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As the holiday season approaches, millions of Americans are gearing up for the shopping extravaganza known as Black Friday. This unofficial start to the Christmas shopping season has become synonymous with incredible deals, massive crowds, and the pursuit of bargains. However, the roots of Black Friday can be traced back to unexpected origins in Philadelphia in the 1950s. This blog post unravels the history of Black Friday, its evolution, and its enduring significance in the retail landscape.
Contrary to popular belief, Black Friday did not originate from financial terms like red or black ink on merchants’ balance sheets. Instead, it emerged in the 1950s in Philadelphia. After Thanksgiving, throngs of suburban shoppers descended on the city as a result of the yearly Army vs. Navy football game. The city, flooded with people, coined the term as traffic cops worked gruelling shifts to manage the shopping chaos and festivities surrounding the game.
In 1961, there was an attempt to rebrand the shopping holiday as “Big Friday” to shed any negative connotations. However, this idea did not gain traction, and the term Black Friday persisted. Over time, retailers embraced the name and expanded the event beyond a single day of sales.
Around 2003, retailers elevated the Black Friday experience by adjusting store opening times. Kmart, Walmart, and Sears led the charge with pre-dawn sales starting at 5 a.m. This move marked a turning point, making Black Friday the most profitable shopping day of the year by 2003, surpassing the late December days that previously held that title.
With the advent of the internet, a new shopping holiday emerged in 2005: Cyber Monday. The National Retail Federation (NRF) came up with the term “Cyber Monday,” which mirrored Black Friday’s shopping frenzy but catered to online retailers. This digital counterpart further expanded the holiday shopping experience.
Last year, Black Friday achieved record-breaking online sales of $9.12 billion. Electronics, smart home equipment, toys, and exercise equipment were among the top-selling items. Despite economic headwinds such as inflation and rising borrowing costs, Adobe Analytics expects online sales to climb by 5.7% year over year to $9.6 billion.
Black Friday’s journey from the streets of Philadelphia to a global shopping spectacle is a testament to its enduring appeal and adaptability. What started as a local event tied to a football game has transformed into a nationwide phenomenon, influencing consumer behaviour and shaping the retail calendar. As shoppers prepare to navigate the bustling crowds and online deals this Black Friday, the legacy of this shopping tradition continues to evolve, leaving an indelible mark on the intersection of commerce and culture.
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