Black Friday, the day after Thanksgiving, marks the unofficial start of the holiday shopping season in the United States. Millions of shoppers eagerly anticipate this day, seeking out deals and discounts from retailers both in-store and online. But have you ever stopped to wonder, why is this massive shopping event called “Black Friday”? The answer might be more intriguing than you think, and it’s not directly related to retailers’ profits turning “from red to black.”
The popular myth surrounding the name “Black Friday” suggests it represents the day when retailers finally move out of the “red” (losses) and into the “black” (profits) due to the surge in sales after Thanksgiving. This narrative, while widely circulated, is actually a misunderstanding of the term’s origin.
The real story of “Black Friday” takes us back to the early 1960s in Philadelphia. Imagine the day after Thanksgiving: suburban tourists flooding into the city for the start of holiday shopping and to attend the annual Army-Navy football game held on Saturday. This influx of people created absolute chaos in the city. The Philadelphia Police Department, facing the brunt of this mayhem, coined the term “Black Friday” to describe the day. They had to endure longer shifts dealing with immense traffic congestion, numerous accidents, shoplifting incidents, and general disorder caused by the overwhelming crowds.
Within Philadelphia, the term “Black Friday” stuck, and while local merchants weren’t thrilled with the negative connotation, they attempted to rebrand it as “Big Friday” to put a more positive spin on the shopping day. However, “Black Friday” was the name that persisted.
It wasn’t until the late 1980s that the narrative of “Black Friday” being linked to retailers’ profits began to spread nationwide. Merchants cleverly promoted this “red-to-black” profit story to further capitalize on the shopping frenzy. They presented Black Friday as the crucial day when stores would start making a profit for the entire year, portraying it as the biggest shopping day in the U.S. Interestingly, data actually indicated that for many years, the Saturday before Christmas saw even larger sales volumes.
In contemporary times, Black Friday has evolved into a major cultural and economic event, spawning related shopping days. Small Business Saturday encourages consumers to support local businesses, while Cyber Monday focuses on online deals. Giving Tuesday has also emerged as a day for charitable contributions, following the shopping-focused weekend.
It’s worth noting that “Black Friday” also carries a completely unrelated historical meaning, referring to the financial panic of 1869. This “Black Friday” on September 24, 1869, resulted from a gold market scheme by financiers Jay Gould and James Fisk, leading to a stock market crash and widespread bankruptcies. While historically significant, this event is separate from the retail “Black Friday” we know today.
So, while the appealing myth of retailers going “into the black” on Black Friday persists, the term’s true origins lie in the chaotic scenes created by post-Thanksgiving shoppers in Philadelphia. Understanding the real “why” behind “Black Friday” adds another layer of intrigue to this now-iconic shopping day.
