The term “Black Friday” has evolved significantly over the years, becoming synonymous with the shopping frenzy that takes place in the United States the day after Thanksgiving. This day marks the unofficial beginning of the holiday shopping season, characterized by significant discounts and promotional sales. But why is it called “Black Friday”? The origins of the term are not as bleak as the name might suggest.
The Historical Context of Black Friday
The earliest use of “Black Friday” in a November context did not refer to shopping but to financial crisis. Specifically, it referred to September 24, 1869, a day when the U.S. gold market crashed after financiers Jay Gould and James Fisk attempted to corner the gold market on the New York Gold Exchange. The term “black” was used to denote the disaster and chaos that ensued.
However, the use of “Black Friday” to describe the post-Thanksgiving shopping day has a different origin. The phrase was first used in this context by the police in the city of Philadelphia in the 1950s and 1960s. The day after Thanksgiving saw the annual Army-Navy football game played in Philadelphia, drawing large crowds and causing traffic jams, shoplifting, and other chaotic situations that the police had to manage. The officers began to refer to this day as “Black Friday” because of the stress and long hours they had to endure.
From Negative to Positive: The Rebranding of Black Friday
Retailers in Philadelphia were unhappy with the negative connotations of “Black Friday” and attempted to change it to “Big Friday” to reflect the positive economic benefits of the day. However, the rebranding effort was not successful, and the term “Black Friday” stuck. Instead, the narrative around “Black Friday” began to change, with a more positive spin emerging in the late 1980s. It was suggested that the day represented the point in the year when retailers finally began to turn a profit, moving from “the red” into “the black” according to accounting practices where losses are recorded in red ink and profits in black.
This reinterpretation of “Black Friday” aligned with the day’s growing popularity as a shopping holiday. Retailers began to embrace the term, offering even deeper discounts and opening their stores earlier to attract customers. The concept of “Black Friday” as a day of economic opportunity for both retailers and consumers took hold, and the day became known for its incredible deals and the start of the holiday shopping season.
Black Friday Today
Today, “Black Friday” is not only a major event in the United States but has also been adopted by other countries, even those that do not celebrate Thanksgiving. It signifies a day (and increasingly, a period of days or even weeks) of significant retail discounts and promotions. The phenomenon has also spurred other retail holidays, such as Cyber Monday, which focuses on online shopping deals the following Monday.
The evolution of “Black Friday” from a term associated with financial crisis and law enforcement challenges to one synonymous with shopping and savings is a fascinating story of rebranding and cultural adoption. What started as a local term used by Philadelphia police has become a global phenomenon, eagerly anticipated by consumers and retailers alike. Despite its name, “Black Friday” is now associated with the bustling start of the holiday season, offering a day of opportunity for bargain hunters and a significant sales event for businesses.
