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Let’s take a look at the origin and history of Black Friday, a representative shopping day in the United States.
Black Friday is the fourth Thursday of November, the day after Thanksgiving Day in the United States, and is the largest and most representative shopping day in the United States.
[Four origins of Black Friday]
In the United States, shopping has long been established on the day after Thanksgiving.
This began on October 3, 1863, when President Lingkhun declared Thanksgiving Day a national holiday on the last Thursday of November. (December 26, 1941, President Roosevelt made Thanksgiving Day a little clearer on the fourth Thursday of November.)
Friday developed into a huge shopping day called Black Friday as many companies and workplaces popularized Thanksgiving holidays on Friday, matching the demand for year-end gifts and retailers to handle inventory.
Anyway, the meaning of Black Friday can be interpreted as a nightmare Friday, and there are many stories about the origin of Black Friday.
There was something related to Shopping Day, and it was also a word referring to a characteristic event. Let’s listen to a few typical things.
1. Black Monday is more famous recently in connection with the financial market shock caused by the stock crash, but Black Friday was more famous in the past. On Friday, September 24, 1869, two gold traders, James Fisk and Jay Goodra, plunged the stock market by about 20% and other asset prices by more than 50%, causing a huge financial crisis. At this time, Wall Street called it Black Friday.
2. Since people flock to shopping from the day after Thanksgiving, retailers are suffering from deficits all year round with huge sales. It is a theory that the day was called Black Friday because it was in the black from Friday. In the bookkeeping, the deficit was written in red and the surplus in black, so it was called Black Friday, meaning Friday, when the surplus began to rise.
3. Some argue that it is a term related to slavery.
There is a theory that plantation farmers in the southern United States in the 1800s called Black Friday because they disposed of slaves at a low price because they didn’t have to work for the time being on the day after Thanksgiving. This is what history.com claims.
4. In Philadelphia in the 1960s, there was a match between the Army and the Navy on Sunday after Thanksgiving, and during that period, a huge crowd of shoppers and tourists flocked to Philadelphia, causing traffic jams and incidents, so Philadelphia police started calling it Black Friday.