UPDATE: The true origins of the annual shopping frenzy known as Black Friday have been unveiled, exposing its chaotic history and shifting meanings over the years. This year, as shoppers gear up for the biggest retail event of the year, new insights highlight how the term “Black Friday” has evolved from a financial disaster to a consumerist spectacle.
Just announced: The term “Black Friday” was not always synonymous with holiday shopping. Initially, it referred to the catastrophic crash of the U.S. gold market on September 24, 1869, when financiers Jay Gould and Jim Fisk attempted to manipulate gold prices, leading to widespread financial ruin. This historical footnote now serves as a stark reminder of the day’s tumultuous past.
The narrative commonly associated with Black Friday, where retailers finally turn a profit after a year of losses, has its roots in the 1950s Philadelphia. Police officers coined the term to describe the chaos that ensued as shoppers flooded the city for post-Thanksgiving sales and the annual Army-Navy football game.
The influx of shoppers caused such disorder that police were forced to work longer shifts, giving rise to a negative connotation of the day. Despite attempts by local merchants in the early 1960s to rebrand it as “Big Friday,” the term Black Friday remained, gaining traction across the country in the late 1980s.
Authorities confirm that during this time, retailers successfully transformed Black Friday’s image from a day of chaos to a celebrated shopping event. The concept of moving from the “red” (loss) to the “black” (profit) became the new narrative, and the holiday shopping experience began to expand dramatically.
Today, Black Friday has morphed into a multi-day retail extravaganza, often starting as early as Thanksgiving Day. Shoppers can expect significant discounts, with many stores opening their doors in the evening of November 23, 2023, this year. However, as the shopping frenzy intensifies, critics argue that the day now symbolizes rampant consumerism and chaos, overshadowing its original intent.
The rise of online shopping has also fundamentally altered the landscape, as many consumers opt for the convenience of browsing deals from home rather than braving crowded stores. This shift raises questions about the future of Black Friday and its implications for traditional retail.
As we approach November 24, 2023, consumers are preparing for what has become a hallmark of the holiday season. Experts suggest keeping an eye on evolving shopping trends, including the impact of online sales and the emergence of new retail holidays like Small Business Saturday and Cyber Monday.
What lies ahead for Black Friday? With its complex history and ongoing transformation, shoppers and retailers alike are poised to witness yet another year of unprecedented changes in the retail landscape. Stay tuned for more updates as the holiday shopping season unfolds.
