Unwrapping the True History of Black Friday
- Nadya Strudell
- Nov 29, 2024
- 2 min read
You may have heard that “Black Friday” was named after the idea of businesses going from “in the red” (losing money) to “in the black” (profitable) thanks to post-Thanksgiving shoppers. That’s a tall tale to tell over leftovers because the phrase “Black Friday” comes from a more unfavorable history than that.
Back in 1869, two conniving businessmen concocted a plan to strike a fortune in the U.S. gold market. They attempted to buy up all the gold stock and sell it for a massive profit. Unsurprisingly, this didn’t go well and instead led to a colossal stock market crash on a fateful Friday. The term “Black” signifies disastrous financial days in history.
Fast forward to Philadelphia in the 1960s. Every year, holiday shoppers and sports fans would flood the city, bringing mischief and mayhem. This annual frenzy earned the nickname “Black Friday.” The term stuck, much to the dismay of marketing specialists and retailers who attempted to rehash the event as “Big Friday.” You can probably guess how that strategy turned out!
After this branding fiasco, marketers decided to embrace the “Black Friday” name and even invented the mythical story of profits turning from “red” to “black” during the Thanksgiving holiday. Although it isn’t an accurate narrative, it worked! Now, Black Friday kicks off the holiday shopping season with deals and discounts galore.
Today, Black Friday represents the excitement and bustle of the holidays, marking the official start of shopping sprees and festive celebrations. As we plunge into the whirlwind of Black Friday sales, remember it’s not just about snagging the best bargains; it’s also about the joy of giving to others and supporting our local community!
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Hello! My name is Nadya. I am a senior at the University of Texas at San Antonio. I will graduate with a B.A. in English and a concentration in Professional Writing this winter. I have always been captivated by language, linguistics, and communication. I enjoy learning about virtually any subject and look forward to writing about various topics this fall. I am eager to learn from the remarkable women at Her Nexx Chapter and excited to develop as a writer under their professional guidance. In my spare time, I enjoy visiting with family and friends, pampering my pets, and experimenting with new recipes. I also enjoy the challenge of keeping my plants happy, watching a comedy or documentary, and exploring new places in my hometown.
