History of “Black Friday” Is Not What You Think
Two Black Friday related issues.
The first is Ethan Trex’ A Brief History of Black Friday (Mental Floss). Ethan disposes of the myth that the name reflects when Retailers “Get in the Black”:
“According to researchers, the name “Black Friday” dates back to Philadelphia in the mid-1960s. The Friday in question is nestled snugly between Thanksgiving and the traditional Army-Navy football game that’s played in Philadelphia on the following Saturday, so the City of Brotherly Love was always bustling with activity on that day. All of the people were great for retailers, but they were a huge pain for police officers, cab drivers, and anyone who had to negotiate the city’s streets. They started referring to the annual day of commercial bedlam as “Black Friday” to reflect how irritating it was.
Apparently storeowners didn’t love having their biggest shopping day saddled with such a negative moniker, so in the early 1980s someone began floating the accounting angle to put a more positive spin on the big day.”
Another Urban Legend disposed of.
The second, via Mint, is this chart of whether Black Friday 2009 will be a Boom or Bust?
>
click for ginormous chart
November 27th, 2009 at 9:27 am
Now we know
November 27th, 2009 at 9:39 am
it’s now called Red Friday because everyone is in debt, or borrow to shop
November 27th, 2009 at 9:57 am
Banana Republic is not a luxury retailer. It is a midrange clothing retailer, like J.Crew. Amusing that they’d lump it in with Nordstrom, Saks, and Neiman Marcus.
November 27th, 2009 at 11:25 am
Since when is Banana Republic a ‘high end’ retailer?? Sure they’re more expensive than Old Navy but they’re no Dolce and Gabbana either.
November 27th, 2009 at 11:51 am
“Since when is Banana Republic a ‘high end’ retailer?? ”
In a world where middle-income Americans are flocking to Dollar stores , Banana Republic is ‘high end’.
November 27th, 2009 at 12:07 pm
some more history on ‘black friday’.. the day after thanksgiving was always the biggest $$ shopping day of the year because big item retailers would mark down refrigerators, washing machines etc., being this was the last day people would spend on themselves. after this day, all their money went for presents. once we stopped making stuff and became a consumer driven economy, marketing folks gave it a catchy name, retailers discounted gift items and people started lining up at 5a.m. to shop
November 27th, 2009 at 2:37 pm
It was Red Friday here in SW Ohio where family values are held in high regard, especially when it comes to securing a value for the family…
My wife is a department manager at a local big box national retailer and at 4:45am this morning she witnessed a fight over the last “on sale” GPS receiver. The episode climaxed when one shopper bit the hand of the other to force release of the bargain. (The wound had visible teeth marks and bleeding.) To avoid negative PR the combatants were dissuaded from calling the police by the offer of coupons for additional merchandise.
November 27th, 2009 at 3:07 pm
The wife just got back from a quick, brave run at Target (not holiday shopping but picking up other items for a little get together we’re having at our house tomorrow night), and said it “wasn’t as busy as it should have been” in there. A lot of cars in the parking lot but not crazy busy and no checkout lines. No wait. At all.
November 27th, 2009 at 6:13 pm
black friday dates from the 1869 gold panic where bankers were hung and the army was called in….
November 30th, 2009 at 11:50 pm
Seems like every time I hear one of these folk-loric sayings explained with a neat little (curve-fitted) explanation, it’s pure bullshit.
I was never sure why, but every time I heard that “it’s the day retailers go in the black” thing on the news the loudest little voice in my head would pipe up “yeah, bullshit.” Now I know. Maybe.
It often follows that the real explanation is a little less neat.
I plan no shopping on that day because I don’t like marketers telling me what to do and when to do it.