Black Friday

Economic Origins

The term "Black Friday" has a complex history rooted in economic events. Gary Arndt explains that while today it signifies the start of the Christmas shopping season, its origins are tied to financial crises. The first "Black Friday" occurred in 1869 when financiers attempted to corner the gold market, leading to a market crash when President Grant intervened 1. This historical context highlights the dual nature of the term "black" in business, representing both profit and disaster.

The word black in a business sense has always had a mixed meaning. In an accounting sense, being in the black was good. However, market crashes were often also referred to as black.

--- Gary Arndt

Understanding this background provides insight into how the term evolved to describe a day of retail profit 1.

   

Thanksgiving Link

The connection between Black Friday and Thanksgiving has evolved over the years. Initially, the day after Thanksgiving was associated with the Army-Navy football game in Philadelphia, leading to crowded streets and stores 1. Gary Arndt notes that the term "Black Friday" was coined by police to describe the chaos, not the retail profits. Retailers later embraced the term, transforming it into a positive symbol of consumerism by offering significant sales and deals 2.

The current meaning of Black Friday started to take off nationally in the late 1980s. Retailers embraced the term and gave it a positive association.

--- Gary Arndt

This shift in perception has led to Black Friday becoming a global phenomenon, despite its American roots 2.