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Black Friday marks the beginning of the holiday shopping season, and the frenzy that ensues from the massive discounts on offer has given rise to a number of myths and controversies surrounding its popularity.
The day is known for offering major sales on technology products, but it also has a complicated history and a dark side when it comes to its social and environmental impact.
In this article, we look at the history of black Friday and the myths and facts surrounding this chaotic shopping day.
Key Takeaways
- There are number of theories around the origin of Black Friday, but it is now widely accepted to have started in Philadelphia during the 1960s.
- Black Friday trends reflect the evolution in shopping habits from in-store to e-commerce and the globalization of online retail.
- Although it is linked to a US holiday, retailers worldwide now offer Black Friday sales aiming to capitalize on the hype.
- There are major bargains to be had, but prices for some items are not always the lowest on Black Friday—it pays to shop around and compare prices.
- Major retailers, such as Amazon, Walmart, and Target, often slash prices and start offering Black Friday deals earlier than its official date.
How Did Black Friday Get Its Name?
The commonly accepted story is that the name originated during the 1960s in Philadelphia, where the police department used the term in a negative way to describe the annual chaos caused by crowds of shoppers and traffic the day after the US Thanksgiving holiday in November.
Another often-repeated theory suggests that Black Friday is related to retail profits, with many businesses moving “into the black” by turning a profit for the year.
So, what is the real Black Friday history, and what are myths?
5 Popular Myths Surrounding Black Friday
There is a slew of myths surrounding Black Friday, from the idea that retailers always make the biggest discounts and their largest profits to a more sinister, debunked claim that slave traders during the 1800s used the term to describe the day after Thanksgiving when they would sell slaves to plantation owners at discounted prices to boost the economy.
Here are some of the most common misconceptions.
Myth 1: Black Friday Was Named After a Stock Market Crash
Some claim the history of Black Friday is connected to a stock market crash, as the color black is associated with dark days on the financial markets.
For instance:
- Black Tuesday marked the 1929 Wall Street Crash that precipitated the Great Depression.
- Black Monday refers to a worldwide stock market crash in 1987.
- Black Wednesday saw the collapse in the value of the British pound sterling in 1992.
Instead, the first recorded use of the term Black Friday described a crash in the US gold market in 1869, but this is not related to the shopping day.
Myth 2: Retailers Always See Their Largest Profits
While Black Friday is known for boosting retail sales, it doesn’t guarantee record profits for all businesses. The heavy discounts offered can cut into margins, and the rise of online shopping and other sales events like Cyber Monday has diluted Black Friday’s impact.
Retailers aim for volume sales rather than high margins.
Myth 3: Black Friday Is the Biggest Shopping Day
This one is not so much a myth as a variable metric. While in some years, Black Friday can indeed be the biggest shopping day, in other years, it loses that title to the Monday after Black Friday—known as Cyber Monday—or Super Saturday, which is the last Saturday before Christmas and often brings in the most sales for businesses.
In 2023, Cyber Monday sales brought in a record $12.4 billion in online sales, outpacing Black Friday’s $9.8 billion, according to Adobe Analytics data.
Myth 4: Black Friday Only Happens in the US
As Black Friday’s origin is in the US, traditionally connected to the national Thanksgiving holiday in November, it is assumed that it only occurs in the US. However, it has expanded to other countries over the years as retailers aim to profit from its success.
Myth 5: Prices Are Always the Lowest on Black Friday
While Black Friday is known for its major discounts, not everything that retailers stock goes on sale that day. And some of the items that are on sale may go on sale at lower prices at other times during the year.
One of the reasons that Black Friday has become controversial is that some retailers mislead consumers by raising the prices of items in the run-up to Black Friday so that they can claim they are selling them at a lower price on the day—even though they were actually cheaper earlier in the year.
If you plan on purchasing an item on Black Friday, it’s worth doing some price comparison research in advance to be sure you are getting the best deal.
4 Key Facts About Black Friday
Having looked at some of the common myths, what are the facts about Black Friday?
Fact 1: The Term “Black Friday” Originated in Philadelphia
Why is it called Black Friday? Although the name describes a major shopping day, it did not originate with retailers. The Philadelphia Police Department (PD) used the term because large crowds of shoppers and tourists in town to watch the Army v Navy football game on the Saturday after Thanksgiving would fill the city streets—resulting in heavy traffic jams, and often an increase in shoplifting.
All of the PD’s officers were required to work that day, with many on duty for longer shifts to help control the chaos. The day was known as Black Friday, as the officers dreaded the stress.
As the use of the name spread, retailers tried to rebrand it as the less negative “Big Friday,” but the change failed to take hold. When businesses began to use Black Friday in their marketing, it gained momentum around the US to refer to post-Thanksgiving sales.
Fact 2: Black Friday Kicks Off the Holiday Shopping Season
It may not always be the biggest shopping day of the year, but Black Friday marks the start of the holiday shopping season.
As many Americans take the day after the holiday off work to have a long weekend, retailers use it to launch sales and other promotions to attract shoppers on their day off and encourage them to start their Christmas gift buying early.
Fact 3: Black Friday Has Expanded to Other Countries
The US is no longer the only country that has Black Friday sales. Retailers in countries worldwide now use Black Friday branding to promote deals and discounts in imitation of the US tradition.
Even though Black Friday makes little sense outside the US, Canada started promoting such sales in 2008, the UK joined in the fun in 2010, and Australia followed in 2013.
Now, more than 100 countries have a form of Black Friday sale.
Fact 4: Retailers Prepare for Months in Advance
Given the billions of dollars involved, retailers invest considerable time and effort into planning their Black Friday sales.
Many start their preparations months in advance by reviewing the previous year’s sales, forecasting consumer demand to manage inventory and logistics, creating marketing strategies, hiring seasonal workers, and increasing their online presence.
Some businesses start preparing in the summer or early fall.
The Evolution of Black Friday Over the Years
Over the years, Black Friday has shifted from a phenomenon in a single US city in the 1960s to a nationwide sales day in the 1980s to an international retail event.
With the rise of e-commerce in the 2000s, Black Friday expanded beyond brick-and-mortar stores, with online retailers also offering major bargains. The introduction of Cyber Monday in 2005 further fueled this shift
From In-Store to Online Shopping
Holiday sales in the past were characterized by countdowns to physical store openings on the day. But gone are the days of queues of people snaking around city blocks early in the morning waiting for stores to open; these days eager Black Friday shoppers are more likely to be found at home on their devices browsing the best deals online.
The Role of Cyber Monday
The National Retail Federation (NRF) coined the term Cyber Monday in 2005. With Black Friday at that time primarily an in-store sales event, online retailers were increasingly eager to get a piece of the piece and began offering deals through their websites—which Americans could access from their desks on returning to work on the Monday after the Thanksgiving holiday.
This turned Black Friday into an extended shopping period, often known as Cyber Week. This has been extended further since the start of the COVID-19 pandemic in 2020 when brick-and-mortar stores were forced to close during lockdowns.
Online shopping surged, and retailers ran promotions throughout November—a trend that has continued in the following years.
The Globalization of Black Friday
Globalization has helped to expand the Black Friday phenomenon beyond the US. The rise of international e-commerce and social media has enabled retailers to promote and ship products to consumers around the world.
And consumers want to be able to buy the products and receive the deals they see others getting online—demonstrating the global influence of American consumer culture.
The Rise of Black Friday as a Cultural Phenomenon
The hype around Black Friday has grown beyond its commercial roots and made it a cultural event—indicating the power of marketing. The day is marked by memes, viral videos of crowds, and stories of extreme consumer behavior.
The psychology around Black Friday shopping reflects the sense of urgency consumers feel to snag limited time deals, which drives them to make impulsive purchases for fear of missing out (FOMO) and the thrill of finding the best bargains.
Additionally, the social aspect of Black Friday—through shoppers sharing the experience in-store or discussing deals in online communities—fuels this excitement and competitiveness.
Black Friday Fun & Little-Known Facts
Here are some fun facts about Black Friday:
The Bottom Line
Black Friday, once a uniquely American shopping event, has expanded into a global phenomenon surrounded by myths and misconceptions. Even the origins of the term have become confused by various stories.
While consumers can find significant discounts for some products, the hype around the start of the holiday shopping season often obscures the fact that better deals are often available in other sales during the year.
The growth of Black Friday around the world reflects the rising influence of American shopping culture as it spreads on social media, as well as changes in advertising and consumption habits driven by online shopping.
If you are looking for Black Friday bargains, as in every year you should research the products you want to purchase in advance to help you avoid misleading advertising and find the best deals.
FAQs
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References
- Adobe – Media Alert: Adobe: Cyber Monday Surges to $12.4 Billion in Online Spending, Breaking E-Commerce Record
(News.adobe) - Black Friday Around the World: Countries With Major Shopping Holidays (Junglescout)
- Black Friday has changed dramatically over the years, but still expect crowds and high spending – YouTube (Youtube)
- NASA Universe on X (X)
- Black Friday Death Count (Blackfridaydeathcount)
