Where Did the Black Friday Phenomenon Come From?
- Thread starter canada-man
- Start date
Days of slavery-when you can get slaves at fire sale prices.
Im surprised we can still say that.
Where is Black Lives Don’t Matter in this.
Im surprised we can still say that.
Where is Black Lives Don’t Matter in this.
From the onset of Recreational Shopping as a mass-market phenomenon. Before the Middle Class acquired significant 'disposable' income, they spent the day with family at home. They couldn't spend money for a whole day on Thanksgiving Friday buying stuff they didn't need, just for the 'fun' of it.
They can now.
They can now.
I was curious and Googled it:
Why is it called "Black Friday"? Most people know Black Friday as the day after Thanksgiving, when stores open early and offer various sales. These stores are often "in the black" (profitable) that day.
But the true story of Black Friday is darker. The term "Black Friday" was first used on Sept. 24, 1869, when two investors, Jay Gould and Jim Fisk, drove up the price of gold and caused a crash that day. The stock market dropped 20% and foreign trade stopped. Farmers suffered a 50% dip in wheat and corn harvest value.
In the 1950s, Philadelphia police used the "Black Friday" term to refer to the day between Thanksgiving and the Army-Navy game. Huge crowds of shoppers and tourists went to the city that Friday, and cops had to work long hours to cover the crowds and traffic.
Merchants in the area tried to change the name to "Big Friday," but the alternative name never caught on.
By the late 1980s, "Black Friday" had spread nationally with the more positive "red to black" backstory.
Why is it called "Black Friday"? Most people know Black Friday as the day after Thanksgiving, when stores open early and offer various sales. These stores are often "in the black" (profitable) that day.
But the true story of Black Friday is darker. The term "Black Friday" was first used on Sept. 24, 1869, when two investors, Jay Gould and Jim Fisk, drove up the price of gold and caused a crash that day. The stock market dropped 20% and foreign trade stopped. Farmers suffered a 50% dip in wheat and corn harvest value.
In the 1950s, Philadelphia police used the "Black Friday" term to refer to the day between Thanksgiving and the Army-Navy game. Huge crowds of shoppers and tourists went to the city that Friday, and cops had to work long hours to cover the crowds and traffic.
Merchants in the area tried to change the name to "Big Friday," but the alternative name never caught on.
By the late 1980s, "Black Friday" had spread nationally with the more positive "red to black" backstory.
The term Black Friday has been used for everything
Martial law in Chicago to bombers in India
The current use is based on retailers and has been since at least the 80s (if not the 70s)
@IM469 the gold scam was more insider trading than actual investing though
Without Corbin there would never have been a penny profit or a market crash
Martial law in Chicago to bombers in India
The current use is based on retailers and has been since at least the 80s (if not the 70s)
@IM469 the gold scam was more insider trading than actual investing though
Without Corbin there would never have been a penny profit or a market crash
Ahem. The term "Black Friday" was coined by retailers. From a P&L standpoint many retail operations used to run at a loss, or "in the red", all through the year up until the massive holiday selling that kicked off the day after Thanksgiving. At that point they became profitable, or "in the black", for the year.
Those days are long gone. The constant (and unsustainable) promotion-based sale cadence which pervades the industry now means that holiday selling simply isn't that profitable. This leads to the inevitable bankruptcy and closure of many retail chains every year right after Christmas.
KK
Those days are long gone. The constant (and unsustainable) promotion-based sale cadence which pervades the industry now means that holiday selling simply isn't that profitable. This leads to the inevitable bankruptcy and closure of many retail chains every year right after Christmas.
KK
O
OnTheWayOut
This year I saw a Chevy dealer with signs posted all over "Black Friday Month Sale". Now it has become a month instead of a day? I've seen many Black Friday week ads and signs as well. Canadian Tire had Red Thursday the day before Friday. IE, the whole thing has become a joke but if you check the ads you can score some good deals. My daughter has mastered the art and expanded it to online sales.
Other than marking the "official" beginning of the holiday shopping season Black Friday is becoming rather irrelevant. Smart shoppers don't wait until a month before Christmas to start buying gifts anyway.
Other than marking the "official" beginning of the holiday shopping season Black Friday is becoming rather irrelevant. Smart shoppers don't wait until a month before Christmas to start buying gifts anyway.
