Black Friday Sale 2023: Why has it been named as Black Friday?

The term "Black Friday" has become synonymous with massive discounts, frenzied shopping sprees, and the official kickoff of the holiday shopping season. But have you ever wondered where this peculiar name originated? Contrary to popular belief, the origins of Black Friday are not directly related to retailers turning a profit, as many people assume. Here are various reasons behind the name Black Friday.

The Origins of Black Friday: A Tale of Two Theories

The exact origins of Black Friday remain somewhat shrouded in mystery, with two primary theories vying for credibility:

1. The Accounting Ledger Theory:

One theory suggests that the term "Black Friday" emerged from the accounting practices of retail businesses. In the pre-computer era, retailers would record their profits and losses in ledger books, with red ink indicating losses and black ink representing profits. It was believed that the day after Thanksgiving, when retailers typically saw a surge in sales, was the day they would finally turn a profit, or "go into the black."

Investopedia mentioned: "Some say the day is called Black Friday as an homage to the term "black" referring to profitability, which stems from the old bookkeeping practice of recording profits in black ink and losses in red ink. The idea is that retail businesses can sell enough on this single Friday (and the ensuing weekend) to put themselves "in the black" for the year."

2. The Police Crowd Control Theory:

A more widely accepted theory attributed the name to Philadelphia police officers in the 1950s. As the city prepared for the annual Army-Navy football game, held on the Saturday following Thanksgiving, large crowds of shoppers would descend upon Philadelphia stores, creating massive traffic jams and chaos. The overwhelmed police officers reportedly referred to the day after Thanksgiving as "Black Friday" due to the sheer volume of people and the ensuing mayhem.

The History Channel mentioned: "Back in the 1950s, police in the city of Philadelphia used the term to describe the chaos that ensued on the day after Thanksgiving, when hordes of suburban shoppers and tourists flooded into the city in advance of the big Army-Navy football game held on that Saturday every year. Not only were Philly cops not able to take the day off, but they had to work extra-long shifts dealing with the additional crowds and traffic. Shoplifters also took advantage of the bedlam in stores and made off with merchandise, adding to the law enforcement headache."

The Evolution of Black Friday

Regardless of its exact origins, the term "Black Friday" gained widespread recognition in the 1960s and 1970s, particularly in Philadelphia and New York City. Retailers embraced the name, recognising its potential to attract shoppers eager to take advantage of deep discounts.

Over time, Black Friday evolved from a localised phenomenon to a nationwide shopping extravaganza. The introduction of big-box retailers and the rise of online shopping further amplified its impact, transforming it into one of the biggest shopping days of the year.

Black Friday in the Modern Era

Today, Black Friday is a global phenomenon, with countries around the world adopting the tradition of offering significant discounts during the post-Thanksgiving period. The event has also expanded beyond physical stores, with online retailers playing an increasingly prominent role.

Despite the growth of online shopping, physical stores remain a key part of the Black Friday experience. The thrill of the hunt, the adrenaline rush of navigating crowded aisles, and the satisfaction of securing a coveted deal at a rock-bottom price continue to draw shoppers to brick-and-mortar stores.

Black Friday has undoubtedly become a cultural phenomenon, shaping consumer behaviour and influencing the retail industry worldwide. While its origins may not be entirely clear, the event's impact is undeniable, marking the official start of the holiday shopping season and generating massive sales for retailers.

As Black Friday continues to evolve, it will be interesting to see how it adapts to changing consumer preferences and technological advancements. One thing is certain: Black Friday is here to stay, a testament to the allure of great deals and the power of the simple act of shopping.