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Black Friday is a shopping extravaganza that marks the beginning of the holiday
season, offering some of the best deals of the year. But beyond the doorbuster
deals and long lines, this shopping phenomenon has a history rich with intriguing
details and surprising facts. From its unexpected origins to the evolution of the
modern-day shopping frenzy, here are eight surprising facts about Black Friday
that add a new layer of meaning to this annual event.
1. The Origins of the Term "Black Friday" Weren't About Shopping
When we think of Black Friday today, we imagine sales, shopping carts, and
crowded stores. But the term "Black Friday" originally had nothing to do with
holiday shopping. In fact, it was used as early as the 1860s in a very different
context. Back in 1869, "Black Friday" referred to a financial crisis caused by a failed
attempt to corner the gold market by two speculators, Jay Gould and James Fisk.
When their scheme unraveled on September 24, 1869, it sent the U.S. gold market—
and the economy—into chaos, causing a market crash and affecting countless
investors and businesses.
It wasn’t until the 1960s in Philadelphia that the term "Black Friday" started to refer
to the day after Thanksgiving. Local police officers used it to describe the chaotic
crowds and traffic jams that occurred as shoppers and tourists swarmed the city
for both post-Thanksgiving sales and the annual Army-Navy football game.
Retailers initially disliked the term, but eventually, they embraced it and helped
transform it into the nationwide shopping event we know today.
Key Takeaway:
Origins Matter: Black Friday initially had negative connotations but was eventually
embraced and rebranded by retailers to create a positive association with
shopping and discounts.
2. The Transition from "Red" to "Black": Retailers' Profits
In accounting, being "in the red" means a business is operating at a loss, while
being "in the black" indicates profitability. This color-coded language played a
part in the transformation of Black Friday into a massive shopping day.
For many retailers, the day after Thanksgiving was the turning point when they
finally moved from red to black for the year. Holiday shoppers brought in so much
revenue that it could push retailers into profitability, making the term “Black
Friday” a symbolic nod to the start of a financially successful season.
Today, Black Friday is still one of the most profitable days of the year for many
stores. In 2022, U.S. consumers spent over $9 billion on Black Friday alone—a
testament to its continued impact on retail revenue.
Key Takeaway:
From Red to Black: The association between "black" and profitability helped
solidify Black Friday as a cornerstone of the retail industry's holiday season.
3. The Day Has Grown Beyond Just "Friday"
Once upon a time, Black Friday was strictly a one-day event. Retailers opened their
doors early Friday morning with massive sales, and eager shoppers lined up before
dawn to grab the best deals. However, over the past two decades, the concept of
Black Friday has expanded to encompass the entire weekend—and in many cases,
the entire month of November.
With online shopping, Black Friday deals often start weeks in advance and extend
through "Cyber Monday," the digital shopping day that follows Black Friday.
Recently, many stores even started opening on Thanksgiving Day, sparking
debates about consumerism encroaching on family time. The lines have blurred,
but the impact remains: Black Friday has transformed into a season, not just a
single day.
Key Takeaway:
From One Day to a Season: The extension of Black Friday into a multi-day (or even multi-week) event highlights the intense competition among retailers to capture holiday shoppers.
4. Black Friday Isn’t the Biggest Shopping Day Everywhere
In the United States, Black Friday is the busiest shopping day of the year. However,
it’s not the biggest shopping event in every country. For example:
China has Single's Day (November 11), which far surpasses Black Friday sales
globally. Started by e-commerce giant Alibaba, Single's Day generated an
astonishing $84.5 billion in 2021.
Mexico celebrates El Buen Fin ("The Good Weekend"), a similar shopping event that
takes place the weekend before Black Friday and marks the start of holiday
shopping for Mexican consumers.
Canada also sees significant Black Friday activity, but Boxing Day (the day after
Christmas) remains a highly popular shopping day.
As globalization and e-commerce continue to grow, Black Friday’s influence has
spread worldwide, but local shopping traditions and events still take the lead in
some regions.
Key Takeaway:
Globalization vs. Tradition: While Black Friday has international reach, it often
coexists with or plays second fiddle to unique shopping traditions in different
countries.
5. Black Friday Brings in Billions in Online Sales
With the rise of e-commerce, Black Friday has morphed from a strictly in-store
event to one of the biggest online shopping days of the year. In fact, online sales
during Black Friday now rival, and sometimes surpass, traditional in-store
shopping. In 2022 alone, online Black Friday sales reached over $9 billion in the
U.S., with more consumers opting to avoid the crowds and shop from the comfort
of their homes.
This shift has not only changed the shopping experience but has also led to
intense competition between online retailers. Websites and apps like Amazon,
Walmart, and Best Buy often release early sales, "lightning deals," and price-
matching policies to attract customers. For consumers, this means a wide range of
deals are just a click away, accessible from anywhere with internet access.
Key Takeaway:
Rise of E-Commerce: Online shopping has transformed Black Friday, making it a
digital event as much as a physical one and intensifying competition among
retailers.
6. The Psychology of Black Friday Shopping: Why Consumers Go Crazy for Deals
What is it about Black Friday that gets people out of bed at 4 a.m. to stand in line
for hours? Psychologists suggest that the allure of Black Friday deals taps into
several key human behaviors, including:
FOMO (Fear of Missing Out): The sense that deals are limited-time offers creates a
feeling of urgency that encourages immediate action.
Scarcity Principle: When people believe a product might run out, it increases their
desire to purchase it, even if they weren’t initially interested.
Social Proof: Seeing others rush to buy something, either in person or online, can
lead to a bandwagon effect where shoppers believe they need to join in to avoid
missing out.
Retailers have mastered these psychological triggers, using them to make sales
events feel like “must-attend” moments. Many retailers also implement
countdowns, flash sales, and limited-stock announcements to keep the excitement
(and impulse buying) high.
Key Takeaway:
Psychology in Action: Black Friday is a masterclass in leveraging consumer
psychology, creating urgency and excitement to drive sales.
7. Record-Breaking Sales and Bizarre Purchases
Black Friday often brings not only big revenue but also some eyebrow-raising
purchases. From luxury goods to novelty items, here are a few memorable
moments:
Luxury on Sale: While Black Friday is typically associated with deals on electronics
and home goods, luxury brands sometimes join the fun. In past years, high-end
items like designer handbags and watches have seen a surge in sales, with some
retailers offering rare discounts on luxury products.
Unexpected Items: People buy all sorts of strange things on Black Friday. For
example, in 2014, Walmart reported selling more than 2 million televisions and 1.5
million tablets, along with tons of unusual items like Thanksgiving-themed
sweaters and “unicorn meat” (a novelty canned product).
These purchases highlight the diversity of Black Friday, where consumers are often
willing to buy items outside their typical purchasing patterns due to the sheer
appeal of a good deal.
Key Takeaway:
From Electronics to Oddities: Black Friday shopping spans a wide array of products,
showing that people are willing to splurge on both practical and novelty items.
8. The Black Friday Safety Concerns: When Shopping Turns Chaotic
One of the darker sides of Black Friday is the history of accidents and safety
concerns. In the rush to secure deals, crowded stores have occasionally led to
injuries and even fatalities, creating a grim side to the holiday. Over the years,
there have been reports of stampedes, fights, and trampling incidents that serve as
reminders of the potential dangers when crowds grow too large.
To address this, some stores have implemented crowd control measures like
staggered openings, ticketing systems for high-demand items, and even the
presence of additional security. The rise of online shopping has also helped ease
in-store crowding, allowing shoppers to access deals from home.
Despite these efforts, Black Friday's reputation for chaos endures, serving as both a
cautionary tale and a testament to the intensity of consumer demand.
Key Takeaway:
Safety First: The risks associated with Black Friday crowds have led to changes in
how stores handle the influx of shoppers, with safety now a significant
consideration for both retailers and customers.
Conclusion
Black Friday has evolved far beyond a single day of shopping; it has become a
cultural event with complex traditions, psychological triggers, and a significant
economic impact. From its early roots as a chaotic day marked by traffic jams in
Philadelphia to its current status as an online shopping phenomenon, Black Friday
reflects changing consumer behavior and the ever-increasing importance of e-
commerce.
Understanding the history, psychology, and global variations of Black Friday gives
us a fuller picture of why it remains so popular, despite its flaws and occasional
chaos. Whether you’re a dedicated Black Friday shopper or an intrigued observer,
these eight facts shed light on the fascinating evolution of one of the biggest
shopping days of the year. And with each passing year, Black Friday continues to
surprise, grow, and adapt—proving it’s more than just a day, but rather a season in
itself.
