What is Black Friday, and why is it called "black"?

This coveted date is awaited with the same eagerness as New Year's. People set aside money specifically for this day and create shopping lists. Both sellers and buyers mentally prepare for it. What are we talking about?
That's right, Black Friday.
Every last Thursday of November, the whole world engages in one thing - shopping! No wonder! Discounts reach up to 70, or even 90 percent. Before the Christmas holidays, one cannot miss the opportunity to buy gifts.
But have you ever wondered where this tradition came from? What is the history of Black Friday? And why, ultimately, is such a pleasant event called a "black" day?
Let's dot all the i's. Today, we will tell you what Black Friday is and who we owe the annual sales fair to.
Before we delve into its origin, let's understand what Black Friday is.
There are several theories about the interpretation of the term "Black Friday." We'll call them historical and financial. According to the historical theory, since the 19th century, "black" referred to days of severe economic turmoil. In addition to Black Friday, "Black Tuesday" and "Black Monday" are also known.
Black Tuesday occurred on October 29, 1929, when the U.S. experienced the largest stock market crash. Due to securities market fraud, stock prices initially surged and then plummeted just as swiftly. This led to major companies losing millions of dollars per minute - imagine that! In two days, the stock market lost over 30 billion dollars. This marked the beginning of the Great Depression era in the United States.
Black Monday, on October 19, 1987, closely resembles Black Tuesday: company stocks steadily rose in price and then sharply fell. However, this time, the causes were not only securities market manipulations but also escalating international relations and the development of program trading. Fortunately, this time, everything turned out much easier.
The financial theory is more modern and explains the term differently. In marketing language, "getting in the black" means "making a substantial profit." This meaning arose from financial notes: accountants used to mark all profits in black and losses in red.
Where did Black Friday come from?
There are numerous theories about the origin of Black Friday. In our view, this phenomenon emerged as a result of circumstances and the simple development of history.
It all started, sadly, with a crisis. September 24, 1869, forever stamped Friday as "black." On this day, the U.S. Treasury unexpectedly dumped a massive amount of gold onto the market to adjust the selling rate. However, it did not help. Moreover, due to speculative actions, the metal crashed by 30 percent in price. This led to bankruptcy for both Americans in general and many companies.
But that was in September! How did it happen that Black Friday is always observed on the last Friday of November? Thanksgiving Day, celebrated every fourth Thursday of November, and the Philadelphia police influenced this. In the 50s and 60s, every Black Friday turned into Hell for them: people stood in hours-long traffic jams, and the streets were crowded. All because many rushed to buy gifts for Thanksgiving. Moreover, on this day, the annual football game between representatives of the Navy and the Army took place. How could one miss such an event?
Do you think that's all? Think again. When people realized that buying a gift after work was practically an impossible task, they started taking time off for various invented reasons. The number of people leaving work skyrocketed! Enterprises were left empty, and employers could do nothing about it. Thus, this day became known as Black Friday.
As for discounts, it's simple. When market analysis in the early 80s showed how much sales grew every last Friday of November, store owners resorted to a trick to attract customers. They introduced the practice of so-called doorbusters: they opened stores early in the morning and offered significant but temporary discounts on selected items. It worked! People swept everything off the shelves, even items sold at regular prices.
Black Friday Today
In the 2000s, Black Friday gained colossal proportions! The first fights between buyers were recorded, and even a few fatalities occurred. Despite this, the celebration of shopping remains relevant and popular, largely thanks to online stores. Now there is no need to camp out at the entrance to a store - it's enough to subscribe to the newsletter from your favorite store and visit the website on time.
The duration of promotions also helps. If Black Friday used to be a one-day event, now stores offer discounts for several weeks!