Black Friday, known as the unofficial kickoff to the holiday shopping season, has become a global phenomenon.
It is traditionally celebrated on the day after Thanksgiving, which occurs on the fourth Thursday of November in the United States.
This year, Black Friday falls on November 29, a date marked on the calendars of millions of shoppers looking to take advantage of the year's most appealing deals.
This annual event of massive discounts has evolved from its humble beginnings in Philadelphia in the 1950s to become a pillar of retail commerce worldwide.
However, the term "Black Friday" is surrounded by myths and theories about its origin, ranging from historical explanations to debunked rumors. In this article, we explore the roots of this phenomenon and its global expansion.
Myths and rumors
One of the most widespread theories, although completely false, suggests that the term "Black Friday" is connected to slavery.
According to this rumor, slave traders offered discounts on their "products" the day after Thanksgiving.
However, research cited by National Geographic has shown that there is no documentary evidence to support this hypothesis. This version has been discredited by experts and has no connection to the true origins of Black Friday.
Black Friday on Wall Street: The Fall of Gold in 1869
A more plausible theory links the term to a financial event. On September 24, 1869, known as "Black Friday," two Wall Street speculators, Jay Gould and Jim Fisk, attempted to monopolize the gold market in the United States.
His plan failed, causing a collapse in gold prices and an economic crisis that negatively affected numerous investors.
Although it is not directly related to shopping, this historical episode may have influenced the use of the term "Black Friday" in other contexts.
Chaos in Philadelphia: The True Origins of Black Friday
The most widely accepted version of the origin of the term dates back to the 1950s in Philadelphia.
According to researcher Bonnie Taylor-Blake, after Thanksgiving, the city would be filled with shoppers looking to take advantage of the sales and attend the football game between the Army and the Navy, held on the following Saturday.
This chaos led to overwhelming traffic, long work hours for the police, and overcrowding in stores.
Philadelphia police officers began referring to the day as "Black Friday" due to the exhausting work and the overwhelming activity in the streets.
Although it initially had a negative connotation, the city's merchants adopted the term to describe the massive influx of shoppers in their stores.
In 1961, some attempted to rename it as "Great Friday" to soften its perception, but the idea did not take off.
The media popularity and its consolidation
The term Black Friday first appeared in written media in 1966, in the magazine The American Philatelist.
However, it was in 1975, thanks to an article in The New York Times, that the concept began to gain national popularity.
This media coverage allowed Black Friday to establish itself in the collective imagination as the day with the biggest discounts of the year.
In the 21st century, Black Friday became a key event for retail. Major American chains like Walmart and Sears promoted the concept by offering deals before dawn.
In 2003, Black Friday officially became the most profitable shopping day of the year, even surpassing the days leading up to Christmas.
The arrival of the internet and online sales further amplified its impact.
In 2005, Cyber Monday was born, a term coined by the National Retail Federation to entice shoppers to online commerce.
This new discount event has become an essential addition to Black Friday.
In 2020 -during the height of the coronavirus pandemic- Cyber Monday sales reached $6.59 billion, making it the most successful online shopping day in United States history.
Black Friday in Spain and its Global Expansion
Black Friday has crossed the borders of the United States, becoming a global phenomenon celebrated in numerous countries, each adapting it to their cultural and commercial specificities.
In Latin America, countries like Mexico, Colombia, and Brazil have embraced the tradition, incorporating it into their commercial calendars and blending it with local initiatives, such as "Buen Fin" in Mexico.
In Spain, Black Friday was widely adopted in 2015, drawing the attention of more than two million shoppers in its first significant edition. Since then, it has grown exponentially.
In Europe, besides Spain, countries like France, Germany, and Italy have experienced significant growth in sales during Black Friday, particularly in online commerce.
Even in regions of Asia and Africa, where the influence of Western culture is less pronounced, the event has gained popularity due to the rise of e-commerce and global marketing strategies, establishing itself as a key date for consumers and retailers worldwide.
More than just a day of discounts
Black Friday is much more than just a day of sales; it is a cultural and economic phenomenon that reflects contemporary consumption dynamics.
Its evolution, from chaos on the streets of Philadelphia to a global event, demonstrates the ability of commerce to adapt and reinvent itself.
As Black Friday continues to gain traction in new markets, its history serves as a reminder of how traditions can evolve into powerful tools for marketing and commerce.
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