Why is it Called Black Friday? – History of Black Friday

By Advisorymandi
17-November-2018 5:42:55 AM
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Most people see Black Friday as a day after U.S. Thanksgiving holiday – The biggest shopping day of the year in the U.S. history. But, the truth is the real reason why Black Friday is called “Black Friday” is entirely different. So, do you know why this day is called “Black Friday”? Why every year, retailers start throwing post-turkey deals long before the day which named as “Black Friday – A Day after Thanksgiving Day”? This retail bonanza which you recognized as Black Friday is a regarded as the beginning of the country’s Christmas shopping season since 1952 but the real history of Black Friday goes way back in the late 19th century when the U.S. President Abraham Lincoln designated the Thanksgiving holiday as the last Thursday in the month November.

 

What’s the Real History of Black Friday? – Surprising Origin

 

The Stock Market Catastrophe of Sep. 24, 1869 – Dark History

So, when President Lincoln designated the Thanksgiving Day, the day after Thanksgiving wasn’t called “Black Friday” back then. It was all started out when two speculators – Jay Gould and James Fisk who together created a boom-and-bust in gold prices on September 24, 1869. Jay Gould and James Fisk were the two ruthless notorious Street Financers who teamed up to buy as much as gold they could. The agenda behind this act was to drive the prices of gold sky-high and sell it for astonishing profits. September 24, 1869, was that “Friday” when that conspiracy finally untangled. Due to which the stock market went to free-fall and everyone from Wall Street barons to farmers went bankrupt. As prices fell 20 percent followed, the stock market crashed which sent disruption in gold prices.

 

The Philadelphia Chaos of 1950

Another darker truth behind why the day after Thanksgiving Day called “Black Friday” is the chaos of Philadelphia in 1950. In the 1950s, when the Philadelphia Police officers had to work in extra-long shifts due to the flooded City of Brotherly Love with the crowds of shoppers and visitors on the day after Thanksgiving. On top of that, the big Army-Navy football game also held on the next day where the Police offers had to deal with extra traffic and crowds. This extra-long shift led to a headache to overworked Philadelphia police officers who started to refer this dreaded day as “Black Friday”.

In a few decades, people forgot the darker truth behind the Black Friday. By 1961, “Black Friday” has caught a lot of attention on in Philadelphia that the merchants of the city tried unsuccessfully to change it to “Big Friday” in order to remove the connotations surrounding it. However, it was a failed attempt. But in the late 1980s, retailers found a way to change the negative connotations.

 

When is Black Friday 2018?

This year, the Black Friday shopping event will officially fall on 23rd November 2018. Traditionally, Black Friday is the day after Thanksgiving which by the way is the fourth Thursday in the month of November. Despite the official date, many retailers and online companies start offering deals long before the main event. On this shopping occasion, people take the benefits of Black Friday online shopping deals and doorbusters discounts to purchase the items in reduced price.

To mark the festivities, most retailers tend to have different discount days. For instance, last year, Amazon started offering Amazon black Friday deals from November 17th, 2017. So, to not fall behind in queue while using Black Friday 2018 Deals, keep your eyes wide open all week!

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Author: Advisorymandi

AdvisoryMandi is India's most trusted Stock Market Advisory marketplace covers NSE, BSE, MCX & NCDEX. Invest with confidence and harness the power of AdvisoryMandi to make smarter investment decisions in Stocks, Indices, Commodities, Forex & IPO.

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