Black Friday, the day after Thanksgiving, has become synonymous with massive discounts, crowded stores, and the unofficial kickoff to the holiday shopping season. But how did this phenomenon come to be? Its origins are more complex than you might think, involving financial crises, marketing genius, and cultural evolution.
The 19th-Century Financial Crisis
The term "Black Friday" was first used in a completely different context—**a financial scandal**. On September 24, 1869, two Wall Street speculators, Jay Gould and James Fisk, tried to corner the U.S. gold market. Their scheme caused a market crash, leading to financial chaos. The day was labeled "Black Friday" to signify the economic despair. While unrelated to shopping, this event marked the first time the term was linked to negative events.
The Philadelphia Connection
The modern association of Black Friday with shopping dates back to the 1950s in Philadelphia. Police officers used the term to describe the chaos that ensued the day after Thanksgiving.
Suburban shoppers would flood the city for pre-holiday sales and attend the Army-Navy football game held that weekend.
The influx of people created traffic jams, overworked police, and a surge in shoplifting. For law enforcement, it was a "black" day.
Retailers Spin the Narrative
Retailers didn’t like the negative connotation, so in the 1980s, they began rebranding Black Friday.
They tied it to the concept of **“being in the black”**—an accounting term meaning a business is profitable (as opposed to “being in the red,” which signifies a loss).
This shift reframed the day as a positive opportunity for stores to turn a profit and for customers to snag great deals.
The Rise of Shopping Culture
By the late 20th century, Black Friday had cemented its place as a key retail event. Several factors contributed to its growth:
Expansion of Big Box Stores: Chains like Walmart and Target began offering steep discounts to draw crowds.
Media and Marketing: Ads promoted "doorbuster" deals, creating a sense of urgency and exclusivity.
Cultural Traditions: Black Friday became a ritual for many families, extending Thanksgiving celebrations into a shopping spree.
Black Friday Goes Global
In the 2000s, Black Friday became a worldwide phenomenon:
With the rise of e-commerce, companies like Amazon began offering online Black Friday deals, making the event accessible to a global audience.
Many countries that don’t celebrate Thanksgiving have adopted Black Friday as a shopping holiday, blending local traditions with American-style retail practices.
Black Friday Today
Today, Black Friday has evolved further:
Cyber Monday emerged as the online shopping counterpart, offering digital deals the Monday after Thanksgiving.
The event has extended into a week—or even a month—of sales, blurring the lines between Black Friday and the holiday season.
Critics highlight concerns like consumerism, environmental impact, and the stress on retail workers, but the event remains a cornerstone of modern shopping culture.
Black Friday has come a long way from its roots in financial scandal and police slang. Its evolution reflects broader changes in society, from the rise of consumer culture to the power of marketing to shape narratives. Whether you love the thrill of the hunt for deals or prefer to avoid the chaos, Black Friday remains a fascinating piece of modern history.
What’s your Black Friday tradition? Share in the comments!
