Black Friday is a name given to mark the start of the Christmas shopping in the U.S. This has a rich history, and you would be surprised to know about it. Black Friday sale was not for offering deals and offers to people, but it was initiated due to the financial crisis faced by America. Several years before the U.S faced severe economic crisis and this led to the concept of Black Friday. The real history of Black Friday is revealed in the article more. For more info on the history of Black Friday continue reading the article below.
In the year 1869 U.S faced a gold market crash. This was due to the two ruthless financiers of Wall Street who bought as much of the country’s gold, and this led to an increase in the price of gold. Later they sold the gold for higher profits. Their conspiracy on gold market was revealed on September 24, 1869, and this resulted in bankruptcy for most of the people from Wall Street.
Retailers who are operating at a loss and they go in red the whole year earned a profit the day after Thanksgiving and went in black as they offered attractive discounts and best deals. This is one such story said for the history of Black Friday.
There is also another myth regarding the history of Black Friday. In the year 1880 southern plantation owners bought slaves for such a low price on the day following the Thanksgiving. The actual story of Black Friday is dark as in the year 1950; the city of Philadelphia faced serious chaos as several people, tourists, flooded the town on the day after Thanksgiving. This forced cops to work on long shifts so that they can manage the vast crowd. The retailers make use of this condition to improve their sales and this, in turn, increased the state of chaos. Thus the day after Thanksgiving was called as Black Friday.
In the year 1961, shopkeepers tried to change the name as Big Friday. But the new name did not become popular, and it was not used. In the year 1980, retailers worked on specific ways to remove the negativity image of Black Friday. Thus they turned it into the red to the black concept, and they marked the Thanksgiving Day into profit by offering attractive deals.
As the years passed by, the darker side of the Black Friday started to fade off. Now the one-day mega sales during Thanks Giving have become a four-day event. The days before and after the Thanksgiving day have become entire shopping days. In recent years, the profit during the Thanksgiving weekend has drastically increased. Shopkeepers and retailers make use of this opportunity to earn a profit.
Thus there are several stories related to the history of Black Friday, and it is evident that there is a darker side to it. All stories mentioned above are not entirely accurate. There are certain myths that people talk about regarding Black Friday sales.