People gather at the Broadway entrance of Macy’s Herald Square store ahead of early opening for the Black Friday sales in Manhattan, New York. Dealing with heavy road traffic and chaotic pedestrians, a day after Thanksgiving, the Philadelphia police department coined the term ‘Black Friday’ in 1961. But the term ‘black’ was usually used in connotation with something negative like ‘Black Thursday’ denotes the Great Depression and ‘Black Monday’ denotes when the stock market witnessed the largest percentage drop in the history of stock market. Accountants record their profits in black and losses in red, therefore, Black Friday became the day to reflect the success of retailing and economy. Several online shopping portals celebrate Black Friday and offer sales and discounts on products for certain hours or days like Amazon Black Friday 2017 sale started at midnight November 24 and Amazon India too is hosting the day for its Global Store for India users.

Source: Indian Express November 24, 2017 07:07 UTC