Black Friday shopping - additional information
Black Friday refers to the day after Thanksgiving, which is celebrated on the fourth Thursday of November in the United States. The term was supposedly coined by the Philadelphia police department in 1966 because of the traffic and chaos created by shoppers who flocked into the city — a “black” day for a Philadelphia policeman. The origin of this expression has been frequently misinterpreted as the day retailers would turn a profit (since they used to record losses in red ink and profits in black). Nevertheless, retail companies and shoppers alike have since then incorporated this expression. This shopping holiday became widespread over the years, even gaining popularity in Canada, the United Kingdom and several other countries.
In 2017, some 28 percent of U.S. consumers stated that they were very likely to go shopping in a physical store on Black Friday/Cyber Monday. About 29 percent of U.S. consumers said that they want to take advantage of the special doorbuster deals on the Friday after Thanksgiving. In 2016, the majority of U.S. consumers who were planning to make in-store purchases during the Thanksgiving holiday weekend named Black Friday as their shopping day.
Online retailers have also benefitted from this buying frenzy, which gave rise to the online shopping trend, Cyber Monday. In 2016, online retail spending on Thanksgiving Day, Black Friday and Cyber Monday amounted to approximately 5.9 billion U.S. dollars.