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Black Friday 2021: Why is it celebrated?

07:57 AM Nov 25, 2021 | FPJ Web Desk

Black Friday is little known in India, but is popularly celebrated in the US and Canada.

What and when is Black Friday?

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Black Friday is a name used for two unrelated occasions. It is now most popularly used in the US to refer to the day after Thanksgiving, which is often considered the first day of the holiday shopping season and is known for featuring discounts from retailers.

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Black Friday is always the Friday after Thanksgiving, which is always the fourth Thursday in November. In 2021, Black Friday is November 26. In 2022, Black Friday is November 25.

The name Black Friday is also used to refer to September 24, 1869, the date of a financial panic in the US sparked by gold speculators.

Where did the term Black Friday come from?

While many people believe the term Black Friday finds its roots in the sense of black meaning “showing a profit; not showing any losses,” this isn’t actually the case.

Historically, black has been associated with days of economic stress as opposed to days of booming commercial success. The first Black Friday occurred in 1869 after financier Jay Gould and railway businessman James Fisk attempted to corner the gold market, which ultimately resulted in financial panic and the collapse of the market. A little over 60 years later, on October 29, 1929, another stock market crash referred to as Black Tuesday marked the onset of the Great Depression.

Also Read: Apple, Samsung products a hit among Black Friday shoppers

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