In the U.S., the term "Black Friday" was first used to describe what? Plunging gold prices, historic holiday spending, Stock Market collapse or retail profit surge. Back in 1869, the U.S. gold market collapsed on "Black Friday".
REPORTER: "Black Friday". Sounds kind of scary and it was. "Black Friday" first referred to the collapse of the U.S. gold market in 1869. A century later, Philadelphia police used "Black Friday" to describe chaos and congestion. Downtown streets were clogged with hoards of shoppers headed to the big department stores.
Retailers hated the term but then tried to reinvent it. It was the day their profits went from red to black so they said. "Black Friday" really started catching on in the 80s' and 90s' pushed by the growth of big box stores. Today, it's all about bargains, and "Black Friday's" dark roots are for the history books.
AZUZ: Now "Small Business Saturday", "Cyber Monday" and "Giving Tuesday" are all on the shopping season calendar. But for "Black Friday" itself, a new record was set this year with American's spending $7.4 billion in online sales alone. Adobe Analytics said almost 40 percent of those sales were made through smartphones, indicating that shoppers will getting comfortable buying Christmas and holiday gifts on smaller screens.
Nerf and Paw Patrol toys, video games and the Nintendo Switch, Apple products and SamsungTVs, these are some of the most popular items sold online. There were also a lot of online purchases that were picked up in brick-and-mortar stores so people could bypass checkoutlines.
CNBC reports that this year's "Black Friday" was the second biggest online shopping day inhistory behind "Cyber Monday"of last year. But experts expect that today's "Cyber Monday" willset an all time online spending record.