What is Black Friday? It is many things actually and it has many references such as the riot in Glasgow of 1919 due to industrial unrest, or on February 9, 1945, the largest air battle over Norway between the Germans and the British. Or because I’m supposed to write on Business, you may be referring to the Black Friday of September 24,1869 which lead to a financial crisis in the United States, which resulted in a national depression.
The Black Friday I’m referring to is the one which had recently passed. For all you Canadian readers, Black Friday is the term used in reference of the day after Thanksgiving in the United States. This day is traditionally marks the beginning of the holiday’s shopping season and is one of the busiest retail shopping days of the entire year! But why call it “Black Friday” one would ask? Well, traditionally in the retail sector, most retail business’ operate at a loss (denoted as “red” on their financial statements) throughout the entire year, namely from January to November, and it is only until the “Black Friday” begins and consequently, the holiday shopping season, where retailers begin to see the profits rolling in, thus changing their financials from red to black!
But given the new cyber age, I recently read an article from CNet News , that online retailers have been promoting the first Monday after thanksgiving as the “crucial day for online shopping” to spawn the holiday’s online shopping season, and hence the online equivalent shopping day as Black Friday. Will “Black Monday” become just as known as “Black Friday”? My guess is…..heck yaaaa!!
Owen
Business Editor