by Colin McIntosh
Traditionally in the US, people’s minds start turning towards the holidays after Thanksgiving (the fourth Thursday in November). That’s not your summer holidays, as Brits might understand it, but the December pile-up of religious and secular festivities that represents the high point of consumer spending, not just in the US, but in many countries around the world.
With Thanksgiving out of the way, Americans feel free to concentrate on preparing for Christmas, Hanukkah, Kwanzaa, or other festivals, as well as the New Year, and that usually involves a heavy dose of spending. The custom dates back a long way, but in the 1970s marketing people introduced the term Black Friday. This refers to the Friday after Thanksgiving, when shops reduce the price of goods in order to attract customers who want to start their gift shopping, or, in other words, to kick-start the spending season:
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