The Untold History of “Black Friday”

The Dark Roots of This Holiday Tradition

The term "Black Friday" didn't originally signify shopping, but rather a financial crisis with historical consequences.

In 1869, Wall Street financiers Jay Gould and Jim Fisk attempted to manipulate the gold market, a daring move that resulted in a catastrophic stock market crash on September 24.

This orchestrated scheme sent shockwaves through the nation, bankrupting everyone from Wall Street barons to everyday farmers.

Retailers in the Red

Contrary to popular belief, the widely circulated notion that Black Friday originated from retailers operating "in the red" all year until the day after Thanksgiving is inaccurate.

The real story dates back to the early 1960s in Philadelphia, where the term was first used to describe the chaos caused by post-Thanksgiving shopping. The financial terminology was later adopted as a creative explanation, leading to the false but officially sanctioned narrative that stores went from operating at a loss ("in the red") to turning a profit ("in the black") on Black Friday.

Philadelphia’s Police Headache: The True Origin

The roots of Black Friday trace back to Philadelphia in the 1960s, where the term was coined by overworked and exhausted police officers grappling with the challenges of handling massive crowds and increased criminal activity on the day after Thanksgiving. The attempt to rebrand it as "Big Friday" failed, and the negative connotations stuck, becoming an integral part of the city’s history.

From Negative to Positive: Retailers Reinvent Black Friday

In the late 1980s, retailers nationwide successfully rebranded Black Friday, turning it from a day associated with chaos and financial crises into a positive narrative of stores finally turning a profit.

The "red to black" concept became the official story, overshadowing the original, less glamorous origins. This strategic shift allowed retailers to present Black Friday as a day of celebration, marking the occasion when America’s stores purportedly began to turn a profit for the year.

Black Friday’s Evolution: A Shopping Extravaganza

Over time, Black Friday has evolved from a one-day event to a four-day shopping extravaganza, giving rise to other retail holidays like Small Business Saturday/Sunday and Cyber Monday.

The tradition has been embraced by both physical and online stores, with shoppers eagerly seeking deals right after their Thanksgiving meal. The day following Thanksgiving—commonly referred to as Black Friday—has become one of the busiest shopping days of the year in the United States. National chain stores traditionally offer limited money-saving specials on a wide variety of goods, both in-store and online, in an effort to lure shoppers and kickstart the holiday shopping season.

From Black Friday to Other Shopping Holidays

Black Friday's significance has expanded to include other shopping holidays such as Small Business Saturday, Cyber Monday, and Giving Tuesday.

• Small Business Saturday encourages shoppers to visit local retailers, emphasizing the importance of supporting smaller businesses.
• Cyber Monday promotes online shopping, taking advantage of the digital age.
• Giving Tuesday encourages charitable donations, adding a philanthropic element to the post-Thanksgiving shopping spree.

Historical events, like the gold market crash of 1869, add a deeper layer to the day's connotations, highlighting the complex and multifaceted history behind the seemingly straightforward tradition.

The Black Friday Tradition: A Century-Old Shopping Extravaganza

The tradition of Black Friday, with its roots reaching back well over a century, has become one of the most important days for businesses.

Back in the late 1800s, many stores sponsored Thanksgiving parades, and by the beginning of the 20th century, it was common for retailers to start their holiday-season sales as soon as Thanksgiving ended.

Thanksgiving used to be celebrated on the last Thursday of November, but in the 1940s, President Franklin D. Roosevelt moved it to the fourth Thursday in November to ensure an early start to the holiday shopping season.

The day following Thanksgiving, Black Friday, has solidified its place as a retail phenomenon deeply embedded in American culture, attracting eager shoppers year after year.

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