Origin of Black Friday: History of the great global eCommerce celebration

Every November, Black Friday stirs excitement among millions of shoppers. But have you ever stopped to think about where this tradition of discounts started? In this article, we uncover its history, debunk myths, and share intriguing facts you likely did not know. Let’s dive into a clear explanation of the origins of Black Friday and how it evolved into a global event.

The myths behind Black Friday’s origins

The origins of Black Friday can be a bit confusing. A common myth suggests it started back when stores recorded their finances by hand, marking losses in red and profits in black. Many businesses reportedly operated “in the red” most of the year, only to “go into the black” the day after Thanksgiving, leading some to mistakenly attribute the name to this practice.

Another recent, albeit false, rumor claims Black Friday originated from the day traffickers allegedly sold slaves at a discount after Thanksgiving to plantation owners in the 19th century. In reality, the first use of the term Black Friday was in 1869, referring to a financial crisis caused by a drop in gold prices, unrelated to the discount shopping frenzy we know today.

The True Story of Black Friday

The true story of Black Friday began with New York’s Macy’s department stores, which were pioneers in offering post-Thanksgiving discounts. Fred Lazarus, the owner, was searching for a way to boost sales after the 1929 crash and saw this as a prime opportunity to jumpstart holiday shopping. Consequently, he persuaded President Roosevelt to move Thanksgiving up by a week, setting it a month before Christmas.

“The true story of Black Friday starts in the United States as an economic strategy following the Great Depression.“

Gradually, other stores in the city followed Macy’s lead, and soon, retailers across the U.S. joined in. The discounts became so popular that they led to actual chaos, with traffic jams, long lines, and overworked store employees. By 1961, Philadelphia police dubbed this chaotic day Black Friday.

Although many retailers disliked the term due to its negative implications, in 1975, The New York Times used it again, helping to cement its place in popular culture.

When is Black Friday?

For these reasons, Black Friday is celebrated annually on the Friday following Thanksgiving Thursday, which translates to the day after the fourth Thursday of November. This date is also crucial for eCommerce, as online sales in the U.S. and globally experience significant spikes.

Image: Flux Schnell