BLACK Friday is a day when shops discount their products in efforts to make people splash their cash.
But how did the annual tradition come about, and how did it get its name?
What is Black Friday?
On Black friday retail prices heavily decrease for 24 hours in an attempt to get people to splash the cash in the run-up to Christmas.
In the States customers often queue for hours, even days to get their hands on the best bargains.
The hoards of people are more reserved in the UK, with the majority of Brits opting to shop online in more recent years.
But unfortunately, the shopping mania has been known to descend into violence in the UK, as people argue over discounted gadgets and appliances.
Why is it called Black Friday?
The day was given its name as it is often the day that shops “move into the black”, meaning they have enough money to cover their costs while reducing prices.
Where did Black Friday come from?
Black Friday has two relevant meanings. The more contemporary one refers to the day after the U.S. Thanksgiving holiday, which has also traditionally been a holiday itself for many employees; a day full of special shopping deals and heavy discounts, it’s considered the kickoff of the holiday shopping season.
In history, Black Friday was a stock market catastrophe that took place on Sept. 24, 1869. On that day, after a period of rampant speculation, the price of gold plummeted and the markets crashed.