of Black Friday has created a couple of new shopping holidays: Cyber Monday and Giving Tuesday. For those who are too busy to shop on Black Friday — or who just don’t want to fight the crowds — the Monday following Black Friday has become known as Cyber Monday for the many online deals that shoppers can take advantage of from the comfort of their homes. GivingTuesday was established in 2012 as a day of generosity and philanthropy. On the Tuesday following Thanksgiving, individuals, organizations and communities celebrate and encourage giving to charities and those in need. What a wonderful way to celebrate the holidays!