NOVEMBER 27, 2008: BLACK FRIDAY

We have all heard of Black Friday as the day that retailers turn a profit…putting their accounts in black figures. (In accounting, red ink is used for losses and black ink is used for gains). There is some controversy as to the origins of the term “Black Friday.” Many people believe that it is in reference to the profits. However, the earliest usage of this term comes from Philadelphia in 1966…and it was for a much different reason.“Black Friday” was coined by the Philadelphia Police Department in reference to the chaos in the stores and on the streets that holiday shoppers bring the day after Thanksgiving. This was uncovered by Martin Apfelbaum, the owner of a stamp store in Philadelphia. In an article in the January 1966 issue of “The American Philatelist,” a periodical for stamp collectors, he writes:"'Black Friday' is the name which the Philadelphia Police Department has given to the Friday following Thanksgiving Day. It is not a term of endearment to them. 'Black Friday' officially opens the Christmas shopping season in center city, and it usually brings massive traffic jams and over-crowded sidewalks as the downtown stores are mobbed from opening to closing.This year proved to be no exception -- especially at Apfelbaum's. The pace was hectic and the traffic was heavy. Here's a capsule report of how Apfelbaum's weathered 'Black Friday'..."It wasn’t until the 1980s that the “black ink theory” started to become popular amongst shoppers. Many people found it as a more pleasant reasoning. Days dubbed “Black” usually refer to awful circumstances (such as Black Tuesday – the day of the Stock Market Crash, and Black Easter – the day President Lincoln died). With people doing holiday shopping, why should it also be an awful day? Yes, the traffic and lines may be awful…but perhaps not as bad in comparison to the tragic events above. It seems natural that people would be happier with the “black ink” explanation. The awful origins, however, seem to be fading with time.