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Economics: What is a black friday? |
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Hello.
I am reading a lot about black friday today and see many crazy people in supermarkets etc. This capitalism is crazy and I just wonder why is black friday called black?
| changed: mat (23rd Nov 2012, 8:25 PM) |
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In the United States, on the 4th Thursday of November they celebrate the Thanksgiving Day and the day after is called Black Friday. On this day, the big retailers open super early and offer merchandise at really low promotional prices. This is also considered to be the busiest shopping day of the year.
The name Black Friday originates from the year 1961 in Philadelphia where they described the heavy increase of traffic after the Thanksgiving using that phrase. Later on in the 1980's the term Black Friday got an alternative explanation; the Black Friday was time of the year where the retailers were no longer in red numbers (negative income) as they started to make the actual money also known as black numbers (positive income). For example in 2011 there were records sales around the Black Friday period in record breaking $11.4 billion.
Here you can see how this "shopping riots" can look like in a Black Friday Disasters video:
And a couple of Black Friday pictures from the Buzzfeed site:
| changed: mat (23rd Nov 2012, 10:51 PM) |
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And a little less known day is Cyber Monday, which is the first Monday after Black Friday. Cyber Monday term was "invented" by shop.org in 2004 to encourage people for online shopping.  |
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| I think this is insane. They should regulate this becouse I feel really sick watching this. |
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