In the United States, the day following Thanksgiving has metamorphosed into the shopping extravaganza known as Black Friday, an annual spectacle where chain stores and brands entice shoppers with steal deals and discounts both in-store and online. While the common belief links the term ‘Black Friday’ to businesses shifting from financial losses to profits, the real history of this shopping day has a darker narrative.
So, while you get your wishlist ready and indulge in some retail therapy with cool Black Friday sales and deals, let’s trace the real history of Black Friday.
The origin: Where did the term ‘Black Friday’ come from?
Contrary to what retailers may have you believe, the true origin of Black Friday is a lot more ominous, including days marked by disaster, misfortune and economic stress.
The first Black Friday occurred on September 24, 1869, when financiers Jay Gould and James Fisk attempted to corner the gold market, triggering financial panic and a market collapse across the US. Fast forward to October 29, 1929, marked as Black Tuesday, and the onset of the Great Depression.
Then in the 1950s, the phrase was actually coined by factory managers who dubbed the day Black Friday after Thanksgiving when numerous workers called in sick, extending the holiday weekend. A decade later, Philadelphia traffic cops adopted the term due to gruelling 12-hour shifts in congested traffic as holiday shoppers and Army–Navy football game attendees swarmed the city. The phrase gained traction in Philadelphia, gradually permeating the national sentiment. However, the idea of Black Friday, as we know it today, took shape much later.
In business terms, “in the black” and “in the red” indicate profits and losses, respectively. In the 80s, people started calling the day Black Friday due to how profitable it would end up being for businesses.
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When is Black Friday?
Black Friday, a term now synonymous with irresistible discounts and shopping sprees, encapsulates two distinct events. In the U.S., it predominantly refers to the first Friday after Thanksgiving, symbolizing the commencement of the holiday shopping season. This year, Black Friday is on November 24.
Navigating the season’s shopping calendar
Black Friday marks the beginning of a sequence of unofficial shopping holidays ushering in the festive season. Following Black Friday, Cyber Monday and Small Business Saturday join the retail space, providing diverse opportunities for consumers. Concurrently, Giving Tuesday, occurring on the Tuesday after Thanksgiving, steers attention towards charitable causes, urging individuals to donate or volunteer in the spirit of making holidays happier for everyone.
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Frequently Asked Questions (FAQs)
– What is the history of Black Friday?
Black Friday originated in 1869 after a gold market manipulation led to financial panic. The term gained traction in the 1950s when it began to signify days of disaster or misfortune. Its association with the post-Thanksgiving shopping spree, deals and discounts solidified only in the 1980s.
– When is Black Friday celebrated?
Black Friday is always observed on the Friday following Thanksgiving. In 2023, Black Friday is on November 24.
