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Why Do They Call It Black Friday?
Most people have the day after Thanksgiving off, and that means it is a great day for shopping. Pile in the fact that the holiday season has officially started, add motivated retailers with marketing prowess, and you’ve got a recipe for a semi-official holiday: Black Friday. But why is it called that? Black has historically been a color not viewed as especially positive:
You’ve got Black Thursday, October 24, 1929—the day heralded as the start of the Great Depression.
Then there’s Black Monday, October 19, 1987, when stock markets around the world crashed.
Black Wednesday—not as well known in the States, but in the United Kingdom is infamous for the date of September 16th, 1992. That’s when the pound sterling was withdrawn from the European Exchange Rate—and cost the UK £3.4 billion.
You’ve even got the Italian gothic horror film Black Sunday, whose plotline is anything but cheery.
We could go on. But if you’re an accountant, black ink is a good thing. It means ‘profit,’ and retail lore says that Black Friday marks the first day where stores by and large pass their breakeven point and begin operating out of the ‘red’ and into the ‘black.’ In other words, after toiling all year long to pay expenses, most retail profits depend on the period between Thanksgiving and the end of the year.
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