Black Friday
Black Friday
Black Friday Sept. 24, 1869, in U.S. history, day of financial panic. In 1869 a small group of American financial speculators, including Jay Gould and James Fisk , sought the support of federal officials of the Grant administration in a drive to corner the gold market. The attempt failed when government gold was released for sale. The drive culminated on a Friday, when thousands were ruined—the day is popularly called Black Friday. There was great indignation against the perpetrators. Several other days of financial panic have also been occasionally referred to as Black Friday.
“Black Friday” The Columbia Encyclopedia, Sixth Edition. 2008. Encyclopedia.com. 12 Nov. 2009 <http://www.encyclopedia.com>
The day as we all know it, is the day after thanksgiving. The biggest shopping day of the year and marks the first day of the holiday season. So why is this great day of savings associated with such a negative financial ruins? The term black Friday as it relates to shopping began in the mid-to-late ’60’s, associated with retailers and media to mark the beginning of the period in which they go from being in the red (negative) to being in the black (i.e., Turning a profit).
As that may be true, since Macy’s started the famous thanksgiving parade in 1924, many other retailers have followed. using a parade to advertise and kick off the Christmas shopping holiday. Today, black Friday is the first official shopping day of the holiday season, but we most equate it to SAVINGS! Its been a tradition for some time now that retailers slash heavy prices items by as much as 50% just to lure you in the doors. People wait in lines all through the night, and riot through mall to gather up all the potential saving they can find. the day has become a shopping frenzy and probably will continue to be as long as retailers provide us with great reason to be shopping fanatics.
