Many of us, especially those who have kids, have braved the crazy lines and ridiculous mall traffic to find that “amazing” deal on a cabbage patch kid, TV, computer or other must have for Christmas item. I’m not sure of this year’s “must have” item is but I am sure it is made of plastic and the kids will be done playing with it by January 8th.
Now as you’re digesting your turkey and sifting through the circular and preparing your strategy for shopping domination have you thought about where the term “Black Friday” came from? What does “Black Friday” really mean?
Since the start of the modern Macy’s Thanksgiving Day Parade in 1924, the Friday after Thanksgiving has been known as the unofficial start to a bustling holiday shopping season. In the 1960s the day was coined Black Friday. The “Black” refers to stores moving from “red” to the “black” when accounting records were kept by hand and red ink indicated a loss, and black a profit.
Black Friday also has a more ominous meaning. In the 1960’s, police in Philadelphia griped about the congested streets, clogged with motorists and pedestrians, calling it “Black Friday.” Black Friday also has a financial connotation. September 24, 1869, was deemed Black Friday when a crash was sparked by gold speculators, including Jay Gould and James Fist, who attempted to corner the gold market. The attempt failed and the gold market collapsed, causing the stock market to plummet.
Black Friday has morphed over the years and will continue to change with the increased prevalence of the internet and online retailers. So as you digest your turkey and begin to search the circulars for your must have deal. Think for a moment about budgeting your holiday spending. If you find yourself paying off your credit cards well into Spring for your Christmas gifts consider the other things that money could be better used for.
Don’t get caught up in the hustle and bustle and spend more than you can afford.
Don’t turn the retailers Black Friday into your own personal Red Friday.
A Thought From The Factory on Main
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.