Real reason why the day after Thanksgiving is called Black Friday

Thanksgiving is fast approaching for those who celebrate it, with millions of Americans getting ready to consume their body weight in food over the next few days.

Everyone of course knows that the immediate aftermath of Thanksgiving sees the hugely popular sale that is Black Friday - an occasion that follows a day after Thanksgiving every year.

What is Black Friday?

Black Friday has become one of the busiest shopping days of the year in the US, with folks going mad over crazy deals on the likes of tech, fashion and even furniture.

While Black Friday deals tend to go on for the majority of November nowadays, there's no doubt the main day provides a lot of excitement for eager shoppers.

Black Friday follows Thanksgiving (Mike Kemp/In Pictures via Getty Images)

But have you ever thought why the sales day is known as Black Friday?

When was the term 'Black Friday' first used?

Well, the first use of the term 'Black Friday' actually began referencing a financial crisis in 1869 rather than a sales day.

Wall Street financiers Jay Gould and Jim Fisk worked together to purchase the nation's gold, hoping to see a huge return on their investment in the future.

But that conspiracy made its way into the public eye on September 24, 1869, leading to the stock market collapsing and bankrupting a lot of folks.

Why is the day after Thanksgiving known as Black Friday?

Britannica reports that it's believed the term 'Black Friday' originates from the concept that businesses operate at a financial loss.

But that is very much untrue.

Black Friday has been around for a while (Kena Betancur/Getty Images)

Instead, police officers in Philadelphia began using the phrase after many tourists came to the city to begin their Christmas shopping.

It wasn't until the 1980 when the phrase 'Black Friday' was used across the US, with it typically signifying the day when retailers turn profit for the year, as well as marking the biggest shopping day of the year.

Before this, retailers were seen as being in the 'red', with a supposed profit, 'going into the black', happening the day after Thanksgiving - hence the mad shopping day we see after the Turkey has been carved being dubbed 'Black Friday'.

While this may have been the case in the past, most stores usually record their biggest shopping day as the last Saturday before Christmas Day.