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Bangla Insider

Stories behind ‘Black Friday’

International desk
Published on : 24 November 2017, 04:58 PM
Stories behind ‘Black Friday’

The term "Black Friday" could refer to the only day of the year when retail companies finally go "in the dark," it means they make profits. The day after Thanksgiving is, of course, when crowds of turkey-stuffed customers head to stores countrywide to take advantage of the biggest holiday deals of the season.

The trend of celebrating Black Friday by offering big sales has come in Bangladesh too. It happened when some online shopping sites started to offer various products at the minimum price on that day. Not to mention, but it got massive response from the people, especially from the young generation who tends to spend more time on the internet than the older generations.

In general, Black Friday is not black at all. On the contrary - this is one of the brightest days of the year for almost all Americans except those who work in shops during this holiday. It is a bright day because people can buy products at very low price. For some, this is an opportunity to purchase an expensive and long-cherished thing finally. For others- it`s a chance to earn some money by buying something at a huge discount and later reselling with a profit on the eBay auction.

Well, for most people, it is just an excellent opportunity to save a lot of money even on the most regular purchases.

But the real story behind Black Friday is a little more complicated and darker than that.

The first use of the term "Black Friday" was not about holiday shopping but the financial crisis when two ruthless Wall Street financiers Jay Gould and Jim Fisk tried to corner the gold market. They decided to buy and store as much gold as they could and then sell them at a high price. But when it was revealed on Friday, September 24, 1869, it caused a drop in the stock market, and the rate of Gold fell drastically.

 In recent years, another myth has emerged. It gives a gruesome twist to tradition, claiming that in the 1800s, southern planters could buy slaves enjoying discounts the day after Thanksgiving. Although this version of the origin of Black Friday has naturally led some people to call for a boycott of the holiday of retail, it remains that this story has no basis.

However, the actual story behind Black Friday is not as impressive as the sellers might have you believed. In the 1950s, the Philadelphia police used this term to describe the chaos that followed the day after Thanksgiving, when hordes of local buyers and tourists flocked to the city before the big football match.

Not only that the police were not able to take leave on that day, but they had to work in long hours in control the extra traffic. Shoplifters could also profit from the ruckus in the shops to flee with the merchandise, adding new concerns to the police.

Bangla Insider/ZRM