Tag Archives: retail

How Did Black Friday Come to Be?

Black Friday
Petr Kratochvil
publicdomainpibtures.net

The day after Thanksgiving in the United States has been called Black Friday for quite a long time, yet its origins are somewhat confusing owing to some clever remaking of the day by the retailers.

Its historical origins had nothing to do with Thanksgiving but a financial crisis in 1869. On 23 September 1869 a crash occurred in the U.S gold markets that was likely triggered by the actions of Jim Fisk and Jay Gould who tried to buy up as much gold as they could. In doing so, it drove the price of gold sky-high allowing them to sell at a huge profit. When their actions became known, it sent the gold market crashing down but also spread to the stock market resulting in bankers and farmers losing substantial sums of money. Thus, that date on a Friday became known as Black Friday.

The link to retail appears to come from a story about making huge profits on the day after Thanksgiving. In origin story, retailers lived on or near the infamous red line. That red line means they are operating at a near loss or in fact “in the red” meaning they were not making profits. The day after Thanksgiving brought in so many shoppers that they went into the black (meaning making profits), so it became known a Black Friday. While this version is somewhat accurate in that many retailers looked forward to the start of the Christmas season to generate high revenues, it is not the origin of Black Friday either.  Shopping on the day after Thanksgiving, often considered the start of the Christmas season in the United States, does give an indicator as to what consumers are willing to spend If the economy is good. On the other hand, if the economy is not doing well people may not spend much and only buy things they need and items on sale.

There are some who believe it has ties to racism on Southern plantations in the 1800’s. According to this story, it is claimed that owners would buy slaves at a discount on the day after Thanksgiving. This has led to some in the African American community to call for the boycott of stores on Back Friday. Except there appears to be no basis for this story. So far nothing has been found to show that slave auctions of this kind took place the day after Thanksgiving in that era. Like misinterpreting the word picnic as racist (picnic comes from a French word about eating outside and has nothing to do with race), this appears to have been created to fit someone’s perspective on the origins of the day.

The modern use of the term in fact comes from the 1950’s and from the city of Philadelphia. Police called it Black Friday to describe all the chaos that ensued from shoppers racing to shop before the Army-Navy game that was held on Saturday. The bedlam was so bad that no day off was granted to police on this day to deal with the hordes of cars and people in the city. Another factor was that criminals would take advantage of the large crowds to steal wallets, purses, and of course shoplift as well. Retailers were not happy with this connotation and tried unsuccessfully to change it to “Big Friday.” This was unsuccessful, so they tried to remake the day by saying this was the day retailers needed to make a profit. This appears to have worked and the darker roots from Philadelphia have been largely forgotten.

Black Friday Shopping
Photo: Public Domain

By remaking the day using sales to drive people into stores, it became an event on its own that spawned other major retails days. Black Friday was marketed as a day to get great bargains and all the major retailers jumped aboard. People began lining up early and some retailers decided to open on Thanksgiving (usually in the evening) to take advantage of the desire to buy discounted items. Ironically it then created things that harkened back to Philadelphia. In recent years when stores opened to the throngs waiting outside, chaos ensued when people raced into the store to grab what they wanted. People got trampled, fights broke out between adults bickering over who was entitled to the product. Many stores started to regulate the number of people in their store at any given time. This has been somewhat successful but when a surge of people all stampede at the door, the best the security guards can do is jump aside or be trampled on.

While Philadelphia is rarely mentioned, the chaos outside usually hearkens back to it. Mall parking lots are jammed, streets are full of cars trying to get in or out, and even freeways near those shopping malls are impacted as well. Up in the air, helicopters fly overhead filming the chaos below. And in major cities or areas where crowds are enormous, the police are often around to manage as best they can the traffic and crime that is going on. The Internet has made a dent, but you must wait for the product to arrive, so it is off to the store! In recent years retailers had started opening on Thanksgiving so people could get in early. Some like Target have rethought that and now are closed for Thanksgiving Day. And that is a good sign. Thanksgiving is a special holiday that should be treated on its own. And Black Friday is all about the shopping.

Sources

What’s the Real History of Black Friday? (History.com)
Black Friday History and Statistics  (BlackFriday.com)
Black Friday (Wikipedia)

 

Here They Come! Black Friday (US)

Black Friday Shopping Photo: Public Domain
Black Friday Shopping
Photo: Public Domain

Today is called Black Friday or as it used to be known, the day after Thanksgiving in the United States. It is not an official public holiday though many government employees and a select number of private companies do take the day off. Schools are generally out as well so a lot of kids from grade school to college have the day off. The day after Thanksgiving has been a major retail event for decades. And the term “Black Friday” likely came from such overwhelming numbers of people and vehicles filling the streets, sidewalks, and malls on this particular day.

Until fairly recently most retail stores were closed on Thanksgiving Day. Only a limited number of stores, often grocery and 24 hour restaurant or retail operations, would be open. Usually stores would open around 6:00am the next day but a few years ago some big retailers like Target started opening up at first late at night but now open at 6 pm. It has not been without controversy as workers get a limited Thanksgiving with their families. Most retailers if they are wise will pay extra for the inconvenience but they are not required to. Federal law does not mandate extra pay if you work on a holiday or on weekends. Overtime pay for most non-exempt (meaning hourly workers)is only legally required once you exceed 40 hours,

The sheer masses of people trying to get into stores or malls creates hazardous situations. People being stomped on or worse have occurred. Criminals like to take advantage of the situation to rob shoppers, stores, or break into cars. It bears remembering that if you leave anything visible in the car such as backpacks, bags, GPS devices and mobile phones that it may trigger a smash and grab. This has become quite an problem in San Francisco when tourists leave such gadgets plainly visible in their car.

Black Friday is often used to measure consumer spending for the upcoming Christmas season. Merchants use the data from the sales made to forecast what the projected seasonal earnings will be. If modest or low, it tells them the rest of the season will be lackluster unless they step up their marketing. If sales are booming, then retailers are looking forward to a prosperous Christmas season.

Of course if you want to avoid the whole Black Friday mess and have access to the internet, you can shop from the comfort of your home. Why stand outside a store for hours when you can order the very product you want, often with the same discount, when you can do it at home? That is something likely to get stronger if the present trends hold up which is why there is now a Cyber Monday.

Here They Come! Black Friday (US)

Black Friday Shopping Photo: Public Domain
Black Friday Shopping
Photo: Public Domain

Today is called Black Friday or as it used to be known, the day after Thanksgiving in the United States. It is not an official public holiday though many government employees and a select number of private companies do take the day off. Schools are generally out as well so a lot of kids from grade school to college have the day off. The day after Thanksgiving has been a major retail event for decades. And the term “Black Friday” likely came from such overwhelming numbers of people and vehicles filling the streets, sidewalks, and malls on this particular day.

Until fairly recently most retail stores were closed on Thanksgiving Day. Only a limited number of stores, often grocery and 24 hour restaurant or retail operations, would be open. Usually stores would open around 6:00am the next day but a few years ago some big retailers like Target started opening up at first late at night but now open at 6 pm. It has not been without controversy as workers get a limited Thanksgiving with their families. Most retailers if they are wise will pay extra for the inconvenience but they are not required to. Federal law does not mandate extra pay if you work on a holiday or on weekends. Overtime pay for most non-exempt (meaning hourly workers)is only legally required once you exceed 40 hours,

The sheer masses of people trying to get into stores or malls creates hazardous situations. People being stomped on or worse have occurred. Criminals like to take advantage of the situation to rob shoppers, stores, or break into cars. It bears remembering that if you leave anything visible in the car such as backpacks, bags, GPS devices and mobile phones that it may trigger a smash and grab. This has become quite an problem in San Francisco when tourists leave such gadgets plainly visible in their car.

Black Friday is often used to measure consumer spending for the upcoming Christmas season. Merchants use the data from the sales made to forecast what the projected seasonal earnings will be. If modest or low, it tells them the rest of the season will be lackluster unless they step up their marketing. If sales are booming, then retailers are looking forward to a prosperous Christmas season.

Of course if you want to avoid the whole Black Friday mess and have access to the internet, you can shop from the comfort of your home. Why stand outside a store for hours when you can order the very product you want, often with the same discount, when you can do it at home? That is something likely to get stronger if the present trends hold up which is why there is now a Cyber Monday.

https://youtu.be/_42wssRyCU4


Today is Black Friday (US)

Black Friday Shopping Photo: Public Domain
Black Friday Shopping
Photo: Public Domain

Today is called Black Friday or as it used to be known, the day after Thanksgiving in the United States. It is not an official public holiday though many government employees and a select number of private companies do take the day off. Schools are generally out as well so a lot of kids from grade school to college have the day off.  The day after Thanksgiving has been a major retail event for decades. And the term “Black Friday” likely came from such overwhelming numbers of people and vehicles filling the streets, sidewalks, and malls on this particular day.

Until fairly recently most retail stores were closed on Thanksgiving Day. Only a limited number of stores, often grocery and 24 hour restaurant or retail operations, would be open. Usually stores would open around 6:00am the next day but a few years ago some big retailers like Target started opening up at first late at night but now open at  6 pm. It has not been without controversy as workers get a limited Thanksgiving with their families. Most retailers if they are wise will pay extra for the inconvenience but they are not required to.  Federal law does not mandate extra pay if you work on a  holiday or on weekends. Overtime pay for most non-exempt (meaning hourly workers)is only legally required once you exceed 40 hours,

The sheer masses of people trying to get into stores or malls creates hazardous situations. People being stomped on or worse hacve occurred. Criminals like to take advantage of the situation to rob shoppers, stores, or break into cars. It bears remembering that if you leave anything visible in the car such as backpacks, bags, GPS devices and mobile phones that it may trigger a smash and grab.

Black Friday is often used to measure consumer spending for the upcoming Christmas season. Merchants use the data from the sales made to forecast what the projected seasonal  earnings will be. If modest or low, it tells them the rest of the season will be lackluster unless they step up their marketing.  If sales are booming, then retailers are looking forward to a prosperous Christmas season.

Of course if you want to avoid the whole Black Friday mess and have access to the internet, you can shop from the comfort of your home. Why stand outside a store for hours when you can order the very product you want, often with the same discount, when you can do it at home? That is something likely to get stronger if the present trends hold up which is why there is now a Cyber Monday.

https://youtu.be/PkylgZFT_CM


Today is Black Friday

Black Friday Shopping Photo: Public Domain
Black Friday Shopping
Photo: Public Domain

Today is called Black Friday or as it used to be known, the day after Thanksgiving in the United States. It is not an official public holiday though many government employees and a select number of private companies do take the day off. Schools are generally out as well so a lot of kids from grade school to college have the day off.  The day after Thanksgiving has been a major retail event for decades. And the term “Black Friday” likely came from such overwhelming numbers of people and vehicles filling the streets, sidewalks, and malls on this particular day.

Until fairly recently most retail stores were closed on Thanksgiving Day. Only a limited number of stores, often grocery and 24 hour restaurant or retail operations, would be open. Usually stores would open around 6:00am the next day but a few years ago some big retailers like Target started opening up at midnight and then kept pushing it back so now many open on the afternoon or early evening. It has not been without controversy as workers get a limited Thanksgiving with their families but are paid overtime for working the holiday as required by law. And sadly many incidents of people being stomped on or worse as the masses of people flood into stores. There have been incidences of fights over bargain items and one notable case pepper spray was deployed by a shopper to prevent others from getting what she wanted.

Black Friday is often used to measure consumer spending for the upcoming Christmas season. Merchants use the data from the sales made to forecast what the projected seasonal  earnings will be. In 2014 despite huge numbers of people in the stores, sales were not significantly higher than the previous year. This meant that while sales were going to be okay they would not be breaking any records. Breaking it down further you can see what people are buying and adjust sales and inventory accordingly.

Of course if you want to avoid the whole Black Friday mess and have access to the internet, you can shop from the comfort of your home. Why stand outside a store for hours when you can order the very product you want, often with the same discount, when you can do it at home? That is something likely to get stronger if the present trends hold up which is why there is now a Cyber Monday.

https://youtu.be/PkylgZFT_CM