November 30, 2024: What is Black Friday, and When is it Celebrated?
Black Friday, synonymous with incredible shopping deals, has evolved into one of the biggest retail events globally. Observed the day after Thanksgiving, Black Friday marks the unofficial start of the holiday shopping season in the United States. In 2023, it fell on November 24, and in 2024, it was on November 29. However, the term Black Friday has an entirely separate origin, referring to September 24, 1869, a date infamous for financial turmoil caused by gold market speculators.
Where Did the Term 'Black Friday' Come From?
Contrary to popular belief, Black Friday didn’t always represent profit-making or economic success. Historically, the term black has often been tied to misfortune.
- The Financial Panic of 1869: The original Black Friday dates back to September 24, 1869, when financiers Jay Gould and James Fisk tried to manipulate the gold market. Their actions triggered financial panic and a collapse in the market.
- Black Tuesday (1929): Decades later, October 29, 1929, marked the infamous stock market crash that led to the Great Depression.
The post-Thanksgiving Black Friday, however, originated in the mid-20th century. In the 1950s, factory managers coined the term to describe the Friday after Thanksgiving, when workers notoriously called in sick to extend their holiday weekends.
By the 1960s, Philadelphia police began using the term to describe chaotic traffic and crowded streets as shoppers flooded the city for holiday deals. This day also coincided with the Army-Navy football game, adding to the citywide hustle.
How Did Black Friday Gain Its Modern Meaning?
In the 1980s, the narrative surrounding Black Friday shifted. Businesses started using the term to signify going "in the black" (indicating profitability) instead of being "in the red" (representing losses). Retailers seized the opportunity to market the day as a shopping extravaganza, cementing its place as a key day in the retail calendar.
Black Friday and the Holiday Shopping Season
Black Friday is now part of a larger shopping frenzy that includes:
- Small Business Saturday: Encouraging support for small businesses.
- Cyber Monday: Focusing on online shopping deals.
- Giving Tuesday: Highlighting the spirit of giving through charity and volunteering.
Together, these events mark the beginning of the holiday season, providing opportunities for consumers to shop, save, and give back.
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