The shopping extravaganza known as Black Friday has evolved from a local event in the United States to a global phenomenon, signaling the unofficial start to the holiday shopping season. Traditionally held the day after Thanksgiving, which falls on the fourth Thursday of November, this year's Black Friday lands on November 29. It's a date eagerly anticipated by millions of bargain hunters seeking the most attractive deals of the year.
From its modest beginnings in Philadelphia during the 1950s, Black Friday has grown into a cornerstone of international retail. Despite its widespread appeal, the term "Black Friday" is surrounded by myths and misconceptions regarding its origins, ranging from historical narratives to debunked rumors. Here, we delve into the roots of this shopping event and its global reach.
The Myths and Misunderstandings
One of the more pervasive myths, though entirely unfounded, claims that "Black Friday" is linked to slavery. This falsehood suggests that slave traders offered discounts on their "goods" the day after Thanksgiving. However, research, including findings by National Geographic, has shown no documentary evidence supporting this claim. Experts have debunked this narrative as unrelated to the true origins of Black Friday.
From Wall Street to Shopping Streets: Historical Connections
A more credible theory ties the term to a financial event. On September 24, 1869, dubbed "Black Friday," Wall Street speculators Jay Gould and Jim Fisk attempted to corner the gold market in the United States. Their scheme collapsed, leading to a gold price crash and a financial crisis that adversely affected many investors. Although not directly connected to shopping, this historical episode may have influenced the later use of "Black Friday" in retail contexts.
Philadelphia's Traffic Chaos: The Real Black Friday Origins
The most widely accepted origin story dates back to the 1950s in Philadelphia. After Thanksgiving, the city was overrun by shoppers eager for bargains and attendees heading to the Army-Navy football game held the following Saturday. This frenzy resulted in overwhelming traffic, long police shifts, and crowded stores. Philadelphia police began referring to the day as "Black Friday" due to the exhausting workload and bustling street activity. Initially negative in connotation, the term was eventually embraced by retailers to describe the influx of shoppers.
In 1961, attempts were made to rename the day "Big Friday" to improve its image, but the idea never took hold.
Media Attention and Mainstream Adoption
The term "Black Friday" first appeared in print in 1966 in The American Philatelist magazine. However, it gained national traction in 1975 following coverage by The New York Times, cementing its place in popular culture as the day for the year's biggest sales. In the 21st century, Black Friday has become a pivotal event for retailers, with major U.S. chains like Walmart and Sears offering early morning deals. By 2003, Black Friday officially became the most lucrative shopping day of the year, surpassing even pre-Christmas sales.
The advent of the internet and online shopping has further amplified its impact. In 2005, "Cyber Monday" was coined by the National Retail Federation to draw online shoppers, complementing Black Friday. In 2020, during the coronavirus pandemic, Cyber Monday sales soared to $6.59 billion, making it the most successful online shopping day in U.S. history.
Black Friday's Global Reach
Black Friday has crossed U.S. borders, becoming a global event celebrated in numerous countries, each adapting it to their cultural and commercial contexts. In Latin America, nations like Mexico, Colombia, and Brazil have embraced the tradition, integrating it with local initiatives such as Mexico's "Buen Fin."
In Spain, Black Friday gained significant traction in 2015, attracting over two million shoppers in its first notable edition. Since then, its popularity has surged. Across Europe, countries including France, Germany, and Italy have seen a substantial increase in Black Friday sales, particularly online. Even in parts of Asia and Africa, where Western cultural influence is less pronounced, the event has gained popularity thanks to the rise of e-commerce and global marketing strategies, establishing itself as a key date for consumers and retailers worldwide.
Beyond Bargains: A Cultural and Economic Phenomenon
Black Friday is more than a day of discounts; it's a cultural and economic phenomenon reflecting contemporary consumer dynamics. Its journey from chaotic Philadelphia streets to a global event showcases the retail industry's ability to adapt and reinvent itself. As Black Friday continues to expand into new markets, its history serves as a reminder of how traditions can transform into powerful marketing and commercial tools.