The day after Thanksgiving in the United States is synonymous with one thing for many people: shopping. Known as Black Friday, this day marks the unofficial start of the Christmas shopping season, characterized by massive discounts, early store openings, and crowds of eager shoppers.
But where did this retail phenomenon come from? The story is more complex than you might think, with roots stretching back to a 19th-century financial crisis and evolving through the years into the global shopping event we know today.
Understanding the origins of Black Friday reveals a fascinating story about American culture, consumerism, and economic trends. While many believe the term is linked to retailers finally turning a profit for the year—moving from being “in the red” to “in the black”—the reality is much darker.
We will explore the true origins of the term, how it transformed from a local headache into a national event, and how it has spread across the globe.
The Real Origin Black Friday Story: Financial Panic and Police Headaches
The term “Black Friday” was first used to describe a financial crisis, not a shopping spree. On September 24, 1869, two notoriously ruthless Wall Street financiers, Jay Gould and Jim Fisk, attempted to corner the nation’s gold market.
Their scheme involved buying up as much gold as they could to drive the price sky-high, after which they would sell it for astonishing profits.
When their plan unraveled, the U.S. gold market crashed, and the stock market plummeted. The fallout sent the national economy into a freefall, bankrupting everyone from Wall Street barons to farmers.
The day became known as “Black Friday,” a term used to describe a day of economic catastrophe. For decades, the “Black” prefix was associated with market panics, not holiday cheer.
The Philadelphia Story
The term reappeared in the 1950s, but this time it had a completely different meaning. In Philadelphia, police officers began using “Black Friday” to describe the day after Thanksgiving.
This was the day that hordes of suburban shoppers and tourists would flood into the city for two main reasons: the big Army-Navy football game that was held on the following Saturday, and the start of the holiday shopping season.
For the police, this day was anything but festive. They had to work extra-long shifts to manage the overwhelming crowds and traffic.
Shoplifting also increased as thieves took advantage of the chaos in busy stores. For Philadelphia’s law enforcement, the day was a “black” mark on the calendar—a long, difficult, and unpleasant shift.
By 1961, the term had become so common in Philadelphia that city merchants tried to rebrand the day as “Big Friday” to give it a more positive spin. The new name, however, never caught on.
From Local Nightmare to National Phenomenon
The term “Black Friday” remained largely a Philadelphia-area expression for several decades. It wasn’t until the late 1980s that it started gaining national recognition. Retailers, eager to create a more positive connotation for the name, began to push a new narrative.
This is where the popular “in the red to in the black” explanation comes from. According to this story, the day after Thanksgiving was the point in the year when many retailers finally became profitable.
In accounting, losses were recorded in red ink and profits in black ink. Therefore, “Black Friday” marked the beginning of the profitable holiday season when stores would move into the black.
This reinterpretation was a clever piece of marketing. It successfully shifted the narrative from a day of traffic jams and chaos to one of economic success and holiday cheer.
As the story spread, so did the concept of Black Friday as a national shopping day. Major retailers began offering massive discounts and “doorbuster” deals to entice shoppers, and the event grew into the retail giant it is today.
Black Friday Goes Global
What started as a distinctly American tradition has since been exported around the world. Major international retailers, especially those with a presence in the United States, saw the potential of a massive, pre-Christmas sales event.
Thanks to the internet and the growth of e-commerce, Black Friday has now become a global shopping holiday.
Canada
Initially, Canadians would cross the border to take advantage of Black Friday sales in the U.S. To keep shoppers and their money at home, Canadian retailers began offering their own Black Friday deals.
While Canada has its own post-Christmas sale day called Boxing Day, Black Friday has become a major shopping event in its own right.
United Kingdom
In the U.K., the term “Black Friday” traditionally referred to the Friday before Christmas, which was a popular day for office parties and a busy time for emergency services.
However, in 2010, the American-owned retailer Amazon began promoting Black Friday sales in the U.K. Other retailers soon followed suit, and by 2014, the event had become notorious for chaotic scenes in stores. Today, it is a major online and in-store sales period.
France
France adopted the event with a Gallic twist, calling it “Vendredi Noir.” It gained traction around 2014 but has faced some backlash from those who view it as a symbol of American-style consumerism and its environmental impact. Despite this, it remains a significant day for French retailers.
Australia
In Australia, Black Friday has gained popularity over the last decade, often signaling the start of the summer holiday shopping season.
It competes with the traditional Boxing Day sales, but many retailers now participate in both events, offering significant discounts to kick off the festive period.
A Tradition Transformed!
The history of Black Friday is a perfect example of how language and traditions can evolve. What began as the name for a financial catastrophe in the 19th century was later used by Philadelphia police to describe a day of gridlock and mayhem.
Through a clever marketing spin, it was transformed into a term representing retail profitability and the joyous start of the holiday season.
Today, Black Friday is more than just a single day of shopping. It has expanded into a week-long, or even month-long, event with the addition of Cyber Monday and other pre-holiday sales.
As it continues to spread globally, it adapts to local cultures while retaining its core identity as a day of can’t-miss deals.
The next time you’re hunting for a bargain, you’ll know the surprisingly dark and complex history behind this worldwide shopping tradition!