What is Black Friday? Read to know all about this day

Black Friday is the perfect way to kick-start your Christmas shopping while keeping a check on your budget with the incredible discounts available on products. After Thanksgiving, Black Friday is observed around the world. This time, it's happening on November 25. Black Friday History and significance:

Stores, e-commerce sites, and major brands flood our screens with advertisements as we move toward the week before Thanksgiving. The history of Black Friday is shrouded in numerous myths. Many people think that Black Friday earned its title because buyers at stores receive significant discounts and stop recording losses. People assumed that great bargains would result in them making large profits because gains are recorded in black and losses in red on accounting records.

The name is derived from the Philadelphia Police Department. As per reports, Black Friday has little to do with shopping. The phrase "Black Friday" was first used by Philadelphia's police departments in the 1950s to characterise the chaos that followed Thanksgiving. At that time, a football game would draw hundreds of suburban tourists into the city, which would be problematic for the police. At that time, the phrase was also used by numerous metropolitan businesses to describe long lines outside their stores and shopping craziness. The day was initially called "Big Friday" by business owners in 1961. But it was never a success. In 1985, the phrase became increasingly common across America. After 2013, Black Friday gained popularity all around the world.

Before the Christmas and New Year holidays, people try their hands at Black Friday deals. Even on the day of Thanksgiving, several retailers give offer discounts to customers. Online buyers don't even need to wait until after midnight to start their purchases. Both shoppers and shopkeepers for this Black Friday day.