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Why is 'Black Friday' trending on Twitter?

Today is the day after Thanskgiving, which is known as 'Black Friday' across the pond.

Why does it have such a gloomy sounding name? Is it because all the Americans have to go back to work when they would rather be at home finishing the remains of the turkey?

No funnily enough it is said to hark back to 1960s Philadelphia when, on the day after Thanskgiving, the city would be plagued by traffic jams as shoppers took to the high streets.

Really?

Well another theory is that retailers traditionally operated at a financial loss for most of the year (January through November). The argument goes that retailers only begin making profit during the holiday season, which begins the day after Thanksgiving in the US. In other words, 'Black Friday' is the day when retailers are in the black (as opposed to the red).

So what's all the fuss about this year?

The level of spending on 'Black Friday' is often cited as a good indicator of overall consumer confidence.  With the US still facing the threat of recession, all eyes are looking to see if spending is picking up this year.

What about the other 'Black Fridays'?

Which one? There are quite a few. There was the 1869 Fisk-Gould financial crisis in the US. Then there was the 1939 day of devastating bushfires in Australia and the 1978 massacre of protesters in Iran to name a few other 'Black Fridays'. Good Friday is also known as 'Black Friday', as is the last Friday before Christmas.

So will there be lots of people shopping in the US today?

An estimated 152 million people are expected to shop over 'Black Friday' weekend, up 10 per cent from last year, if you believe some reports.

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