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Black Friday has two relevant meanings
- In history, Black Friday was a stock market disaster that happened on September 24, 1869, when, after a period of uncontrolled speculation, the price of gold crashed, and the markets crashed.
- The contemporary meaning refers to the day after the U.S. Thanksgiving holiday, which has been a holiday itself for many employees. It is known as a day full of shopping deals and heavy discounts and is considered the beginning of the holiday shopping season.
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"In the Black"
There is a theory stating that, when it comes to "Black Friday", the term "black" refers to being profitable, which comes from the old bookkeeping practice of recording profits in black ink and losses in red ink.
Retail businesses should be able to sell enough on t...
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Black Friday and retail spending
- Retailers may spend an entire year planning their Black Friday sales. They use this event as their chance to offer special prices on overstock inventory and discounts on seasonal items, such as typical holiday gifts.
- Retailers also offer significant discoun...
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The origins of Black Friday
The term was made-up by the overworked Philadelphia police officers.
- In the 1950s, crowds of shoppers and travelers flooded Philadelphia the day after Thanksgiving.
- Philadelphia stores hosted major sales that day, but the city also hosted the Army-Navy footb...
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Cyber Monday competition
- For online stores, a similar tradition to Black Friday has arisen on the Monday following Thanksgiving. Cyber Monday is seen as the unofficial start of the online holiday shopping season.
- The idea is that consumers return to work after the Thanksgiving holiday weekend, ready to sta...
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The economic significance of Black Friday
- The sales registered on Black Friday are frequently seen as a litmus test for the overall economic situation of the country and a way for economists to assess the confidence of the average American.
- Those who follow the Keynesian hypothesis that spending d...
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How Black Friday evolved
- Black Friday become the shopping phenomenon event it is today in the 2000s when Black Friday was officially designated the biggest shopping day of the year.
- Until then, that title had gone to the Saturday before Christmas.
- Today, Black Friday is becoming an increasingly le...
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"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman
MORE LIKE THIS
The Term “Black Friday”
- In 1869, two oligarchs conspired to corner the American gold market, which was at that time the basis for the U.S. dollar.
- Their plan was so complex and the plot finally unraveled on Friday, September 24, sending U.S. financial markets into a tailspin, ruin...
The wholesome story of Black Friday
The wholesome story of Black Friday is that happy shoppers would flood local shops and malls the day after Thanksgiving, and the extra spending would put retailers "in the black" for the year.
The Friday after Thanksgiving was named "Black Friday" and it became the unofficial start of the ...
Why Black Friday Is So Popular
Black Friday is the conventional starting day for the holiday shopping season.
Historically, it’s also been the best day to find great deals on the year’s hottest toys, games, and electronics.
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