Why Did They Call It Black Friday?
The term “Black Friday” has become synonymous with the beginning of the holiday shopping season in the United States. But have you ever wondered why it’s called Black Friday? The origins of this name are steeped in history and economic significance, and it’s a story that dates back to the early 20th century.
Origins in Retail Accounting
The term “Black Friday” first appeared in the 1960s in Philadelphia, Pennsylvania. It was used to describe the heavy traffic and the economic activity that occurred on the day after Thanksgiving. The name was derived from the accounting practices of the time. In the days before computers, retailers used a black ink ledger to record profits, and red ink for losses. The day after Thanksgiving was often the beginning of a profitable period for retailers, which is why they referred to it as “Black Friday.”
Overcoming the Post-Thanksgiving Slump
Prior to the 1960s, the post-Thanksgiving period was typically a slow time for retailers. Many businesses faced a financial deficit after the holiday season, which they referred to as being “in the red.” The day after Thanksgiving was seen as a critical day to turn the tide and start making a profit, hence the term “Black Friday.” Retailers would often offer special deals and discounts to attract customers and boost sales.
Evolution of the Term
As the years went by, the term “Black Friday” gained popularity and began to spread beyond Philadelphia. It became a national phenomenon, and retailers across the country started using the term to promote their post-Thanksgiving sales. However, the term’s meaning has evolved over time. While it originally referred to the financial aspect of the day, it now encompasses the entire shopping experience, including the heavy traffic, long lines, and the general chaos that characterizes the day.
Controversy and Criticism
Despite its origins, the term “Black Friday” has faced criticism in recent years. Some argue that it perpetuates a negative image of the shopping experience, with the emphasis on consumerism and materialism. Others believe that the term is misleading, as it suggests that retailers are only profitable on this one day, when in reality, many retailers have been profitable for years.
Conclusion
The term “Black Friday” has a rich history that reflects the economic and cultural significance of the day after Thanksgiving. While its origins are rooted in retail accounting, the term has evolved to represent the entire shopping experience. Whether you love or loathe the chaos of Black Friday, it’s a day that has become an integral part of the holiday shopping season in the United States.
