Black Friday has become a Shopping Specials day.
Black Friday is a shopping specials day on the day after the United States Thanksgiving day.
But what does it commemorate?
Friday, 24th September, 1869, was the day that the term “Black Friday” was actually created and was associated with a financial crisis on Wall Street in the US.
The US gold market crashed on that day and Two Wall Street financiers, Jim Fisk and Jay Gould, had bought a significant amount of US gold in the hope of selling it for huge profits. But instead, their actions caused their them to end up bankrupt.
How did Black Friday become associated with the US Thanksgiving custom?
It seems that many stores in the United States operated at a loss during much of the year, (with red being used as negative in financial accounting. $-1,000), but on the Friday after the US Thanksgiving Thursday holiday, they turned a profit, and went into the black (in financial accounting. $1,000) from that Friday. (Black Friday).
It has also been said that the the term originated in about 1961, in Philadelphia, United States, when talking about the extra heavy traffic, both vehicle and pedestrian, that caused problems on the day after Thanksgiving.
Why are other countries having this US Black Friday day?
The Internet is almost certainly the answer. US Retailers began to introduce their retail “Black Friday” sales to other countries in the world, to increase their sales and profits. Other retailers worldwide, have jumped on this bandwagon.
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