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What Is The Origin Of Black Friday Sales? - Phones - Nairaland

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What Is The Origin Of Black Friday Sales? by lewispius: 8:33pm On Nov 26, 2016
Came across this photo online
don't know how true it is.

Nlanders
What is the origin of black Friday Sales??

cc:lalasticlala

Re: What Is The Origin Of Black Friday Sales? by usibengate(m): 9:34pm On Nov 26, 2016
are u kidding me, like serious?
Re: What Is The Origin Of Black Friday Sales? by samsam2019: 10:02pm On Nov 26, 2016
Are you just knowing this?
Re: What Is The Origin Of Black Friday Sales? by PhonePlanet(m): 2:08pm On Nov 27, 2016
For centuries, the adjective "black" has been applied to days upon which calamities occurred. Many events have been described as "Black Friday", although the most significant such event in American History was the Panic of 1869, which occurred when financiers Jay Gould and James Fisk took advantage of their connections with the Grant Administration in an attempt to corner the gold market. When President Grant learned of this manipulation, he ordered the treasury to release a large supply of gold, which halted the run and caused prices to drop by eighteen percent. Fortunes were made and lost in a single day, and the president's own brother-in-law, Abel Corbin, was ruined.
The earliest known use of "Black Friday" to refer to the day after Thanksgiving occurs in the journal, Factory Management and Maintenance, for November 1951, and again in 1952. Here it referred to the practice of workers calling in sick on the day after Thanksgiving, in order to have a four-day weekend. However, this use does not appear to have caught on. Around the same time, the terms "Black Friday" and "Black Saturday" came to be used by the police in Philadelphia and Rochester to describe the crowds and traffic congestion accompanying the start of the Christmas shopping season. In 1961, the city and merchants of Philadelphia attempted to improve conditions, and a public relations expert recommended rebranding the days, "Big Friday" and "Big Saturday"; but these terms were quickly forgotten.[8][9][64][65]
Use of the phrase spread slowly, first appearing in The New York Times on November 29, 1975, in which it still refers specifically to "the busiest shopping and traffic day of the year" in Philadelphia. Although it soon became more widespread, the Philadelphia Inquirer reported in 1985 that retailers in Cincinnati and Los Angeles were still unaware of the term.[66]
As the phrase gained national attention in the early 1980s, merchants objecting to the use of a derisive term to refer to one of the most important shopping days of the year suggested an alternative derivation: that retailers traditionally operated at a financial loss for most of the year (January through November) and made their profit during the holiday season, beginning on the day after Thanksgiving.[8] When this would be recorded in the financial records, once-common accounting practices would use red ink to show negative amounts and black ink to show positive amounts. Black Friday, under this theory, is the beginning of the period when retailers would no longer be "in the red", instead taking in the year's profits.[8][66][67] The earliest known published reference to this explanation occurs in the Philadelphia Inquirer for November 28, 1981.[68]
In 2013, an internet rumor alleged that the phrase originated in the American south before the Civil War, from the practice of selling slaves on the day after Thanksgiving. This was debunked by Snopes.com in 2015.[64] Although the concept of a national day of thanksgiving originated in the time of George Washington, it was not until 1863 that President Lincoln declared an annual holiday to be celebrated on the last Thursday (now the fourth Thursday) in November; and this proclamation would have been ignored in the Confederacy until after the Civil War.[69]

https://en.m.wikipedia.org/wiki/Black_Friday_(shopping)

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