What is Black Friday? You need to know about Black Friday 2023

Black Friday is the Friday following Thanksgiving in the United States. It is traditionally the start of the Christmas shopping season, and many stores offer highly promoted sales at discounted prices and often open early, sometimes as early as midnight or even on Thanksgiving.

The History of Black Friday

The exact origin of the term "Black Friday" is uncertain, but there are two main theories.

The accounting theory: This theory holds that the term originated from the practice of retailers using black ink to record profits and red ink to record losses. In the days before computers, retailers would often have a negative balance, or be "in the red," until the holiday shopping season, when they would finally make enough sales to turn a profit, or go "into the black."

The police theory: This theory states that the term originated from the heavy traffic and congestion that occurred in Philadelphia on the Friday after Thanksgiving. The city's police officers began to refer to the day as "Black Friday" because of the chaos it caused.

Regardless of its origins, Black Friday has become one of the biggest shopping days of the year in the United States. In 2023, Black Friday sales reached an estimated $9.12 billion, according to Adobe Analytics.

Here are some of the reasons why Black Friday is so popular:

Discounts: Stores often offer significant discounts on a wide variety of merchandise, making it a great time to save money on holiday shopping.

Doorbuster deals: Many stores offer "doorbuster" deals, which are limited-time offers on deeply discounted items. These deals can draw large crowds of shoppers and can sometimes lead to chaotic scenes.

The excitement of the hunt: Many people enjoy the thrill of the hunt for Black Friday deals. It can be a fun and competitive experience to try to find the best deals.

However, Black Friday is not without its critics. Some people argue that the day is too commercialized and that it can lead to stressful and even dangerous shopping experiences. Others argue that the discounts are not as good as they seem and that many stores simply raise their prices before Black Friday so that they can offer discounts that look more appealing.

Despite the criticisms, Black Friday remains a popular shopping day. It is a time for many people to get their holiday shopping done early and to take advantage of some great deals.