Black Friday has long served as the kickoff to the holiday shopping season, but the annual retail event is a day shrouded in a little mystery.
While competing myths have left some history-loving shoppers scratching their heads, the general consensus is that Black Friday began in Pennsylvania in the 20th century.
“Many people believe that ‘Black Friday’ comes from the idea that it is a very profitable day for retailers, where they are getting ‘out of the red’ and ‘into the black,'” Jay Myers, said the co-founder. and vice president of development at BOLD Commerce.
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“The term didn’t actually originate with retailers,” he added. “Philadelphia police officers first used the term ‘Black Friday’ in the 1960s to describe the day after Thanksgiving, when throngs of tourists flocked to the city to shop, causing traffic jams. And accidents happened.”
Black Friday Little Known Facts
1. The first recorded ‘Black Friday’: The term “Black Friday” was first used nationally in September 1869. But according to Encyclopedia Britannica, it wasn’t about holiday shopping.
Historical records show that the term was used to describe American Wall Street financiers Jay Gould and Jim Fisk, who bought a significant portion of the country’s gold to prop up the price. The couple was not able to resell the gold at the profit margin they had planned and Business plan Unveiled on September 24, 1869.
“The scheme finally came to light on that Friday in September,” said Lyle David Solomon, a bankruptcy attorney with the Oakview Law Group, sending the stock market into a precipitous decline and sending people from Wall Street millionaires to It bankrupted everyone, even the poor citizens.” “The stock market fell 20 percent, and foreign trade stopped. The price of wheat and corn crops for farmers dropped by half.”
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2. Black Friday is celebrated in other countries: America is not the only country that celebrates Black Friday. According to Baruch Labunski – CEO of Rank Secure, a digital analytics and SEO marketing firm, fourteen countries reportedly observe the annual holiday shopping event.
Countries that celebrate Black Friday include Canada, United Kingdom, South Africa, Ireland, Germany, Italy, Sweden, Belgium, Luxembourg, Netherlands, Brazil, Mexico, Australia and New Zealand.
3. Black Friday sale events have been extended: For more than 60 years, Black Friday has been one of the busiest days for retail stores and holiday shoppers. The event is extended with early or extended Black Friday doorbusters that consumers can take advantage of in stores and online.
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“Today, Black Friday has evolved into a month-long event, with retailers viewing it as a huge consumer acquisition event,” Myers said.
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Retail stores have followed Black Friday sales with Cyber Monday and Cyber Week events where shoppers can do their holiday shopping exclusively online.