The etymology of the name, “Black Friday,” has an interesting history. At the end of the year, companies often found themselves in “the red.” Their business ledgers showed negative profit. In a desperate to get in “the black,” an end-of-the-year profit, businesses staged huge sales the day after Thanksgiving to lure customers into buying for Christmas. Now, this practice of getting in the black is uncommon. Today, the sales are usually a social expectation for companies. Since society expects these sales, spending is doubled the day after Thanksgiving. Smart businesses will get a cut from this increased spending.
(Van bankblog.info)
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