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The Day After Thanksgiving (Friday) is known as Black Friday. This used to be unofficially or officially the start of holiday shopping season.
Yes, Black Friday is NOT a Federal Holiday in the USA. Most banks are open on Black Friday.
46% of consumers said they’d shop online on Black Friday.
Closest reason is given in Wikipedia – “Many retailers report some of their highest profits on Black Friday. The black portion of the name, “Black Friday” relates to businesses recording their losses in red ink and gains in black.
Yes, Thanksgiving Day is a Federal Holiday in the USA. Because of this, most banks are closed on Thanksgiving Day.