Black Friday: History, Who Created It, And Why Do We Have It?

In recent decades, a new holiday tradition emerged in the United States: Black Friday shopping. The day after Thanksgiving, retailers across the country open their doors early, offering incredible deals for shoppers who hurriedly smashed their doors to secure that year's hottest Christmas gift. The appetite for discounts has become so insatiable that Black Friday has begun to supersede Thanksgiving itself, with major retailers opening on Thursday evenings and staying open all night to make sales last as long as possible. but why? Where did this tradition come from? Let's take a look at the origins of Black Friday and how far back the history of this celebration of capitalism goes.

Black Friday is as old as Thanksgiving

For as long as America has been a thing, Americans have been celebrating a fall feast to give thanks for a bountiful harvest, but it wasn't until Abraham Lincoln became president that the event was officially held every November. was scheduled for last Thursday. Although the date has changed over the years, people tend to think of the day after Thanksgiving as the unofficial start of the Christmas season. However, it was not yet called Black Friday, as the term actually meant something else during that time.

Origin of the term "Black Friday"

On September 24, 1869, the stock market crashed after two stock speculators named James Fisk and Jay Gould artificially inflated the price of gold, creating a boom-bust scenario. Although it was quickly capped by the crash of 1929, it was disastrous at the time, with stock prices falling by more than 50%. Since the accident happened on a Friday, it was called "Black Friday".

Back to thanksgiving

The first Thanksgiving Day parade took place in 1905, when Canada-based department store Eaton hosted the event in downtown Toronto. A few years later, the parade expanded to include eight live reindeer pulling Santa in a wagon, and by 1916, it was complete with floats and costumed characters. The parade was such a hit that the owners of Macy's department store in New York City decided to host their own Thanksgiving Day parade in 1924. The parade encouraged visitors to come and shop downtown, so store owners banded together to make special offers. They open for business the day after the Thanksgiving holiday.

Roosevelt, Thanksgiving, and Black Friday

The way the month of November arrived in 1939, when the country was in the grip of the Great Depression, he put his last Thursday in the fifth week of the month. Retailers were already struggling to stay afloat in the midst of an economic downturn, and they feared a one-week cut during the holiday shopping season would effectively bankrupt some merchants, so they took their case to President Franklin D. Took it to Roosevelt. They pressured him to move Thanksgiving to the fourth Thursday of the month, encouraging shoppers to start spending their money earlier. The resulting confusion was a major mess, and in 1941, Congress stepped in to mandate that Thanksgiving would always be celebrated on the fourth Thursday in November.

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