Black Friday, the day after Thanksgiving known for its retail deals, is not a federal holiday in the United States. While many people view it as a holiday and take advantage of the discounts before the Christmas season, the government does not officially recognize it as such. Unlike federal holidays like Thanksgiving, banks and the United Postal Service remain open on Black Friday.
However, schools and colleges are an exception and often include Black Friday as part of their Thanksgiving break, giving students a four-day weekend. This is one of the few sectors in the country that takes the day off.
The origin of the name “Black Friday” has two popular explanations. The first is that it refers to retailers going from operating at a loss (“in the red”) to turning a profit (“going into the black”) on the day after Thanksgiving, thanks to the heavy spending by shoppers on discounted goods.
The second explanation dates back to the early 1960s when Philadelphia police officers used the term “Black Friday” to describe the chaos caused by suburban visitors flocking to the city for holiday shopping. The large crowds created difficulties for the police, who had to work longer shifts to handle traffic accidents and shoplifting incidents. Despite retailers trying to spin the name positively as “Big Friday,” the phrase “Black Friday” became widely used in the local community.
It wasn’t until the late 1980s that merchants started popularizing the red-to-black story for Black Friday, cementing its association with retail shopping on the day after Thanksgiving.
In terms of shopping, Black Friday is indeed the biggest day of the year in the U.S. According to the National Retail Federation, over 130 million people are planning to shop on Black Friday, a 69% increase from 2022. The second most popular shopping day is Cyber Monday, with 71 million people planning to take advantage of online deals.
Overall, an estimated 182 million people are expected to shop both in-store and online from Thanksgiving Day through Cyber Monday. Retailers have been preparing for this busy shopping period, as it marks a tradition for consumers to find the perfect gifts for their loved ones.
