Black Friday: Why does the world observe this day in November?
Black Friday is the last Friday in the month of November that consumers across the world (especially USA) eagerly await every year. It is a consumer-friendly idea that originated in the USA and is basically a pre-Christmas sale, full of special promotions and unexpected discounts on products available across chain retailers, departmental stores and e-commerce platforms. Let us find out the history and customs associated with Black Friday.
What is Black Friday?
Black Friday is the day of sales promotions that takes place right after the Thanksgiving Day (major holiday that falls on the fourth Thursday of November, and is celebrated as an opportunity to acknowledge and thank friends, family and the almighty) and is generally regarded as the first day of the Christmas season. This is perhaps the busiest shopping day of the year in the USA. During this sales period, heavy price reductions are offered. Although it originated in the USA, it is observed all across the world: Canada, Australia, Ireland, Brazil and the Caribbeans and India (a recent addition).
History of Black Friday
The term ‘Black Friday’ originated in September 1869, when two successful traders, Jay Gould and James Fisk tried to take over the gold market at the New York Stock Exchange. However, their efforts went south resulting is the crashing of the stock market and eventual bankruptcy for a major part of the New York society.
While this is the real story behind Black Friday, there’s a myth surrounding the origin of this day. Some believe that the Southern Plantation owners of Europe had chosen the day after Thanksgiving to buy slaves at a discounted price. But this dark idea has been dismissed by most.
The idea of Black Friday became a hit when in the 1950s, Philadelphia local police started calling the day after Thanksgiving as a Black Friday, courtesy crazy crowds of people and unmanageable traffic triggered by the start of Christmas shopping season. The popular shopping day further became a mega sensation in the 1990s and reached its culmination with the turn of the century.
Interesting facts about Black Friday
The idea of Black Friday was derived from the phrase ‘in the black’ meaning making money or earning profits. It is opposed to the phrase ‘in the red’ meaning being in debt. Therefore, Black Friday implies a time when businesses moved from being ‘in red’ to being ‘in black.’
Before being called Black Friday, the day was called ‘Big Friday.’ However, the name failed to make a lasting impression.
Walmart, one of the largest retailers of the world, broke the Black Friday tradition in 2011 and opened its doors to customers a few hours before on the night of Thanksgiving.
Since 2011, the tradition of Black Friday travelled across the American border to Mexico where it is called ‘El Buen Fin’ or a ‘good weekend’ and is preceded by the celebrations of Mexican Day of Revolution.
Buy Nothing Day also takes place on the same day as Black Friday as a protest against excess consumerism.
Colombia celebrates two Black Fridays, one in November, the other in May for better profits.
In 2020, due to Covid-19 restrictions, Black Friday was officially moved online to avoid unnecessary crowding and the sales were extended for up to a month. This is almost like the idea of Cyber Monday, that too originated in the USA in 2005. It is the first Monday right after Black Friday where only online products go on sale.