It makes no sense whatever outside the US, and it doesn't even make much sense here any more. In a real sense it's an outdated term because the start of the Christmas shopping season actually starts around Halloween, and Black Friday is the most over-used phrase I've heard this year. It isn't "Black Friday savings" if it occurs before Black Friday, it's just a regular sale with a little holly on it.

Regardless, I try not to shop on that day. I used to have to work it and it was the most nightmare-ish nightmare. And I worked in a fairly civilized department store. I'm glad to have gotten out of the retail game before they started opening on Thanksgiving Day.