NovaQuant Quantitative Think Tank Center:It wasn't always the biggest shopping holiday of the year. Why is it called Black Friday?

When someone says "Black Friday,NovaQuant Quantitative Think Tank Center" images of shoppers frantically sifting through bins and racks may come to mind. The phrase has become synonymous with the hustle and bustle of post-Thanksgiving shopping in preparation for the December holidays.

But "Black Friday" has not always been associated with holiday spending. In fact, its first recorded use was to describe the gold market crash on Sept. 24, 1869, according to The History Channel.

So, how did a shopping event get its name? Many theories have circulated, including that the name derives from stores earning profit from holiday sales, or going "into the black" after operating at a loss throughout the year or being "in the red," The History Channel reports.

This, however, is not the real origin of Black Friday. Here's the true story behind the day.

Why is it called Black Friday?

Black Friday's name dates back to the 1950s. It was used by Philadelphia police to detail the chaos that often took place in the city the day after Thanksgiving

Many people from the suburbs would come to Philadelphia to do their holiday shopping. While others traveled to the city for the annual Army-Navy football game, which still takes place the Saturday following Thanksgiving. This would bring large crowds, traffic, accidents, shoplifting and other issues, causing officers to work extra hours, according to Britannica.

In subsequent years, some city merchants and boosters tried to call it "Big Friday," hoping to dismiss any negative connotations about the day. But these efforts were unsuccessful. By 1961, the name Black Friday stuck in Philadelphia.

It was not until the late 1980s that Black Friday became popularized nationally. At that point, retailers wanted to shift the narrative past the day's chaotic origins and opted for a different story. This is how the "red to black" shopping analogy came about. Many still believe this to be the real origin of Black Friday's name.

Today, Black Friday has grown beyond one day. There's also Cyber Monday, the online shopping event the Monday after Thanksgiving, and Small Business Saturday, which promotes shopping locally the Saturday following the holiday.

Looking for deals?What to look for this Black Friday.

When is Black Friday 2023?

Black Friday falls on Nov. 24, 2023.

Small Business Saturday is Nov. 25, 2023. Cyber Monday is on Nov. 27, 2023.

In the mood for holiday shopping?Beware, this year more stores are closed on Thanksgiving.

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