The History Of Black Friday Sales ? How It All Began
Delve into the fascinating origins of Black Friday, the shopping phenomenon that signals the start of the holiday season. This blog post explores how Black Friday evolved from a post-Thanksgiving tradition to a global retail event. Learn about its surprising historical roots, from early 20th-century economic trends to its modern-day digital transformation. Discover key milestones, fun facts, and how this shopping extravaganza has impacted consumer culture worldwide. Whether you're a savvy shopper or curious historian, this deep dive into Black Friday's history will captivate and enlighten you.
Mahendra Kumar
12/4/20242 min read
---
## The History of Black Friday: How It All Began
Introduction
Black Friday is a global shopping phenomenon synonymous with massive discounts, long queues, and the unofficial start of the holiday season. But how did this tradition begin, and why is it called "Black Friday"? Let’s dive into its intriguing history.
### The Origins of the Term "Black Friday"
1. The Financial Panic of 1869
The term "Black Friday" was first used to describe the U.S. financial crisis on September 24, 1869. Two Wall Street financiers, Jay Gould and James Fisk, attempted to corner the gold market, leading to a market crash and economic chaos. While unrelated to shopping, this marked the first recorded use of the term.
2. Philadelphia's Black Friday
The modern association with shopping began in the 1950s in Philadelphia. Police officers coined the term to describe the chaos that followed Thanksgiving Day, as hordes of shoppers and tourists flooded the city ahead of the Army-Navy football game. Officers had to work long hours to manage the traffic and crowd control, and "Black Friday" was their not-so-affectionate way of describing the day.
### The Retail Connection
1. Black Friday and Business Profitability
In the 1980s, retailers redefined "Black Friday" as a positive event. Historically, accounting records used red ink to indicate losses and black ink to indicate profits. Retailers started promoting the idea that the day after Thanksgiving marked the time when businesses transitioned from "the red" (loss) to "the black" (profit).
2. The Shopping Frenzy
By the late 20th century, Black Friday had cemented itself as the biggest shopping day in the United States. Retailers began offering massive discounts to attract shoppers, and customers were eager to kick off their holiday shopping with deals.
### Evolution into a Global Phenomenon
1. From the U.S. to the World
Although Black Friday originated in the United States, globalization and the rise of e-commerce Helped spread the tradition worldwide. Countries like the UK, Canada, and Australia have adopted Black Friday as a significant shopping day.
Evolution of Black Friday Sales
1970s-1980s:
Retailers started using doorbuster deals and extended store hours to attract shoppers.
This era saw the rise of big-box retailers like Walmart and Kmart as leaders in Black Friday sales.
1990s:
Black Friday became a national shopping event as more stores participated.
Electronics, toys, and home goods became common sale items.
2000s:
The advent of e-commerce reshaped Black Friday.
Online-only retailers like Amazon introduced competitive sales.
The concept of Cyber Monday (the Monday after Black Friday) emerged in 2005, targeting online shoppers.
2010s:
Black Friday sales began expanding beyond a single day to encompass the entire Thanksgiving week.
Trends like Thanksgiving Day shopping emerged, although controversial.
International adoption of Black Friday sales grew, with countries like the UK, Canada, and Australia participating.
2020s:
The COVID-19 pandemic accelerated online Black Friday sales.
Shoppers embraced curbside pickup, same-day delivery, and e-commerce platforms.
Retailers like Amazon, Walmart, and Target now offer month-long sales leading up to Black Friday.
Black Friday Sales Statistics
Growth in Revenue:
Black Friday sales have consistently broken records, with billions spent each year.
In 2022, U.S. consumers spent over $9 billion online on Black Friday.
Popular Product Categories:
Electronics (TVs, laptops, smartphones)
Apparel
Toys
Home appliances
Changing Shopping Habits:
Mobile shopping accounts for over half of online Black Friday purchases.
Younger shoppers increasingly rely on social media to find deals.
Cultural and Global Impact
Black Friday has become a cultural phenomenon worldwide.
Countries without a Thanksgiving holiday, such as Brazil and South Africa, now hold Black Friday sales.
Critics have pointed to the environmental and social costs of excessive consumerism, leading to the rise of "Buy Nothing Day" as an alternative.
