Why Is It Called Black Friday?

The Origins of Black Friday

Black Friday has become one of the most well-known shopping days worldwide, but have you ever wondered why it is called “Black Friday”? The name, which seems peculiar initially, is steeped in rich history and cultural shifts that have influenced modern consumerism. To understand this, we need to dive back into the term's origins and explore how it transformed into what we know today.

Early Uses of the Term “Black Friday”

The term “Black Friday” was not always associated with shopping. Its earliest usage dates back to the financial crisis of 1869 in the United States. On September 24 that year, two infamous financiers, Jay Gould and James Fisk, attempted to corner the New York Gold Exchange gold market. Their scheme ultimately failed, causing gold prices to plummet and resulting in a market crash that brought financial devastation to countless Americans. This event was later referred to as “Black Friday” due to the darkness it brought to the economy.

Philadelphia’s Influence on Black Friday

The association of Black Friday deals with shopping traces back to Philadelphia in the 1950s and 1960s. During this time, the police in Philadelphia coined the term to describe the chaotic day after Thanksgiving. The city would be overrun with crowds of shoppers and tourists arriving in anticipation of the annual Army-Navy football game, held on the Saturday after Thanksgiving. The day before the game became notorious for massive traffic jams, crowded sidewalks, and an overall sense of disorder. Police officers, who had to work long hours to control the crowds, began referring to it as “Black Friday” because of the strain it placed on them.

The Retail Industry’s Spin on Black Friday

Retailers, however, did not want the day to carry negative connotations. During the 1980s, a more positive explanation emerged that helped reshape Black Friday into a shopping holiday. According to this new narrative, the term “Black Friday” represented the point at which retailers went from being “in the red” (recording losses) to “in the black” (making a profit). In accounting, red ink was historically used to indicate negative earnings, while black ink signified positive earnings. Thus, the day after Thanksgiving became associated with the moment retailers finally turned a profit for the year.

Why the Day After Thanksgiving?

The timing of Black Friday is strategic. Thanksgiving Day, a holiday of gratitude and family gatherings, marks the beginning of the festive season. For decades, the day after Thanksgiving became the unofficial start of holiday shopping, as it provided an extended weekend for families to begin buying gifts. Retailers, aware of this consumer behavior, capitalized on the opportunity to lure shoppers with massive discounts and doorbuster deals, turning Black Friday into a major shopping event.

Black Friday’s Evolution in the Digital Age

With the advancement of technology, Black Friday has transcended from a single-day event to a global shopping phenomenon. The rise of online shopping and e-commerce platforms has played a crucial role in this transformation. Retailers now offer week-long or even month-long sales events, and the digital counterpart, “Cyber Monday,” has gained prominence as the online shopping version of Black Friday.

The Role of E-Commerce and Changing Trends

In recent years, the traditional chaos of in-store shopping has been complemented, and in some cases, replaced, by the convenience of online deals. Retail giants like Amazon and Walmart have revolutionized how people shop, making it easier for consumers to participate in Black Friday sales without having to leave their homes. Mobile shopping apps, exclusive online discounts, and early access to sales have further fueled this change.

Moreover, trends like “Black Friday Month” have emerged, as businesses spread out their sales to avoid overwhelming demand and manage inventory more efficiently. These extended sales periods also cater to consumers who prefer a less frantic shopping experience.

Black Friday Around the World

While Black Friday originated in the United States, it has now spread to numerous countries around the globe. Countries like Canada, the United Kingdom, Australia, and even nations in Asia and Africa have embraced the shopping holiday. However, some regions have adopted unique variations of Black Friday to align with local cultural practices. For example, in the UK, Boxing Day (December 26th) was traditionally the big shopping day, but Black Friday has gained traction over the years.

Criticisms and Concerns Surrounding Black Friday

Despite the excitement surrounding Black Friday, the shopping holiday has not been without controversy. Critics point to the environmental impact of excessive consumerism, with concerns about the waste generated by mass consumption. The day has also raised issues related to labor conditions, as retail employees often endure long hours and stressful work environments during the holiday rush.

Moreover, the aggressive shopping culture has led to dangerous situations. Incidents of violence, stampedes, and injuries in crowded stores have cast a shadow over Black Friday, prompting discussions about consumer behavior and the ethical responsibilities of retailers.

Conclusion

Black Friday has undoubtedly evolved from a day of economic despair into a major retail event celebrated worldwide. Its complex history, from financial crises to football games, reflects the changing dynamics of American culture and the global influence of consumer trends. As we continue to navigate an era of digital commerce and environmental awareness, the meaning of Black Friday continues to adapt to the times.