The season of Thanksgiving brings smiles along. However, another reason to be thrilled during the holiday are the generous deals retailers provide to customers. This is the time of the year when you can buy something for yourself or give your loved ones presents within your budget. In short, it is a great way to celebrate the holidays.

Black Fridays and Cyber Mondays are the annual events shoppers can't resist as there are a plethora of sale going on! But, wait, what is the story behind these big deal days? 

History of Black Friday and Cyber Monday

The term Black Friday seemed to have originated from different roots. Yet, there are similarities how the word "black" is described. According to history, the first Black Friday occurred in 1869, when Jay Gould, a financial speculator along with railway businessman James Fisk attempted to corner the gold market.

They bought as much gold as they could, driving up gold prices by more than $30 an ounce. On Friday, Sept. 24, 1869 prices plummeted, investors went bankrupt quickly, resulting in financial panic and the market collapse. 

In the early times, people associated black with disaster or misfortune. During the 1950s, factory managers started calling the Friday after Thanksgiving as Black Friday, because workers falsely called in sick in order to to extend their holiday.

Philadelphia traffic cops also used Black Friday to describe the busy day after Thanksgiving. They had to work on 12-hour shifts because of terrible traffic. Sometimes this day coincides with the annual Army-Navy football game. 

Meanwhile, Cyber Monday is a term coined by Ellen Davis, senior vice president of research and strategic initiatives for the National Retail Federation (NRF), in 2005. NRF had consecutive reports of high online revenue and traffic on Monday following Thanksgiving day. The organization believes that people are bound to make purchases online on this day. It is more like an after-effect of Black Friday. 

Why Black Friday and Cyber Monday are popular?

Black Friday is popular in the U.S. and refers to the day following Thanksgiving. Many discounts and great deals flow endlessly. It is the time of the year when retailers feature attractive discounts that are too good to ignore. 

Cyber Monday is the most awaited day for online shoppers. Nowadays, especially with the pandemic, shopping online is the go-to source of buying stuff. Business owners usually offer one-of-a-kind online deals and promotions during this day. A substantial increase in online sales has been reported during Cyber Mondays. 

When is Black Friday and Cyber Monday?

Black Friday is always the Friday after Thanksgiving (celebrated on the fourth Thursday of November). This year, Black Friday is on Nov. 26. However, Cyber Monday falls on Nov. 29 this year, the first Monday after Thanksgiving. 

A sign that reads, "Cyber Monday sale" is posted outside a store A sign that reads, "Cyber Monday sale" is posted outside a store in Kips Bay on December 04, 2020 in New York City. Many holiday events have been canceled or adjusted with additional safety measures due to the ongoing coronavirus (COVID-19) pandemic. Photo by Noam Galai/Getty Images