Here's why Black Friday is called Black Friday - and history of the huge November sales event

Although Black Friday is now established as the best day of the year to cash in on some pre-Christmas bargains, many shoppers don’t know the meaning behind the term.

A common assumption is that it comes from shops going from ‘the red’ into ‘the black’ due to a boost in profits during the sales, but the phrase has darker origins.

Here’s where ‘Black Friday’ comes from, and why it’s such a popular sales event.

What is Black Friday?

Black Friday is a weekend of huge price cuts, starting on the last Friday of November, the day following Thanksgiving celebrations.

Americans have taken advantage of the pre-Christmas sales since they became popular throughout the 1950s, with the day becoming the most successful of the year for retailers in the US.

The shopping extravaganza is now a firm favourite in the UK for consumers preparing for December 25, with Amazon, Argos, Currys and other big retailers slashing prices across tech, homeware and personal care, among many other products.

When is Black Friday this year?

Black Friday begins after Thanksgiving Day, and this year it will start on 27 November and last until the following Monday.

Where did the term ‘Black Friday’ come from?

Rather than being associated with sales and pre-Christmas bargains, Black Friday first came about due to a financial crash.

In Wall Street, financiers Jim Fisk and Jay Gould bought lots of gold, hoping that prices would skyrocket and that they’d be able to sell it for big profits.

However in September 1869 the price of gold crashed and they were left bankrupt, along with other Wall Street workers.