Black Friday is officially on today, and that means an insane amount of shopping, excess and unparalleled hedonism. But where does Black Friday originate from? Let's find out...
According to this article, the term Black Friday was first used in the United States to describe a financial crisis in 1869. On September 24, 1869, a Friday, James Fish and Jay Gould tried to take over the gold market in the New York Gold Exchange.
For downtown merchants throughout the nation, the biggest shopping days normally are the two following Thanksgiving Day. Resulting traffic jams are an irksome problem to the police and, in Philadelphia, it became customary for officers to refer to the post-Thanksgiving days as Black Friday and Black Saturday. Hardly a stimulus for good business, the problem was discussed by the merchants with their Deputy City Representative, Abe S. Rosen, one of the country's most experienced municipal PR executives. He recommended adoption of a positive approach which would convert Black Friday and Black Saturday to Big Friday and Big Saturday.
And guess what? It worked. The rest is history and Black Friday has now spread worldwide and entrenched itself in society. People love a Black Friday sale - queuing for hours to be first in line. With the rise of online shopping, it’s become even easier to splurge!
But, Black Friday had one small issue. You see, it being an American holiday, many potential customers, were too busy with Thanksgiving preparation to spend their time shopping in stores and online, and so Cyber Monday was created…
As with anything, all Black Friday needed to rejuvenate itself was a slight tweak and a re-brand. The Monday following Black Friday has seen online sales match and even beat the sales on Friday. As everyone is over and done with their Thanksgiving celebrations, they’re ready to get their shopping on!
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