Why do they call it black friday?
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When it comes to the origins of Black Friday, there are a few theories floating around. One popular theory is that the name comes from the accounting term “in the black,” which refers to being profitable. This theory makes sense, as Black Friday is typically the busiest shopping day of the year and retailers see a boost in their bottom line.
Another theory is that the name Black Friday comes from the massive amount of traffic and congestion that occurs on the day after Thanksgiving. This theory is supported by the fact that “Black Friday” is also used in reference to other chaotic events, such as the Black Monday stock market crash of 1987.
So, which theory is correct? We may never know for sure. But one thing is for certain, Black Friday is a day that is infamous for being a shopaholic’s paradise.
The term “Black Friday” derives from the fact that this is the day when the accounting firms and banks (the people who sign off on the cheques) in New York get paid. As a result, this is the day when all the cheques for all the sales for the months of November and December clear the banks. The cheques have to be in the bank by midnight on Friday, so all of the final payments are made on this day. The banks close at 4pm on Friday, so this is the last chance they have to make sure they have all the money they need to pay the people who get paid.
Black Friday is a day of the year when retailers offer many special deals and discounts. It is the busiest shopping day of the year in the United States.
The phrase “black Friday” was coined by Philadelphia police officer and journalist, Edward Downey in 1951, who used it to describe a chaotic traffic accident that happened on an icy Friday morning. The term was then adopted by retailers to refer to this particular day of heavy shopping, which is also known as “Big Friday.”