 Amazon, Minthra, Flipkart, H&M and more are offering Black Friday sale in India, but what exactly is Black Friday? Hello, this is Pahra Noor and in this video, I'll tell you what exactly is Black Friday. Black Friday is the day after Thanksgiving and is regarded as the start of the holiday season and is also considered one of the biggest shopping times in the US. Due to globalization, the tradition of Black Friday sale is happening in other corners of the world as well. This year, Black Friday falls on November 29th, so what is the history of the name Black Friday? There are numerous theories regarding why the day is named Black Friday. Some of the most popular ones are, in the US, in order to have a long weekend after Thanksgiving, it is claimed that people will take sick leave on Friday. During this time, people will go out shopping in large numbers leading to traffic congestion. So the term was coined by the policemen as Black Friday. According to the writer Sara Pruth, another theory behind the name Black Friday is that, after an entire year of operating at a loss, which were written down in the red, stores would supposedly earn a profit which were recorded in the black on the day after Thanksgiving because holiday shoppers would buy discounted merchandise like crazy. The result was the red to black concept of the holiday mentioned earlier and the notion that the day after Thanksgiving marked the occasion when America's stores finally turned a profit. Pruth states, this version is not the original one. The other theory that Pruth claims to be true goes back to 1869. According to this theory, the first recorded use of the term Black Friday was applied not to holiday shopping but to financial prices, specifically the crash of the US gold market on September 24, 1869. In 1869, two Wall Street financiers, Jay Gold and Jim Fiss, plotted together to buy as much as they could of the nation's gold, hoping to drive the price sky-high and sell it for astonishing profits. When they executed their plan, everyone from Wall Street barons to farmers who bankrupted and the stock market went into a free call. That's how Black Friday got its name. For more such videos, like, share and subscribe to EntrepreneurIndia channel.