History of Black Fri­day

Cape Breton Post - - CAPE BRETON -

• Orig­i­nally coined to mark the crash of the U.S. gold mar­ket on Sept. 24, 1869.

• Al­though it was used to ref­er­ence a fi­nan­cial cri­sis, it is now most of­ten as­so­ci­ated with the re­tail sec­tor and hol­i­day shop­ping.

• It’s a term used to de­scribe how re­tail­ers, usu­ally op­er­at­ing an en­tire year at a loss, made huge prof­its the day fol­low­ing Amer­i­can Thanks­giv­ing due to mega sales and a hol­i­day shop­ping frenzy.

• The shop­ping bo­nanza has been some­what tem­pered in re­cent years by Cy­ber Mon­day, which is the Mon­day fol­low­ing Black Fri­day when on­line sales of­ten peak.

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