Black Friday is the day celebrated every year Friday following the fourth Thursday of November, the Thanksgiving Day in the United States. Many people all over the world believe it is called Black Friday due to various sales and deals on stores that make them profitable and go “into the black”. But, the reality is a bit more than you may know yet. So, keep reading to know the exact history of Black Friday deals.
How was Black Friday originated?
Black Friday, the term, was originally used when two investors Jim Fisk and Jay Gould caused a crash by driving up the gold prices on 24th September 1869. Foreign trade stopped as the stock market dropped by 20%. Farmers in that crash suffered an almost 50% dip in corn and wheat harvest value. In the 1950s, the Philadelphia police referred the term Black Friday to the day between the Army-Navy game and Thanksgiving. The cops had to work extra hours that Friday as huge crowds of tourists and shoppers went to the city and cops had to cover those huge crowds and traffic.
Familiarity with the term
However, since 1952, the day after Thanksgiving or Black Friday has been regarded as the onset of the Christmas shopping season in the United States. The term did not become much familiar until the 2000s when retailers all over the world adopted the date and term “Black Friday” to offer their own yearly holiday sales.
Black Friday deals and sales
As of Black Friday deals, many stores offer various promoted sales on the day opening quite early. Some stores may open at midnight, and some others even start their sale on Thanksgiving Day. In California and some other states, Black Friday has been declared a holiday for state government employees; however, it is not an official holiday. Instead, like most global celebrations, it has become synonymous with getting more for your money. In a way, it’s one of the most interesting times to keep occupied during trying times as you have something to look forward to.
Black Friday went in the red
The term “Black Friday” was initially used in Philadelphia by the police officers who had to deal with heavy vehicular and pedestrian traffic after Thanksgiving Day during the 1950s till 1961. As the term became more familiar, it was believed that the retailers turned a profit on this day and the term went from “in the black” to “in the red”.
Promoting Black Friday on a global level
Since the beginning of the 21st century, many retailers having their roots in the United States used to promote Black Friday to other countries. While some other local retailers used to promote the day to keep the competitive advantage with online retailers based in the United States. However, the concept has taken a global stance, allowing for more international competition. Other industries have also joined the fold, such as the food, clothing and even iGaming industry. The gambling industry not only uses this chance to acquire new customers, but also solidifies relations with existing players. This is the opportune time for them to give out interesting promotional bonuses or even introduce a new slot game or two. A good way to find the best bonuses at online casinos is to visit the UK casino portal Gamble.
Black Friday sale got extreme
Many retailers used to open early in the morning usually at 6 a.m. for many years, however, as the 2000s came up, many retailers crept to 5 or even 4 a.m. this peaked up in 2011 as many retailers including Best Buy, Bealls, Kohl’s, Macy’s, and Target opened at midnight for the very first time. In 2012, several retailers, including Walmart, announced they would open up for sales at most of their stores at 8 p.m. on Thanksgiving Day. This prompted the calls among several workers for a walkout.
As time passed, the Black Friday sales and deals process got more extreme. In 2014, some other popular stores such as Best Buy, JCPenny, and Radio Shack opened their stores for sales at 5 p.m. on Thanksgiving Day, whereas Belk, Sears Target, and Walmart opened at 6 p.m. on the same day.